U.S. crude oil and distillate inventories fell last week while gasoline inventories rose unexpectedly, the Energy Information Administration said on Wednesday.
Crude inventories (USOILC=ECI) fell by…
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Oil prices dropped sharply on Wednesday, sliding by 2% as potential U.S. interest rate hikes that could slow growth and curb oil consumption outweighed strong Chinese economic…
OPEC and the International Energy Agency (IEA) do not see eye to eye when it comes to the latest cuts in oil output by OPEC+ producers.
India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel,…
It will be very difficult for Europe to refill its gas storage to last year’s levels after the continent ended the winter heating season with relatively low…
South Pars Gas Complex (SPGC) produced 17.2 billion cubic meters (bcm) of natural gas over the winter, an increase of 6% compared to the quarter to late…
The length of oil and gas wells pipelines as well as the pipeline construction operation increased in the past Iranian calendar year 1401 (ended on March 20),…
The biogas power plant of units 5 and 6 of South Tehran Wastewater Treatment Plant was put into operation in the presence of Energy Minister Ali-Akbar Mehrabian…
Oil prices firmed slightly on Tuesday, after falling 2% in the previous session, as stronger economic data from the world’s largest crude importer China underpinned the demand…
Oil industry heavyweights claim that the sector continues to see structural underinvestment.
Predicting how an industry will look 20 or more years from now…
More than a dozen proposed LNG export projects in the United States could stall due to cost inflation and increased competition to secure financing.
Investors finished covering their short positions in petroleum last week, after Saudi Arabia and its allies in OPEC⁺ surprised traders by announcing an unexpected cut in their…
Russia’s oil production is forecast to remain stable until 2025, its Deputy Energy Minister Pavel Sorokin said, while Moscow plans reserves in order to make its supplies…
Oil prices turned lower on Monday as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes,…
The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices…
Tehran will host the 14th edition of Iran Petrochemical Forum (IPF) at the IRIB International Conference Hall on May 1-2.
As reported, this edition…
China’s crude oil imports in March surged 22.5% from a year earlier to the highest since June 2020, data showed on Thursday, as refiners stepped up runs…
The group of Brazil, Russia, India, China and South Africa (BRICS) will for the first time attend the Iran Petrochemical Forum (IPF), announced a National Petrochemical Company…
Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world’s second-largest oil consumer.
Brent…
Oil producers should avoid making commitments that will pay off years from now when the market could be far weaker than at present.
Not…