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Russia’s Crude Exports Set to Fall as Diesel Production Rises ...

2026-10-27T18:30:00Z

Russia’s Crude Exports Set to Fall as Diesel Production Rises

Russia's crude exports from its western ports could fall by as much as 200,000 barrels per day in November as refiners increase diesel production under Moscow's new agreement with Washington, according to preliminary loading schedules cited by Reuters on Tuesday. Two traders expect shipments from Russia's Baltic and Black Sea ports to decline by 100,000 to 200,000 bpd from October. The estimates include Kazakh crude transported through Russian pipelines. Russian refineries have increased processing since the October 9 diesel agreement between Presidents…

https://oilprice.com/Latest-Energy-News/World-News/Russias-Crude-Exports-Set-to-Fall-as-Diesel-Production-Rises.html

What Happens When America's Power Grid Becomes a Last Resort? ...

2026-10-27T18:00:00Z

What Happens When America's Power Grid Becomes a Last Resort?

Good news. Electric grid reliability was a lot better in 2025 than in 2024. But one swallow does not make a spring, as Aristotle noted, a number of years ago. Grid reliability, we believe, has been trending downward since the turn of the century, that is, since deregulation really got rolling. Okay, you could argue, as a good logician, that this is an example of a post hoc ergo propter hoc fallacy, that is, because event B took place after event A must mean that A caused B. We admit that. We’re just pointing out the chronology,…

https://oilprice.com/Energy/Energy-General/What-Happens-When-Americas-Power-Grid-Becomes-a-Last-Resort.html

45,000 Nvidia Blackwell GPUs Cleared for Kazakhstan Data Center ...

2026-10-27T17:00:00Z

45,000 Nvidia Blackwell GPUs Cleared for Kazakhstan Data Center

Kazakhstan marked perhaps the high point of its presidentially proclaimed “year of artificial intelligence” with a visit by technology titan, Jensen Huang, CEO of Nvidia, who said the Central Asian state has the potential to become “a global hub for Physical AI.” Huang and Kazakh President Kassym-Jomart Tokayev met on October 23 for talks aimed at bolstering collaboration between the chipmaking giant and Kazakh companies. Huang praised the Kazakh tech ecosystem as possessing all the prerequisites to become an AI…

https://oilprice.com/Energy/Energy-General/45000-Nvidia-Blackwell-GPUs-Cleared-for-Kazakhstan-Data-Center.html

Oil Markets Brace for a New Iran Escalation After U.S. Midterms ...

2026-10-27T16:37:35Z

Oil Markets Brace for a New Iran Escalation After U.S. Midterms

Brent holds near $115 as Iran war tensions and escalating Saudi-Houthi hostilities keep oil markets on edge ahead of U.S. midterms. Hormuz Becomes Even More Dangerous — and More Expensive - October has seen the most acute escalation in maritime attacks since the US-Iran war started eight months ago, with already more than 30 incidents recorded in the Strait of Hormuz and surrounding waterways, up from 14 in September. - The most recent addition to the list of maritime targets is a crude tanker in Iraq’s exclusive economic…

https://oilprice.com/Energy/Crude-Oil/Oil-Markets-Brace-for-a-New-Iran-Escalation-After-US-Midterms.html

U.S. Military Eyes Nuclear Reactors to Survive 90 Days Without ...

2026-10-27T16:00:00Z

U.S. Military Eyes Nuclear Reactors to Survive 90 Days Without the Grid

The Department of Defense is preparing for a potential "doomsday" scenario in which America's power grid collapses, supply chains grind to a halt, and military installations are forced to operate for three months without outside support, according to Fox News. The unprecedented plan, branded FORTRESS by Pentagon planners, aims to make major military bases across the continental United States capable of functioning independently for at least 90 days, according to documents obtained by the news outlet. U.S. Air Force airmen and civilian contractors…

https://oilprice.com/Alternative-Energy/Nuclear-Power/US-Military-Eyes-Nuclear-Reactors-to-Survive-90-Days-Without-the-Grid.html

How Many Barrels of Oil Do AI Data Centers Consume on a Daily ...

2026-06-23T00:00:00Z

How Many Barrels of Oil Do AI Data Centers Consume on a Daily Basis?

