Trending News: Bessent Says Strait of Hormuz Obsolete Within Two YearsU.S. Shale Producers Lose Bid to Kill Oil Price-Fixing CaseU.S. Crude Inventories Drop amid Continued SPR DrawsU.S. Energy Secretary Says Venezuela Could More Than Double Oil ProductionHormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil MarketsRussia Doubles Dark Fleet to Ship LNG to AsiaU.S. Energy Storage Capacity Installations Hit Record High in Q2Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags OnU.S. Oil Deal Pushes China and Russia Out of Venezuelan FieldsEurope’s Wind Power Buildout Jumps 30% in First HalfPrice, Not Politics, Is Driving Most of India’s Oil BuyingUkrainian Drone Barrage Sets Key Russian Oil Port AblazeSolar Overtakes Coal as China’s Largest Power SourceTwo Supertankers Hit by Unknown Projectiles in Strait of HormuzWhat Is the Oil, Gas Impact of Storm Edouard?India Daily: PM Surya Ghar Subsidy, POWERGRID Acquires Fatehgarh II, BPCL Tenders 1 MW Solar, VPA Advances 10 MW Solar, CEA Backs Flexible ThermalIndian Green Energy Stocks Show Mixed Trend As Adani Green Leads Gains (01 September 2026)Hijau Raises $10 Million to Scale Distributed Solar Projects Across IndonesiaPhilippines DA, DOE Plan 3 Million-Hectare Farmland Shield Against Solar ExpansionMinistry Of Energy Targets 5,200 Schools For Solar Power Installations In Saudi ArabiaCoal Got an Order. Nuclear Got a MeetingCondenser Chemistry Management: From Grab Samples to Predictive Digital TwinsSLB Makes $3.4 Billion Bet on AI Data Center BoomBP Adds 80 MMcf/d to Egypt’s Gas Supply Two Years Ahead of ScheduleChevron, ONGC and GE Vernova Near Final Venezuela Energy DealsOil Prices Climb as Trump Threatens New Strikes on IranBlue Star Helium extends Pinon Canyon offtake deal to 2027Ireland connects second biomethane plant and eyes export potentialgasworld US – September 2026 – Equipment, digitization and distributors issuegasworld Global – September 2026 – LNG & LogisticsH2 View – September 2026: ElectrolysersABO maps development for 600MW Finnish green hydrogen plantChevron nears deal to operate two giant oil fields in Venezuela’s Orinoco BeltFuel loading under way for Palisades restart, Holtec announcesIAEA concern over diesel supply for Zaporizhzhia generatorsTennessee issues licence for fusion plantProposal for Canadian marine-based SMR plantAsia Steps In to Fill Diesel Supply Gap in Africa as Middle East Exports CrashIran Dismisses Trump Claim of Kharg Attack as Hostilities ReturnChina Coking Coal Prices Set for Record 46% Monthly SurgeEurope Gas Prices Jump 5% to Highest Level Since 2023Trump Says Venezuelan Oil Will Refill U.S. Strategic Petroleum ReserveGoldman Sachs Sees Diesel Refining Margins Soaring to $63 a BarrelAsian Refiners Turn to Argentina as Iran War Disrupts Oil SupplyLithium Miners Cash In as Battery Storage Demand SurgesIran Says Supertanker Hit by Mines in Strait of HormuzChina’s LNG Imports Set to Drop 18% in August as Prices SoarTrump Announces ‘Biggest Oil Deal in World History’Philippine National Bank Backs PHP 6.22 Billion Solar And Battery Storage Project In IloiloSEPCOIII Begins Full Commercial Operation Of Saudi Red Sea Utility ProjectIndia Daily: MPERC Drafts MYT Rules, APSERC Reviews 2.75 MW Solar, HERC Clears Green Banking, TGERC Closes Dues Case, UPERC Completes ₹32.74 Cr Refund & More…Iraq Plans 10 GW Solar Expansion To Tackle Power ShortagesGreen Energy Stocks Under Pressure As Indian Markets End Lower On August 31KPI Green Energy Advances 2.57 GWp IPP Portfolio, 1.16 GWp EnergizedTata Power Renewable Energy Commissions 100 MW Group Captive Solar Project In Tamil NaduAustralia Accelerates Next-Generation Solar R&D with $105.6 Million Technology PushGlobal Specialty Gas Supply Chain Outlook – H1 