Glut Hysteria Clashes with Missing Oil Barrels

A looming oil glut has taken over the energy commodities market as the dominating sentiment among traders and analysts. Everyone is predicting a glut—the only difference is in its size. But there is a fly in the bearish ointment. The IEA admitted this week that it was unable to account for 1.47 million barrels of supply. The International Energy Agency deepened the glut mood last week, when it predicted a supply overhang of 2.35 million barrels daily for this year, and an all-time high surplus of 4 million barrels daily for 2026. In the same…

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Massive U.S. Tariffs Drive Closer India-Brazil Alliance

Two of the founding members of the BRICS alliance, India and Brazil, drew the short straw when it comes to new U.S. trade policy. South America’s largest economy and Asia’s second-biggest economy have both been slapped with 50% tariffs on their goods exported to the United States. Faced with the highest U.S. tariffs of any nation, India and Brazil are seeking closer strategic, economic, trade, and energy cooperation and have recently signed deals to expand their trade agreements. Brazil’s Vice President Geraldo Alckmin visited…

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What’s The West Up To In Its Talks With Iraq Over Building Out An LNG Sector?

There is a lot more than meets the eye to a series of meetings by U.S. and European firms recently to talk to Iraq’s leadership about opportunities in the liquefied natural gas (LNG) sector. Since Russia invaded Ukraine in 2022, LNG has become the world’s emergency energy source, as unlike pipelined gas or oil, it can be secured and shipped very quickly to wherever it is needed. Iraq does not have an LNG sector to speak of, but it is now planning to build   its first LNG import terminal at Khor Al-Zubair port, with a second…

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Britain’s Green Energy Plan To Create 400,000 New Jobs

Two drastically different trends in energy careers are taking place on either side of the Atlantic Ocean. While the Trump administration pulls back billions of dollars in clean energy funding and seeks to prop up coal careers, the United Kingdom is rolling out a plan to add 400,000 clean energy jobs to the national economy. Just this week Edward Miliband, the Secretary of State for Energy and Climate Change of the United Kingdom, announced a national plan to train hundreds of thousands of plumbers, electricians, carpenters, welders, HVAC installers,…

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Oil Soars on Prospects Of New U.S. Sanctions And Surprise Stock Draw

Oil prices jumped ~3.5% in afternoon trading, extending gains to the highest levels in nearly three weeks as traders reacted to reports that Washington is weighing new sanctions on Russian energy exports and to a surprise draw in U.S. crude inventories. Live market data show Brent crude trading around $63.40 a barrel, up 3.39%, as of Wednesday at 4:39 p.m. ET, and West Texas Intermediate (WTI) trading at $59.30, up roughly 3.60%. The late-session rally accelerated after reports that the U.S. administration is considering expanded restrictions on…

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Uncertainty Looms Over Global Shipping’s Green Transition

The International Maritime Organization (IMO) has decided to postpone the adoption of its Net-Zero Framework (NZF) for another year. This delay, while creating additional uncertainty, warrant careful examination of the proposed mechanisms. Prior to the IMO MEPC meeting, in-depth research by Rystad Energy 's maritime decarbonization specialists revealed critical gaps in the current NZF that would to be addressed to ensure an equitable and sustainable transition for the global shipping industry. The delay will now give member states time to refine…

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U.S. Upstream Oil & Gas Dealmaking Falls Again Amid Low Oil Prices

Mergers and acquisitions in the U.S. upstream oil and gas sector fell for a third straight quarter, marking an end to blockbuster takeovers seen in recent years amid persistently low energy prices. According to Enverus Intelligence Research, deals worth $9.7 billion were closed in the third quarter, marking a 28% drop from the second quarter and putting the current year far below the record $192 billion recorded in 2023. U.S. crude futures averaged ~ $65 a barrel during the third quarter, around the level most U.S. oil producers require to break…

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