Oil prices dropped Thursday after the International Energy Agency cut its demand growth outlook, a revision that landed in a market already uneasy about how quickly supply is said to be rising. Brent crude traded near $67 a barrel in the afternoon, down roughly 3% on the session. U.S. WTI slipped into the $62s. Selling accelerated after the IEA trimmed its 2026 global demand growth forecast to 850,000 barrels per day. A month ago, it was expecting 930,000. The number itself is not as dramatic as the context. The agency still sees global supply…

President Donald Trump on Thursday rejected any suggestion that a private U.S. oil executive is shaping Washington’s approach to Venezuela, stepping into a sensitive debate over who gets influence in the future of the world’s largest stranded crude reserves. In a post on Truth Social, Trump said Florida fuel trader Harry Sargeant III has no authority to act on behalf of the United States and that only State Department-approved officials conduct diplomacy with Caracas. He described current relations with Venezuela as strong and credited…

Cubans are struggling with blackouts and fuel rationing amid President Trump’s campaign to provoke regime change by choking off the energy supply of the island nation, which is heavily dependent on fuel imports. Trump last month threatened to impose tariffs on any country that sends oil to Cuba, labelling the island “an unusual and extraordinary threat” to U.S. national security. He noted the Cuban government’s relations with Russia, China, and Iran as evidence of that threat, which, Trump suggested, would present as “migration…

The United States and China are seeking to preserve their fragile trade truce before President Donald Trump visits Chinese President Xi Jinping for a high-stakes summit in Beijing this spring, according to the South China Morning Post. On the sidelines of the 2025 APEC summit in Busan, South Korea, Trump and Xi held a pivotal meeting that produced a significant—though temporary—trade agreement. Following months of escalating tariffs, curbs on rare-earth exports, and agricultural boycotts, the two leaders agreed to a one-year truce that…

The sanctions squeeze on oil supply from Russia and Iran are tightening the oil market and supporting crude prices as buyers look for additional legit barrels while sanctioned supply is piling in floating storage, according to the world’s biggest independent oil trader, Vitol.   “The traditional buyers of those two supply sources are reaching for more Western or Saudi supply sources, which is then in turn tightening the real market,” Vitol’s CEO Russell Hardy said at the International Energy Week conference in London…

Crude oil production from the OPEC+ alliance slumped by as much as 439,000 barrels per day in January compared to December as a major supply disruption in Kazakhstan added to lower output from Iran and Venezuela, OPEC data showed in its Monthly Oil Market Report (MOMR).  Total OPEC+ crude oil production averaged 42.45 million barrels per day (bpd) in January 2026, down by 439,000 bpd versus December, as Kazakhstan’s output plummeted by 249,000 bpd, according to the OPEC estimates based on secondary sources.   Kazakhstan’s…

Japan’s Inpex expects an LNG supply shortfall in the Pacific coastal region, including Asia, in 2035, as demand will nearly double from current levels, the oil and gas major said in its 2025 earnings report on Thursday.  Global LNG demand is expected to increase to about 700 million tons per year in 2035, up from the current level of around 400 million tons annually, according to the Japanese company, which operates the Ichthys LNG project offshore Western Australia.   “Demand will be concentrated in the Asia–Oceania…

NATO officially launched its Arctic Sentry mission on February 11 in a bid to improve the military posture of the alliance in the Arctic region. The move follows recent tensions between NATO allies Denmark and the United States over the political future of Greenland. When it was first mooted last month, several diplomats told RFE/RL that a potential Arctic mission could be a way out of a growing crisis. Following a meeting between US President Donald Trump and NATO Secretary-General Mark Rutte last month in Davos, Switzerland, it was agreed that…

With major U.S. indexes hovering near record highs, many investors are increasingly turning to high-income dividend stocks to balance growth and income. This strategic shift aims to secure reliable, consistent income to act as a defensive stabilizer against potential market volatility. However, rather than simply hunting for the highest yields, a preferred 2026 strategy for long-term investors is focusing on dividend growth and companies with a track record of not only maintaining but also increasing their payouts.  Studies have shown that…

U.S. shale oil and gas producers are buying international assets to maintain supply amid revisions of oil demand outlooks for the long term. From South America to the Middle East, frackers are going global. Continental Resources is one example. The company of fracking icon Harold Hamm has been expanding in Argentina’s Vaca Muerta shale play, widely considered the second-largest shale oil and gas deposit after the Permian. In the last three months, Continental made two asset acquisition deals in the Vaca Muerta, with its chief executive, Doug…

