US Drillers Add Oil and Gas Rigs for Second Week in a Row, Says Baker Hughes

(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since early February, energy services firm…

19 Million Barrels of Russian Crude Cleared for Sale in Asia

Refiners can legally buy at least 19 million barrels of Russian crude held on 25 tankers in Asia under the one-month U.S. waiver allowing sales as Middle Eastern supply is…

Banks Hike Oil Price Forecasts, and Some See $150 Crude

Investment banks are scrambling to revise up their oil price forecasts as the Middle East war cripples supply from the most important oil-producing region, with some expecting oil to surge…

Middle East Conflict Halts 15% of TotalEnergies Oil and Gas Production

The war in the Middle East has effectively shut in 15% of TotalEnergies’ global oil and gas output, while the now-offline barrels account for about 10% of the supermajor’s upstream…

Kazakhstan’s Tengiz Oilfield Supply Uninterrupted Despite New Incident

The operator of Tengiz, the biggest oilfield in Kazakhstan, on Friday said it is investigating an incident from Wednesday, which has not interrupted supply.  The field, operated by a Chevron-led…

BP Says Whiting Refinery Union Workers Reject its Latest Employment Contract

BP said late on Thursday that its represented workforce at its Whiting refinery in Indiana has voted not to ratify the company’s last, best, and final offer. “BP will continue…

Global EV Sales Slip Again as China’s Market Stalls

Sales of electric vehicles globally booked another monthly decline in February, after dipping in January, mostly on the back of a marked slowdown in purchases in China. The country, which…

Gulf Oil Producers Have Already Lost $15 Billion Since the Start of the War

Oil producers in the Arab Gulf have already lost at least $15.1 billion in oil and gas revenues since the start of the Middle East war, per estimates by commodities…

Goldman Sachs Hikes Brent Oil Forecast to Over $100 for March

Goldman Sachs expects Brent Crude prices to average over $100 per barrel this month as the Middle East war continues to choke supply, the investment bank said on Friday, noting…