Back in 2017, we did the math to figure out how much oil it takes to mine a single Bitcoin. The answer then was about 20 barrels of oil equivalent per coin. Today it's closer to 500. The Bitcoin network now draws somewhere between 138 and 175 terawatt-hours a year, depending on whose model you trust… Split across the roughly 164,000 coins minted annually since the last halving, that lands at around 500 barrels of oil equivalent at today’s prices per Bitcoin, and past 600 on the higher estimates. But Bitcoin is the warm-up…

https://oilprice.com/Energy/Energy-General/How-Many-Barrels-of-Oil-Do-AI-Data-Centers-Consume-on-a-Daily-Basis.html

The Oil Crisis Is Far From Over The outline of conditions and ...

2026-06-22T18:00:00Z

The Oil Crisis Is Far From Over

The outline of conditions and topics for a negotiated settlement of the U.S.-Iran conflict, called a Memorandum of Understanding (MOU) and signed by both sides last week, in all probability won't prevent the approaching energy cliff. That cliff will be the result of fast-depleting commercial and strategic inventories of oil and oil products around the world that have acted as buffers in the wake of the suspension of almost all tanker traffic through the Strait of Hormuz during the conflict - tankers believed to carry about 20 percent of the world's…

https://oilprice.com/Energy/Energy-General/The-Oil-Crisis-Is-Far-From-Over.html

Iran’s Oil Exports Through Hormuz Hit Wartime High Iran isn’t ...

2026-06-22T12:30:00Z

Iran’s Oil Exports Through Hormuz Hit Wartime High

Iran isn’t wasting any time moving its oil out of the Gulf via the Strait of Hormuz after the U.S. lifted the naval blockade outside the chokepoint and the U.S. and Iran discuss a framework on a lasting peace deal. While Western shippers and insurers remain wary of the conflicting signals about how open the Strait of Hormuz really is, Iran is rushing to evacuate barrels it wasn’t able to push past the U.S. blockade over the past two months. At least three supertankers, carrying a total of 6 million barrels of Iranian crude, moved to…

https://oilprice.com/Latest-Energy-News/World-News/Irans-Oil-Exports-Through-Hormuz-Hit-Wartime-High.html

The AI Arms Race Isn’t About Technology – It’s About ...

2026-06-22T00:00:00Z

The AI Arms Race Isn’t About Technology – It’s About Electricity

Two and a half years ago, NVIDIA was a $300 billion gaming chip company. Today it's the most valuable company in history at over $4 trillion. Investors who saw what was coming and got positioned early made generational money. A $10,000 stake in NVIDIA at the start of 2023 is worth more than $130,000 today. The trade looks obvious in hindsight, but very few investors caught it in real time. Demand for AI compute had exploded, the supply of high-end chips couldn't catch up, and NVIDIA happened to be the only company on earth capable of making what…

https://oilprice.com/Energy/Energy-General/The-AI-Arms-Race-Isnt-About-Technology-Its-About-Electricity.html

Goldman Sachs Warns Strait of Hormuz Traffic May Never Fully ...

2026-06-18T09:30:00Z

Goldman Sachs Warns Strait of Hormuz Traffic May Never Fully Recover

Tanker traffic via the Strait of Hormuz may never fully recover to pre-war levels thanks to alternative routes that oil producers in the Middle East have tapped amid the crisis, Goldman Sachs analysts have warned. According to them, oil flows from the chokepoint could only recover to 70% of pre-war levels, or 13 million barrels daily. The recovery could take a little over a month, with that 70% of traffic achieved by the end of July, Bloomberg reported, citing the investment bank’s analysts. They also said full production recovery would take…

https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sachs-Warns-Strait-of-Hormuz-Traffic-May-Never-Fully-Recover.html

The Invisible Energy Crisis Threatening to Derail the AI Boom ...

2026-06-18T00:00:00Z

The Invisible Energy Crisis Threatening to Derail the AI Boom

Every AI boom forecast being published right now — every bull case, Big Tech earnings call, and valuation model — seems to be making the same assumption. The electricity will be there to power it when they need it. It won’t. Bitzero (NASDAQ: AIBZ) spent the last four years betting against that assumption. The company locked in more than a gigawatt of low-cost power across Norway, Finland, and North Dakota, well before the rest of the industry started fighting over every available megawatt. The company is already cash flow positive,…

https://oilprice.com/Energy/Energy-General/The-Invisible-Energy-Crisis-Threatening-to-Derail-the-AI-Boom.html

TotalEnergies: Saudi Refinery Won’t Fully Recover Until 2027 A ...

