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U.S. oil production hit a new record high in August, marking a significant milestone in the nation's energy output. This surge in production underscores the continued growth and efficiency of the U.S. oil industry, solidifying its position as the world's leading oil producer. The latest figures show that U.S. oil companies are pumping more crude than ever before, even as the number of active drill
Oil prices climbed for the third straight session on Thursday, as positive U.S. jobs data alleviated demand worries and ongoing conflict in the Middle East spurred a recovery from Monday's eight-month low.
Read MoreThe diesel fuel industry is undergoing significant changes, driven by a combination of economic, environmental, and technological factors. As we transition toward more sustainable energy sources, the future of diesel fuel is being reshaped in unexpected ways. Here’s a closer look at what’s happening in this crucial sector.
Read Moreet fuel, specifically Jet A-1, plays a crucial role in the aviation industry. The price of this fuel not only affects airline operating costs but also impacts ticket prices and the overall economy. In this blog post, we explore the current pricing trends, factors influencing these prices, and the implications for the industry.
Read MoreAs of July 2024, crude oil prices have shown a modest recovery from earlier lows. Brent crude, a major benchmark, is trading around $88 per barrel, up from $82 per barrel in June. This increase follows a dip to $75 per barrel after OPEC+ announced it would begin unwinding production cuts later this year.
Read MorePemex, once a global oil giant, is now burdened by debt and declining production. The Mexican government's support for Pemex has come at a high cost. Pemex faces challenges in both addressing environmental concerns and attracting investment.
Read MoreWellesley Petroleum has confirmed a significant gas and condensate discovery offshore Norway, as verified by the Norwegian Petroleum Directorate (NPD).
Read MoreBP shares tumbled 4.3% after the company issued a warning about potential impairments of up to $2 billion, coupled with reports of weak refining margins. This development has raised concerns among investors about the company's near-term profitability and overall financial health.
Read MoreAfter years of being more or less isolated from the rest of the world, U.S. benchmark natural gas prices are becoming an influential force in shaping the structure of many contracts on the global LNG market.
Read MoreIn the southern region of Iraq, along the coast of the Persian Gulf, lies the Basrah Iraqi Crude Port, a pivotal player in the global oil industry. As the principal outlet for Iraq’s oil exports, Basrah port is not only essential for the country's economy but also plays a significant role in the international energy market.
Read MoreWhen discussing oil traded on financial markets, two primary types are distinguished: WTI and Brent.
Read MoreOil prices have remained relatively stable over the past quarter, continuing a trend seen since late 2022. Will the next three months bring a significant shift? Here are the latest oil forecasts and price predictions for the second half of 2024 and beyond.
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