2026UPERC Approves 300 MW Solar PPA At INR 2.57/kWh For 25 Years In Uttar PradeshAHAsolar Technologies Secures Consultancy Work Order for 600 MW Solar Project with 1,800 MWh Energy Storage in RajasthanGas Prices in Asia and Europe Jump as Qatar Extends LNG Force MajeureThe Iran War Has Turned VLCCs Into $650,000-a-Day AssetsVenezuela Helped Build OPEC. Now It May Help Break It ApartTrump says Venezuelan oil will be used to refill U.S. Strategic Petroleum ReserveMiddle East Weekly: Oman Plans Musandam RE Study, Kuwait Fund Backs 11 MW Solar, L&T Wins 6 GWh BESS Order, ACWA–KOWEPO Partner on RE, NHC–EDF Partner on Clean Energy, ACWA Signs 6 GWh BESS, Masdar Starts 35 MW BESS, Saudi Signs 2 GW BESS DealsACME Solar Commissions 15 MW/240.752 MWh BESS Project In RajasthanSMBC Reaches Financial Close on JSW Energy’s 210 MW Hybrid Renewable Energy Project in MaharashtraSECI Invites Cybersecurity Auditors To Strengthen Renewable Energy Sector SecurityThe Lifeline of Solar: Why the Right Cable Matters  Ukraine Drones Spark Fire at Russian Refinery as Fuel Crisis WorsensIndia Surpasses 300 GW of Non-Fossil Power CapacityPakistan’s Five Refineries Set for $6 Billion Upgrade PushAmazon Nears 1 GW of Wind Power in Sweden With Four New DealsQatar Extends Force Majeure as Hormuz Crisis Still Blocks LNG TrafficIndia and Indonesia look to strengthen semiconductor tiesWoodside receives final Pluto LNG train 1 moduleWoodside receives final Pluto LNG train 1 moduleInterlune recreates lunar helium in simulant for Earth-based extraction testingTrump Sends Saudi Nuclear Deal to Congress as Riyadh Rejects Israel ConditionU.S. In Talks To Take Direct Ownership Of Venezuelan Oil FieldsOil Prices Head for a Weekly Loss Despite Escalating Iran TensionsHormuz Tanker Traffic Drops Despite Recovery in Oil FlowsChina’s Solar Boom Hits a Wall as Industry Losses MountGulf Oil Exports Rebound Despite Iran WarTexas Oil Co Starts 92 Well New Mexico Drilling ProgramOMV Petrom receives additional 35MW of electrolysers at clean fuel facilityBangladesh LNG expansion could increase annual imports by $8.5bn, IEEFA warnsBangladesh LNG expansion could drive $8.5bn annual import bill, IEEFA warnsWaaree Renewable Technologies Secures LOA for 291 MWp Solar PV and 280 MWh BESS ProjectLatin America’s Energy Storage Capacity Set to Reach 34 GW by 2035: Wood MackenzieMeritus strengthens Southern California teamJan De Nul enters North Sea CCS marketSøby Solar Park to Supply Renewable Power to Four Companies Under Fixed-Price PPAsIEEFA Finds Renewables Cheaper Than Coal in Indonesia, Urges Least-Cost Power Planning and 100 GW Solar IntegrationSiemens Energy to spin off Transformation of Industry with view to saleSuzlon Breaks Ground on 1,325 MW Wind Projects in Andhra Pradesh, Targets INR 10,500 Crore InvestmentEnergean in Exclusive Talks for $1 Billion BP Egypt Gas DealTrump Complained About Big Oil Profits, But Dumped Exxon Stock on Ceasefire Day45 Power Plants in India Running on Critically Low Levels of Coal StocksAfrica Emerges as Center of Upstream Acreage RushOuter dome hoisted at Xudabao unit 1
Wed. Sep 2nd, 2026
Trending News: Bessent Says Strait of Hormuz Obsolete Within Two YearsU.S. Shale Producers Lose Bid to Kill Oil Price-Fixing CaseU.S. Crude Inventories Drop amid Continued SPR DrawsU.S. Energy Secretary Says Venezuela Could More Than Double Oil ProductionHormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil MarketsRussia Doubles Dark Fleet to Ship LNG to AsiaU.S. Energy Storage Capacity Installations Hit Record High in Q2Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags OnU.S. Oil Deal Pushes China and Russia Out of Venezuelan FieldsEurope’s Wind Power Buildout Jumps 30% in First HalfPrice, Not Politics, Is Driving