2026-06-17T15:30:00Z

TotalEnergies: Saudi Refinery Won’t Fully Recover Until 2027

A major Saudi Arabian refinery damaged during the Iran conflict will not return to full operations until early 2027, according to TotalEnergies CEO Patrick Pouyanné, raising fresh concerns about the pace of recovery in global fuel markets even as a U.S.-Iran peace agreement moves forward. Speaking before France’s National Assembly on Wednesday, Pouyanné said the 460,000-barrel-per-day SATORP refinery in Saudi Arabia is still operating at only 70% capacity after being struck by three drones in April. “Our Saudi Arabian…

https://oilprice.com/Latest-Energy-News/World-News/TotalEnergies-Saudi-Refinery-Wont-Fully-Recover-Until-2027.html

China’s Gasoline Car Market Is Crashing as Fuel Prices Surge ...

2026-06-17T08:30:00Z

China’s Gasoline Car Market Is Crashing as Fuel Prices Surge

Gasoline car demand in China is slumping on higher fuel prices resulting from the crisis in the Middle East, with gas guzzlers such as Range Rover, fetching discounts of up to 60%, Bloomberg reported, citing Chinese media. The report also cited data from the Chinese Passenger Car Association showing discounts on gasoline cars had almost doubled over the first five months of the year as oil—and fuel—prices crept up. Chinese passenger car sales dropped by over 22% in May, data released earlier showed, while EV and hybrid vehicle sales…

https://oilprice.com/Latest-Energy-News/World-News/Chinas-Gasoline-Car-Market-Is-Crashing-as-Fuel-Prices-Surge.html

China’s Sinopec to Slash Refinery Rates amid Crude Supply Shock ...

2026-03-13T17:30:00Z

China’s Sinopec to Slash Refinery Rates amid Crude Supply Shock

The top Asian refiner, China’s state-controlled Sinopec, plans to slash this month its refinery processing rates by 11-13% as crude supply is choked by the Middle East war, Reuters reported on Friday, quoting sources with knowledge of the refining giant’s operations. Sinopec, whose refineries account for a third of all Chinese throughput, plans to lower its crude runs by between 600,000 and 700,000 barrels per day (bpd) in March, from initial plans to process 5.2 million bpd. The loss in refinery throughput does not include regular…

https://oilprice.com/Latest-Energy-News/World-News/Chinas-Sinopec-to-Slash-Refinery-Rates-amid-Crude-Supply-Shock.html

Canadian Crude Cashes In on War Premium Just a month ago, ...

2026-03-13T00:00:00Z

Canadian Crude Cashes In on War Premium

Just a month ago, Alberta’s finance ministry announced a budget featuring annual deficits for three years in a row on the back of low oil prices. Now, Canadian crude oil producers are set to “benefit disproportionately” from the war in the Middle East thanks to the fact that Canadian crude prices follow WTI closely—and WTI is spiking. When Minister Nate Horner presented the budget for Canada’s oil province, he said expectations were that oil prices would bottom out this year and start rising in 2027. Little could Horner…

https://oilprice.com/Energy/Crude-Oil/Canadian-Crude-Cashes-In-on-War-Premium.html

DOE Unveils $1.9 Billion Electric Grid Upgrade Push The U.S. ...

2026-03-12T20:30:00Z

DOE Unveils $1.9 Billion Electric Grid Upgrade Push

The U.S. Department of Energy is launching a $1.9 billion funding effort aimed at rapidly expanding the capacity of the nation’s power grid by upgrading existing transmission lines. This is instead of building entirely new ones. The initiative, called Speed to Power through Accelerated Reconductoring and other Key Advanced Transmission Technology Upgrades—mercifully shortened to SPARK—will fund projects that replace existing transmission wires with higher-capacity conductors and deploy advanced grid technologies designed to squeeze…

https://oilprice.com/Latest-Energy-News/World-News/DOE-Unveils-19-Billion-Electric-Grid-Upgrade-Push.html

The UAE’s Energy Playbook Is Paying Off Amid Global Turmoil ...

