Oil news

Oil Inches Higher on Possible Supply Disruptions in Russia

Oil news - Tue, 09/16/2025 - 18:10
Russia’s oil producers may have to reduce output as intensified Ukrainian drone attacks have damaged critical export and port infrastructure. Beijing Tightens the Tap on Oil Products with Third 2025 Export Quota - Keeping the markets on their toes for longer than anticipated, the Chinese government has at last announced the remaining tranche of clean oil product exports quotas for 2025, to the disappointment of many.     - The third export quota batch was announced at 8.395 million tonnes, notably lower than the 9 million…
Categories: Oil news

Ukraine Drone Attacks Could Force Russia to Cut Oil Production

Oil news - Tue, 09/16/2025 - 17:45
Russia’s oil producers may have to reduce output as intensified Ukrainian drone attacks have damaged critical export and port infrastructure. State pipeline firm Transneft, which handles more than 80% of all the crude oil pumped in Russia, has warned producers that it may have to accept lower volumes on its system, industry sources close to Russian oil producers told Reuters on Tuesday.   Transneft has already restricted in recent days the storage options on the system for the producers, according to the sources. The reason is the intense…
Categories: Oil news

Ukraine Drone Attacks Could Force Russia to Cut Oil Production

Oil news - Tue, 09/16/2025 - 17:45
Russia’s oil producers may have to reduce output as intensified Ukrainian drone attacks have damaged critical export and port infrastructure. State pipeline firm Transneft, which handles more than 80% of all the crude oil pumped in Russia, has warned producers that it may have to accept lower volumes on its system, industry sources close to Russian oil producers told Reuters on Tuesday.   Transneft has already restricted in recent days the storage options on the system for the producers, according to the sources. The reason is the intense…
Categories: Oil news

Ukraine Drone Attacks Could Force Russia to Cut Oil Production

Oil news - Tue, 09/16/2025 - 17:45
Russia’s oil producers may have to reduce output as intensified Ukrainian drone attacks have damaged critical export and port infrastructure. State pipeline firm Transneft, which handles more than 80% of all the crude oil pumped in Russia, has warned producers that it may have to accept lower volumes on its system, industry sources close to Russian oil producers told Reuters on Tuesday.   Transneft has already restricted in recent days the storage options on the system for the producers, according to the sources. The reason is the intense…
Categories: Oil news

EU Tackles Grid Bottlenecks to Slash Power Costs

Oil news - Tue, 09/16/2025 - 17:30
The European Commission will address critical grid bottlenecks in European electricity infrastructure in a bid to avoid spiking power and energy costs, European Commission President Ursula?von der Leyen said on Tuesday.  “Let us be clear – our energy prices remain still too high, too volatile, and too disparate across Europe. In some Member States, electricity costs three times more than in others. And many price spikes could be avoided, if energy could flow more freely to where it is needed,” von der Leyen said at a conference…
Categories: Oil news

Copper Declared “Critical” as U.S. Considers Supply Chain Risks

Oil news - Tue, 09/16/2025 - 17:00
The Copper Monthly Metals Index (MMI) remained sideways, with a 1.87% decline from July to August. Meanwhile, the price of copper saw some notable upticks from August to September, as well as some significant drops. The USGS Recommends Copper for Critical Minerals List Despite being mostly spared from tariffs in months past, the copper market has not lost the attention of the U.S. In its draft list, the U.S. Department of the Interior/U.S. Geological Survey recommended copper be added to the country’s catalog of critical minerals. The move…
Categories: Oil news

California Passes Bill to Boost Oil Production Amid Refinery Shutdowns

Oil news - Tue, 09/16/2025 - 04:32
California lawmakers this weekend passed Senate Bill 237, a sweeping measure designed to revive in-state crude production in response to declining refining capacity, rising import dependence, and widespread concern about gasoline prices. The new law allows up to 2,000 new oil well drilling permits per year in Kern County beginning January 2026, with the explicit objective of pushing California oil producers to supply close to 25% of the crude used by the state’s refineries. According to the California Energy Commission, the state produces…
Categories: Oil news

Kyiv’s Long-Range Arsenal Grows, But What Does It Mean for Russian Oil?

