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Goldman Sachs stated that oil price risks remain tilted significantly to the upside near-term. Under a severe Middle East disruption scenario, Brent could exceed $120 per barrel, driven by shipping a…
US equity futures rebounded 0.6% ahead of key August consumer inflation data, breaking a four-session losing streak. Meanwhile, WTI and Brent crude dropped over 3% following downward revisions to glo…
Oil prices surged as escalating U.S.-Iran military strikes intensified geopolitical supply risks. WTI rose 1.4% to $92.72 and Brent neared $100 per barrel, further supported by tightening global crud…
Chevron will invest over $7 billion in Venezuela over five years to double crude production to 600,000 bpd at sub-$20 costs. The expanded output and infrastructure rehabilitation signal rising medium…
Baker Hughes reported U.S. oil rigs rose by two this week to 449, up 35 from a year ago. The increase accompanies record domestic crude output near 13.9 million barrels per day, which the EIA expects…
Brent crude dipped to $95 per barrel but surged nearly 8% weekly amid escalating US-Iran tensions and potential Strait of Hormuz disruptions. Gains were tempered by rising Iraqi oil exports and expec…
WTI crude surged nearly 10% this week, tracking its largest weekly gain since mid-July amid escalating U.S.-Iran tensions and fears of Persian Gulf supply constraints. Diminishing inventory buffers c…
A U.S.-backed deal granting NABEP control over major Venezuelan oilfields shifts crude supplies away from China and pledges up to $100 billion in infrastructure investment. The agreement threatens Be…
US natural gas prices slipped 1.06% as cooler weather forecasts curbed cooling demand. However, downside was cushioned by surging European gas prices linked to Strait of Hormuz tensions, alongside re…
WTI crude oil edged lower to $90.68 per barrel on technical profit-taking following a three-day rally. However, sharp inventory declines of 4.5 million barrels and rising Middle East geopolitical ten…
US energy firms, including Chevron, signed multibillion-dollar deals with Venezuela to ramp up oil production following an agreement granting the US access to massive crude reserves. The deals aim to…
Chevron plans to invest over $7 billion in Venezuela over five years, aiming to double crude production to 600,000 barrels per day. The expansion secures low-cost reserves under improved terms, while…
OPEC+ is set to maintain its oil production policy for October amid ongoing Gulf export bottlenecks through the Strait of Hormuz. With actual physical supply lagging quotas and geopolitical tensions …
Venezuela is unlikely to leave OPEC soon as output remains subdued and below quota limits. Production is projected to reach just 1.4 million barrels daily by late 2027, delaying meaningful upstream s…
Chevron plans to invest $7 billion in Venezuela to double its crude production to 600,000 barrels per day by 2031. Exploiting low-cost Orinoco Belt reserves, Chevron remains the sole major US operato…
US crude oil inventories plunged by 4.45 million barrels in late August, marking the first decline in five weeks and significantly exceeding expectations for a 1.1 million-barrel draw.
August commodity markets defied seasonal trends as extreme weather and Black Sea disruptions drove agricultural gains. Crude oil prices held steady between $80 and $90 amid Middle East tensions, whil…
Chevron currently pumps approximately 280,000 barrels of oil per day through Venezuelan joint ventures and plans to expand output by 50% over the next two years.
The Trump administration backed private operator NABEP in a 100-year concession covering 65 billion barrels of Venezuelan oil reserves. NABEP plans to invest up to $100 billion to boost production, e…
Oil shipments via the Strait of Hormuz are likely higher than preliminary vessel tracking indicates, according to Kpler, as unconfirmed dark fleet movements usually revise volume data upward, allevia…