2026-03-12T19:00:00Z

The UAE’s Energy Playbook Is Paying Off Amid Global Turmoil

Energy markets have entered an unprecedented crisis, pushing the world to look instinctively toward the largest producers: Saudi Arabia, the United States, or Russia. However, in the background, but sometimes hitting already the headlines, of today’s geopolitical turbulence, especially due to the ongoing, escalating confrontation around Iran, showing the fragility of maritime chokepoints (Hormuz), another actor has already, for years, quietly become indispensable to the current and future stability of global energy. The United Arab Emirates,…

https://oilprice.com/Energy/Crude-Oil/The-UAEs-Energy-Playbook-Is-Paying-Off-Amid-Global-Turmoil.html

Goldman Sachs Raises Oil Price Forecast as Middle East Conflict ...

2026-03-12T06:37:59Z

Goldman Sachs Raises Oil Price Forecast as Middle East Conflict Escalates

Goldman Sachs has once again revised its oil price outlook, now expecting Brent crude to trade at $71 per barrel in the final quarter of the year, and WTI to average $67 per barrel over the same period, Reuters reported, citing the bank’s analysts. The investment bank’s earlier price outlook saw Brent crude at $66 per barrel in the last quarter of 2026 and WTI at $62 per barrel. At the moment, Brent crude is hovering around $100 per barrel, and WTI is above $90 per barrel. Goldman’s revision was based on an assumption that oil…

https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sachs-Raises-Oil-Price-Forecast-as-Middle-East-Conflict-Escalates.html

Chevron and Shell Move Closer to New Oil Deals in Venezuela ...

2026-03-11T06:39:37Z

Chevron and Shell Move Closer to New Oil Deals in Venezuela

Chevron and Shell are reportedly close to sealing deals for oil production in Venezuela following the United States’ takeover of the country’s energy industry, Reuters wrote, citing unnamed sources. Both companies had already secured preliminary deals with the Venezuelan authorities. Per the sources, Chevron is in talks to expand production at its Petropiar joint venture operation with PDVSA, tapping an adjacent deposit to the one currently under exploitation. The supermajor is currently seeking to negotiate lower royalty rates for…

https://oilprice.com/Latest-Energy-News/World-News/Chevron-and-Shell-Move-Closer-to-New-Oil-Deals-in-Venezuela.html

Why Trump Wants Magnets More Than Gold Beginning in 2027, the ...

2026-03-06T10:00:00Z

Why Trump Wants Magnets More Than Gold

Beginning in 2027, the Pentagon will prohibit the use of Chinese-origin rare earth magnet materials in U.S. military platforms. That mandate cuts through the American defense industrial base, compelling manufacturers to verify the origin of the rare earth metal inside their systems–all the way back to the beginning of the processing chain. Defense giants like Lockheed Martin are overhauling their magnet supply chains to avoid non-compliance in 2027, warning that rare earth sourcing restrictions require traceability down to the mining level…

https://oilprice.com/Energy/Energy-General/Why-Trump-Wants-Magnets-More-Than-Gold.html

Qatar Leases Tankers as LNG Market Hits Crisis Mode Qatar has ...

2026-03-06T07:30:00Z

Qatar Leases Tankers as LNG Market Hits Crisis Mode

Qatar has offered two LNG carriers for lease amid a vessel crunch in the liquefied natural gas market and soaring daily rates, Bloomberg has reported, citing unnamed trading sources. The LNG carriers are off the west coast of Africa, the report noted. Qatar’s offer follows a massive surge in LNG tanker rates because of the traffic disruption in the Strait of Hormuz. This has seen charter rates for the vessels go from about $40,000 per day last week to as much as $300,000 per day on the route between the U.S. Gulf Coast and Europe. Rates on…

https://oilprice.com/Latest-Energy-News/World-News/Qatar-Leases-Tankers-as-LNG-Market-Hits-Crisis-Mode.html

Japanese Refiners Urge Government to Release Strategic Oil ...