Syria’s attempt to rebuild its oil and gas sector entered a new phase in January 2026, when forces of the al-Sharaa government pushed into territories long controlled by the Kurdish-led Syrian Democratic Forces (SDF) and forced a new ceasefire. Under the agreement reached on January 18, Damascus assumed administrative and security control over all major oil and gas assets previously held by the SDF in the northeast of the country. For the first time since 2011, the Damascus government regained effective authority over most of the country’s…

The global clean energy transition hinges on the continued advancement and integration of energy storage, and especially utility-scale and long-term models. As the world adds renewable energy capacity at a breakneck pace, keeping up with supportive infrastructure additions is integral to maintaining energy security. While solar panels and wind turbines get all the attention, power lines and battery packs are just as critical, if far less glamorous.  In fact, energy storage is quickly heating up to be “clean energy’s next trillion-dollar…

Tesla’s energy business could become $20 billion to $50 billion more valuable if Elon Musk’s plan to build 100 gigawatts of yearly solar cell manufacturing capacity in the United States pans out, analysts at Morgan Stanley say. “The solar opportunity is underestimated,” Musk told analysts on Tesla’s Q4 earnings call last month. “We think the best way to add significant capability to the grid is solar and batteries on Earth and solar in space,” he added. As Musk sees opportunities in the solar manufacturing…

Last year saw a record number of deals in the Canadian oil patch, with sectoral consolidation reaching an eight-year high. But a new report from Calgary-based Sayer Energy Advisors anticipates mergers and acquisitions in Canada’s upstream oil and gas will moderate over the next 12 months. The report’s findings go against the expectations of industry analysts and executives of more US buyers searching for acquisition targets, along with more favorable government policies towards the sector spurring more action in 2026. According to the…

Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of the 450-MMcf/D-capacity gas plant. This marks the first export of liquids from the massive field, which is primarily designed to produce natural gas. Initial cargoes were sold to Asian buyers for delivery in late February or early March 2026. Aramco will initially sell 4 to 6 cargoes per month, with each cargo consisting of approximately 500,000 barrels. Condensate is a high-value,…

Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of the 450-MMcf/D-capacity gas plant. This marks the first export of liquids from the massive field, which is primarily designed to produce natural gas. Initial cargoes were sold to Asian buyers for delivery in late February or early March 2026. Aramco will initially sell 4 to 6 cargoes per month, with each cargo consisting of approximately 500,000 barrels. Condensate is a high-value,…

Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of the 450-MMcf/D-capacity gas plant. This marks the first export of liquids from the massive field, which is primarily designed to produce natural gas. Initial cargoes were sold to Asian buyers for delivery in late February or early March 2026. Aramco will initially sell 4 to 6 cargoes per month, with each cargo consisting of approximately 500,000 barrels. Condensate is a high-value,…

The global electric power business is changing. The economic hegemony of fossil fuels (and perhaps nuclear as well) is gradually being undermined by the adoption of renewable generating technologies such as solar and wind.  This economic and technological transition resembles warfare or a sporting event with distinct winners and losers. Our argument is based on a stunningly non-controversial premise—namely, that superior, lower-cost technologies producing an identical commodity eventually achieve dominance. Let’s look at a previous…

Libya's state-owned National Oil Corporation (NOC) has announced U.S. Oil & Gas major Chevron (NYSE:CVX) among the winners of its first oil and gas licensing round in nearly two decades, signaling a major push to revive the country's hydrocarbon sector. The bidding round also awarded exploration and production rights to several foreign companies, including Italy’s Eni S.p.A. (NYSE:E), Spain’s Repsol S.A. (OTCQX:REPYY), QatarEnergy and Nigeria’s Aiteo. Chevron secured an onshore Sirte S4 (also referred to as Contract Area 106)…

Libya's state-owned National Oil Corporation (NOC) has announced U.S. Oil & Gas major Chevron (NYSE:CVX) among the winners of its first oil and gas licensing round in nearly two decades, signaling a major push to revive the country's hydrocarbon sector. The bidding round also awarded exploration and production rights to several foreign companies, including Italy’s Eni S.p.A. (NYSE:E), Spain’s Repsol S.A. (OTCQX:REPYY), QatarEnergy and Nigeria’s Aiteo. Chevron secured an onshore Sirte S4 (also referred to as Contract Area 106)…