Most of India’s Oil BuyingUkrainian Drone Barrage Sets Key Russian Oil Port AblazeSolar Overtakes Coal as China’s Largest Power SourceTwo Supertankers Hit by Unknown Projectiles in Strait of HormuzWhat Is the Oil, Gas Impact of Storm Edouard?India Daily: PM Surya Ghar Subsidy, POWERGRID Acquires Fatehgarh II, BPCL Tenders 1 MW Solar, VPA Advances 10 MW Solar, CEA Backs Flexible ThermalIndian Green Energy Stocks Show Mixed Trend As Adani Green Leads Gains (01 September 2026)Hijau Raises $10 Million to Scale Distributed Solar Projects Across IndonesiaPhilippines DA, DOE Plan 3 Million-Hectare Farmland Shield Against Solar ExpansionMinistry Of Energy Targets 5,200 Schools For Solar Power Installations In Saudi ArabiaCoal Got an Order. Nuclear Got a MeetingCondenser Chemistry Management: From Grab Samples to Predictive Digital TwinsSLB Makes $3.4 Billion Bet on AI Data Center BoomBP Adds 80 MMcf/d to Egypt’s Gas Supply Two Years Ahead of ScheduleChevron, ONGC and GE Vernova Near Final Venezuela Energy DealsOil Prices Climb as Trump Threatens New Strikes on IranBlue Star Helium extends Pinon Canyon offtake deal to 2027Ireland connects second biomethane plant and eyes export potentialgasworld US – September 2026 – Equipment, digitization and distributors issuegasworld Global – September 2026 – LNG & LogisticsH2 View – September 2026: ElectrolysersABO maps development for 600MW Finnish green hydrogen plantChevron nears deal to operate two giant oil fields in Venezuela’s Orinoco BeltFuel loading under way for Palisades restart, Holtec announcesIAEA concern over diesel supply for Zaporizhzhia generatorsTennessee issues licence for fusion plantProposal for Canadian marine-based SMR plantAsia Steps In to Fill Diesel Supply Gap in Africa as Middle East Exports CrashIran Dismisses Trump Claim of Kharg Attack as Hostilities ReturnChina Coking Coal Prices Set for Record 46% Monthly SurgeEurope Gas Prices Jump 5% to Highest Level Since 2023Trump Says Venezuelan Oil Will Refill U.S. Strategic Petroleum ReserveGoldman Sachs Sees Diesel Refining Margins Soaring to $63 a BarrelAsian Refiners Turn to Argentina as Iran War Disrupts Oil SupplyLithium Miners Cash In as Battery Storage Demand SurgesIran Says Supertanker Hit by Mines in Strait of HormuzChina’s LNG Imports Set to Drop 18% in August as Prices SoarTrump Announces ‘Biggest Oil Deal in World History’Philippine National Bank Backs PHP 6.22 Billion Solar And Battery Storage Project In IloiloSEPCOIII Begins Full Commercial Operation Of Saudi Red Sea Utility ProjectIndia Daily: MPERC Drafts MYT Rules, APSERC Reviews 2.75 MW Solar, HERC Clears Green Banking, TGERC Closes Dues Case, UPERC Completes ₹32.74 Cr Refund & More…Iraq Plans 10 GW Solar Expansion To Tackle Power ShortagesGreen Energy Stocks Under Pressure As Indian Markets End Lower On August 31KPI Green Energy Advances 2.57 GWp IPP Portfolio, 1.16 GWp EnergizedTata Power Renewable Energy Commissions 100 MW Group Captive Solar Project In Tamil NaduAustralia Accelerates Next-Generation Solar R&D with $105.6 Million Technology PushGlobal Specialty Gas Supply Chain Outlook – H1 2026UPERC Approves 300 MW Solar PPA At INR 2.57/kWh For 25 Years In Uttar PradeshAHAsolar Technologies Secures Consultancy Work Order for 600 MW Solar Project with 1,800 MWh Energy Storage in RajasthanGas Prices in Asia and Europe Jump as Qatar Extends LNG Force MajeureThe Iran War Has Turned VLCCs Into $650,000-a-Day AssetsVenezuela Helped Build OPEC. Now It May Help Break It ApartTrump says Venezuelan oil will be used to refill U.S. Strategic Petroleum ReserveMiddle East Weekly: Oman Plans Musandam RE Study, Kuwait Fund Backs 11 MW Solar, L&T Wins 6 GWh BESS Order, ACWA–KOWEPO Partner on RE, NHC–EDF Partner on Clean Energy, ACWA