2026-03-05T15:30:00Z

Japanese Refiners Urge Government to Release Strategic Oil Reserves

Japan’s oil refiners, which source about 95% of their crude supply from the Middle East, are calling on the Japanese government to tap the strategic petroleum reserves to ensure smooth operations and crude for refineries as the Middle East war escalates. Japanese refiners are in talks with the government to potentially access strategic stockpiles and oil stored in tanks that are leased to producing countries, anonymous sources with knowledge of the development told Bloomberg on Thursday. On Tuesday,…

https://oilprice.com/Latest-Energy-News/World-News/Japanese-Refiners-Urge-Government-to-Release-Strategic-Oil-Reserves.html

LNG Shipping Rates Soar 650% to $300,000 Per Day The global LNG ...

2026-03-05T13:10:00Z

LNG Shipping Rates Soar 650% to $300,000 Per Day

The global LNG shipping market has turned sharply higher in recent days, with charter rates for modern LNG carriers surging from roughly $40,000 last week to around $300,000 per day as traders scramble to secure vessels amid escalating disruption in the Middle East. According to shipbroker Fearnleys’ latest weekly LNG report, cited by Riviera Maritime Media, daily spot charter rates for 174,000-cubic-meter LNG carriers along the U.S. Gulf-Europe route have climbed to approximately $300,000 per day, up about $260,000 compared with last week.…

https://oilprice.com/Latest-Energy-News/World-News/LNG-Shipping-Rates-Soar-650-to-300000-Per-Day.html

Inside North America’s First Fully Integrated Rare Earth ...

2026-02-28T16:01:00Z

Inside North America’s First Fully Integrated Rare Earth Facility

For decades, the West has been sleepwalking into dependency. While we built the world’s most advanced fighter jets, smartphones, and electric vehicles, we quietly surrendered the most important component of modern tech. Rare earth elements. Today, China controls 95% of the world’s rare earth processing capacity…a leverage point so powerful, it could cripple Western economies in a matter of months. But in the heart of Canada, the tide is finally turning. Saskatchewan Research Council (SRC), Canada’s second-largest research…

https://oilprice.com/Interviews/Inside-North-Americas-First-Fully-Integrated-Rare-Earth-Facility.html

Zelenskyy Pushes for Trilateral Summit With U.S. and Russia in ...

2026-02-27T15:00:00Z

Zelenskyy Pushes for Trilateral Summit With U.S. and Russia in Abu Dhabi

President Volodymyr Zelenskyy said that Kyiv is counting on a future trilateral meeting with the United States and Russia to take place in early March after Ukrainian and US negotiating teams wrapped up the latest round of peace talks in Switzerland. Zelenskyy said in a video address on Telegram after the February 26 meeting in Geneva, Switzerland, that "there is more readiness for the next trilateral format. "Most likely, the next meeting will be in the United Arab Emirates, in Abu Dhabi," he said. Urging the finalization of what Ukrainian and…

https://oilprice.com/Energy/Energy-General/Zelenskyy-Pushes-for-Trilateral-Summit-With-US-and-Russia-in-Abu-Dhabi.html

Oil Prices Set for Weekly Decline as Risk Premium Eases Crude oil ...

2026-02-27T06:45:00Z

Oil Prices Set for Weekly Decline as Risk Premium Eases

Crude oil prices were on course for their first weekly decline in four weeks as the United States and Iran signaled they were willing to continue negotiating instead of escalating to a hot war. At the time of writing, Brent crude was trading at $71 per barrel, with West Texas Intermediate at $65.56 per barrel, after three weeks of gains. Brent crude has gained more than $3 per barrel over the past four weeks, and WTI is also up by some $3 per barrel. “Traders are in wait-and-see mode heading into the weekend with Iran tensions mounting on…

https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Set-for-Weekly-Decline-as-Risk-Premium-Eases.html

Cheniere’s Profit Soars by 64% in 2025 as LNG Demand Jumps ...

2026-02-26T18:30:00Z

Cheniere’s Profit Soars by 64% in 2025 as LNG Demand Jumps

Cheniere Energy (NYSE: LNG), the biggest U.S. LNG exporter, booked a 64% surge in its net income for 2025 from a year earlier, as it produced and exported a record amount of the fuel last year. Cheniere on Thursday reported a net income of $5.33 billion for 2025, up by 64% from 2024, on revenues increased by 27% to $19.976 billion. Consolidated adjusted core earnings, or EBITDA, rose by 13% to $6.943 billion as both the number of exported cargoes and LNG volumes increased by 4%. Cheniere produced record amount of LNG in 2025, with 670 cargoes…

https://oilprice.com/Latest-Energy-News/World-News/Chenieres-Profit-Soars-by-64-in-2025-as-LNG-Demand-Jumps.html

Exxon Mobil's Guyana Triumph Becomes Global Sales Pitch Exxon ...

2026-02-26T18:00:00Z

Exxon Mobil's Guyana Triumph Becomes Global Sales Pitch

Exxon Mobil Corp. is using its rapid buildout in Guyana as a selling point in talks with other governments looking to develop oil and gas reserves, according to Bloomberg. The company says the speed and efficiency of its offshore projects there — which lifted production from zero to nearly 1 million barrels a day in just over six years — show it can execute complex developments better than rivals. Chief Executive Officer Darren Woods calls that a “unique value proposition” for host countries. “We’re going…

https://oilprice.com/Energy/Energy-General/Exxon-Mobils-Guyana-Triumph-Becomes-Global-Sales-Pitch.html

Eni’s Oil and Gas Production Jumps 7% with Six New Projects ...

2026-02-26T15:30:00Z

Eni’s Oil and Gas Production Jumps 7% with Six New Projects

Eni’s oil and gas production rose by 7% in the fourth quarter from a year earlier as the Italian energy major started up six major new projects in 2025. Fourth-quarter output was 1.84 million barrels of oil equivalent per day (boe/d), up by 5% from the previous quarter, Eni said in its Q4 and full-year earnings release on Thursday. The rise in the fourth quarter lifted full-year 2025 production to an average of 1.73 million boe/d, which marked 4% underlying growth from the prior year, and exceeded the company’s guidance…

https://oilprice.com/Latest-Energy-News/World-News/Enis-Oil-and-Gas-Production-Jumps-7-with-Six-New-Projects.html

Trump Urges Tech Giants to Build Their Own Power Plants for AI ...

2026-02-25T06:35:00Z

Trump Urges Tech Giants to Build Their Own Power Plants for AI Expansion

President Donald Trump urged information technology companies racing to expand in artificial intelligence to build their own power plants to avoid saddling household consumers with the bill for that expansion. “Tonight, I'm pleased to announce that I have negotiated the new rate payer protection pledge. You know what that is? We're telling the major tech companies that they have the obligation to provide for their own power needs,” Trump said in his State of the Union address, as quoted by Reuters. “We have an old grid. It could…

https://oilprice.com/Latest-Energy-News/World-News/Trump-Urges-Tech-Giants-to-Build-Their-Own-Power-Plants-for-AI-Expansion.html

Why Central Asia Matters on Trump’s “Board of Peace” The ...

2026-02-24T19:00:00Z

Why Central Asia Matters on Trump’s “Board of Peace”

The presidents of Kazakhstan and Uzbekistan attended the inaugural meeting of US President Donald Trump’s Board of Peace in Washington, DC on 19 February 2026. The Board has been promoted as the tool to rebuild the Gaza Strip, so why were two Central Asian republics in attendance? In an era when global institutions are strained, and geopolitical competition is intensifying, Kazakhstan and Uzbekistan have emerged as unlikely but valuable contributors to the US President Donald Trump’s signature project now that the Abraham Accords…

https://oilprice.com/Energy/Energy-General/Why-Central-Asia-Matters-on-Trumps-Board-of-Peace.html

Saudi Arabia’s New U.S. LNG Deal Marks a Stunning Geopolitical ...

2026-02-23T16:00:00Z

Saudi Arabia’s New U.S. LNG Deal Marks a Stunning Geopolitical Reversal

The signing of a 20-year agreement for U.S. gas producer Caturus’s Commonwealth liquefied natural gas (LNG) division to supply one million tonnes per ‌annum of LNG to Saudi Arabia’s Aramco is enormously significant both inside and outside the energy market. At a time when LNG has become the world’s most flexible instrument of energy statecraft, the decision by Aramco to lock in U.S. supply for two decades may speak to a deeper geopolitical recalibration underway in Riyadh. For Washington, meanwhile, the agreement offers a…

https://oilprice.com/Energy/Natural-Gas/Saudi-Arabias-New-US-LNG-Deal-Marks-a-Stunning-Geopolitical-Reversal.html

Iran Signals Openness to Nuclear Deal as U.S. Military Pressure ...