Signs 6 GWh BESS, Masdar Starts 35 MW BESS, Saudi Signs 2 GW BESS DealsACME Solar Commissions 15 MW/240.752 MWh BESS Project In RajasthanSMBC Reaches Financial Close on JSW Energy’s 210 MW Hybrid Renewable Energy Project in MaharashtraSECI Invites Cybersecurity Auditors To Strengthen Renewable Energy Sector SecurityThe Lifeline of Solar: Why the Right Cable Matters  Ukraine Drones Spark Fire at Russian Refinery as Fuel Crisis WorsensIndia Surpasses 300 GW of Non-Fossil Power CapacityPakistan’s Five Refineries Set for $6 Billion Upgrade PushAmazon Nears 1 GW of Wind Power in Sweden With Four New DealsQatar Extends Force Majeure as Hormuz Crisis Still Blocks LNG TrafficIndia and Indonesia look to strengthen semiconductor tiesWoodside receives final Pluto LNG train 1 moduleWoodside receives final Pluto LNG train 1 moduleInterlune recreates lunar helium in simulant for Earth-based extraction testingTrump Sends Saudi Nuclear Deal to Congress as Riyadh Rejects Israel ConditionU.S. In Talks To Take Direct Ownership Of Venezuelan Oil FieldsOil Prices Head for a Weekly Loss Despite Escalating Iran TensionsHormuz Tanker Traffic Drops Despite Recovery in Oil FlowsChina’s Solar Boom Hits a Wall as Industry Losses MountGulf Oil Exports Rebound Despite Iran WarTexas Oil Co Starts 92 Well New Mexico Drilling ProgramOMV Petrom receives additional 35MW of electrolysers at clean fuel facilityBangladesh LNG expansion could increase annual imports by $8.5bn, IEEFA warnsBangladesh LNG expansion could drive $8.5bn annual import bill, IEEFA warnsWaaree Renewable Technologies Secures LOA for 291 MWp Solar PV and 280 MWh BESS ProjectLatin America’s Energy Storage Capacity Set to Reach 34 GW by 2035: Wood MackenzieMeritus strengthens Southern California teamJan De Nul enters North Sea CCS marketSøby Solar Park to Supply Renewable Power to Four Companies Under Fixed-Price PPAsIEEFA Finds Renewables Cheaper Than Coal in Indonesia, Urges Least-Cost Power Planning and 100 GW Solar IntegrationSiemens Energy to spin off Transformation of Industry with view to saleSuzlon Breaks Ground on 1,325 MW Wind Projects in Andhra Pradesh, Targets INR 10,500 Crore InvestmentEnergean in Exclusive Talks for $1 Billion BP Egypt Gas DealTrump Complained About Big Oil Profits, But Dumped Exxon Stock on Ceasefire Day45 Power Plants in India Running on Critically Low Levels of Coal StocksAfrica Emerges as Center of Upstream Acreage RushOuter dome hoisted at Xudabao unit 1
Wed. Sep 2nd, 2026

US Draws Down Record Volumes of Crude Oil From Stocks, EIA Says

oil storage tanks in crockett, california 1200x810

(Reuters) – The United States withdrew 17.8 million barrels of crude oil from its inventories, the highest on record, the Energy Information Administration said on Wednesday, as the Iran war has cut global supplies and raised demand for U.S. crude and products.

The country’s stock of oil fell to 819.2 million barrels as of May 15, the lowest in 11 months, data showed.

Get the Latest US Focused Energy News Delivered to You! It’s FREE:

Commercial stocks drew down by about 7.86 million barrels, while the country’s strategic stockpile eased by a record 9.9 million barrels.

Refining runs and exports of U.S. crude remained high. Exports of crude stood at around 5.6 million barrels per day, the second-highest on record, as lower Middle East supplies to Asia and Europe have pushed refiners in the regions to snap up U.S. barrels.

While refinery crude runs fell by 80,000 bpd in the week, utilization rates stayed high at 91.6% as demand for gasoline and jet fuel remained high.

Reporting by Arathy Somasekhar in Houston, Siddharth Cavale and Shariq Khan in New York Editing by Matthew Lewis

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