2026-02-23T15:00:00Z

Iran Signals Openness to Nuclear Deal as U.S. Military Pressure Mounts

The Iranian government, facing pressure at home with a growing opposition and globally with threats of a US military strike, appears ready for a third round of Omani-mediated talks with American negotiators in the upcoming week. Omani Foreign Minister Badr Albusaidi on February 22 said talks would resume on February 26 in Geneva "with a positive push to go the extra mile toward finalizing the deal" over Iran’s nuclear program. In separate remarks, the Iranian government suggested talks in the Swiss city on that date. US officials did not…

https://oilprice.com/Geopolitics/Middle-East/Iran-Signals-Openness-to-Nuclear-Deal-as-US-Military-Pressure-Mounts.html

Chevron Moves to Acquire Lukoil's Major West Qurna 2 Oilfield ...

2026-02-23T13:00:00Z

Chevron Moves to Acquire Lukoil's Major West Qurna 2 Oilfield in Iraq

Chevron has signed a preliminary deal with Iraq’s Basra Oil Company to discuss the potential sale of the giant Iraqi oilfield West Qurna 2, formerly operated by Russia’s Lukoil, to the U.S. supermajor. The preliminary agreement, signed on Monday, allows exchange of confidential data and could lead to exclusive talks for Chevron to take over West Qurna 2, whose operations were recently transferred to the Iraqi state-owned company. The preliminary agreements also establish an outline for a period of exclusive negotiations,…

https://oilprice.com/Latest-Energy-News/World-News/Chevron-Moves-to-Acquire-Lukoils-Major-West-Qurna-2-Oilfield-in-Iraq.html

Why Blaming 32 Companies for Half the World’s CO2 Misses the ...

2026-02-19T20:00:00Z

Why Blaming 32 Companies for Half the World’s CO2 Misses the Point

Every few years, a statistic captures the climate debate and briefly dominates headlines. The latest one comes from an analysis highlighted by Inside Climate News, claiming that just 32 companies are responsible for roughly half of global carbon dioxide emissions. It is a striking figure. It is also deeply unconstructive. Not because the data is wrong, but because the conclusion many draw from it has very little to do with how emissions can actually be reduced in a complex, fast-changing global energy system. Correlation Is Not Control Most of…

https://oilprice.com/Energy/Energy-General/Why-Blaming-32-Companies-for-Half-the-Worlds-CO2-Misses-the-Point.html

Oil Demand Slumped by 614,000 Bpd in December on U.S. Decline ...

2026-02-19T16:30:00Z

Oil Demand Slumped by 614,000 Bpd in December on U.S. Decline

Global oil demand fell by 614,000 barrels per day (bpd) in December compared to November 2025, and plunged by 536,000 bpd from December 2024, driven by lower U.S. demand, the monthly report by the Joint Organizations Data Initiative (JODI) showed on Thursday. At the same time, oil production surged by 2 million bpd in December 2025 compared to the same month of 2024, according to the most recent data self-reported by 48 countries to JODI and shared by the Riyadh-based International Energy Forum (IEF). The surge…

https://oilprice.com/Latest-Energy-News/World-News/Oil-Demand-Slumped-by-614000-Bpd-in-December-on-US-Decline.html

Nigeria to Channel All Oil Proceeds to Boost Federal Finances ...

2026-02-19T12:00:00Z

Nigeria to Channel All Oil Proceeds to Boost Federal Finances

Nigeria is now channeling all proceeds from oil and gas production to a single federal account as it aims to strengthen the central government budget and ensure a more effective distribution of income, Nigerian President Bola Ahmed Tinubu has said. The oil industry has been Nigeria’s main budget income for decades. However, overlapping funds have not allowed a fair and transparent revenue collection and subsequent distribution of the money to fund healthcare, education, and stabilize the economy, the president said in an X post. …

https://oilprice.com/Latest-Energy-News/World-News/Nigeria-to-Channel-All-Oil-Proceeds-to-Boost-Federal-Finances.html