Oil news - Tue, 09/16/2025 - 03:00
Ukrainian drones struck one of Russia’s largest oil refineries on Sunday, igniting another oil price rally. The drones hit Russia’s Kirishi refinery in northwestern Leningrad region, intensifying weeks of Ukrainian attacks on Russian energy infrastructure. Operated by Surgutneftegas, the giant refinery has a capacity to process 17.7 million metric tons of crude per year (355,000 barrels per day), making it one of Russia’s three largest refineries by output. Previously, U.S. President Donald Trump said he was ready to impose fresh…
Categories: Oil news

Russia starts Zapad and NATO braces for trouble

Oil news - Tue, 09/16/2025 - 02:00
Whether or not the incursion of at least 19 Russian drones into Poland on the night of 9 September was deliberate or not, NATO’s response will provide the Kremlin with a clear indication of whether it can continue to escalate military aggression against its security members without meaningful consequences to it. This is particularly useful information for Moscow to know, as the four-yearly ‘Zapad’ joint Russia-Belarus military exercises began on 12 September and are due to end on the 16th of this month. The last time the exercises…
Categories: Oil news

Cheap Russian LNG Keeps Flowing Despite EU Promises

Oil news - Tue, 09/16/2025 - 01:00
The European Union could phase out all Russian natural gas purchases within a year, U.S. Energy Secretary Chris Wright said earlier this month. In fact, he said, the EU could switch from Russian gas to U.S. LNG in as little as six months. Yet there is a problem with this, and it is a pretty serious one: prices. Some are calling the EU hypocritical; others are justifying it in its continued purchases of Russian energy. It is an awkward situation that is likely to become even more awkward. In 2024, the EU made headlines for something its leadership…
Categories: Oil news

The Rise of China and the Future of Clean Energy

Oil news - Tue, 09/16/2025 - 00:00
China has far outpaced the United States in clean energy spending, manufacturing, and innovation. And now, thanks to cheap and abundant Chinese solar panels and wind turbines, a growing number of emerging economies are joining the ranks of nations outpacing the United States in the clean energy transition.  “To China’s delight,” writes the Conversation, “the US has simply stopped competing to be the world’s clean energy powerhouse.” While the Trump administration has reversed policies incentivizing clean…
Categories: Oil news

Winter Gasoline Shift Pushes U.S. Pump Prices Lower Despite West Coast Spikes

Oil news - Mon, 09/15/2025 - 23:30
U.S. motorists are getting a reprieve at the pump just as the shift to cheaper winter gasoline begins, with GasBuddy data showing the national average price falling 3.6 cents over the last week to $3.12 per gallon. Diesel also eased 2.6 cents to $3.658. The slide comes as refineries ramp up supply and seasonal regulations loosen, setting the stage for further declines. “While gas prices fell in more states than they rose last week, the West Coast continues to face challenges, with Oregon and Washington seeing some of the largest increases…
Categories: Oil news

Winter Gasoline Shift Pushes U.S. Pump Prices Lower Despite West Coast Spikes

Oil news - Mon, 09/15/2025 - 23:30
U.S. motorists are getting a reprieve at the pump just as the shift to cheaper winter gasoline begins, with GasBuddy data showing the national average price falling 3.6 cents over the last week to $3.12 per gallon. Diesel also eased 2.6 cents to $3.658. The slide comes as refineries ramp up supply and seasonal regulations loosen, setting the stage for further declines. “While gas prices fell in more states than they rose last week, the West Coast continues to face challenges, with Oregon and Washington seeing some of the largest increases…
Categories: Oil news

Natural Gas Becomes Core to Middle East Energy Mix

Oil news - Mon, 09/15/2025 - 23:00
As global oil majors become more selective with their investments and prioritize shareholder returns, Middle East national oil companies (NOCs) continue to play a pivotal role in global energy security amid shifting market dynamics and the energy transition. Leveraging their low breakeven costs, strong domestic bases, and strategic ambitions, they are well-positioned to meet growing international demand for energy. With non-OPEC+ supply growth slowing and upstream investment hurdles mounting, these NOCs are expanding capacity and scaling international…
Categories: Oil news

Exxon Taps Retail Investors With Auto-Voting Tool to Fend Off Climate Activists

Oil news - Mon, 09/15/2025 - 22:30
ExxonMobil has moved to strengthen its hand against climate-focused investor campaigns by introducing an auto-voting system for its massive retail shareholder base, Reuters reported on Monday. The plan, approved under a “no-action” letter from the SEC, will allow individual investors to opt in and have their votes automatically aligned with management recommendations unless they explicitly choose otherwise. The company is targeting its so-called “mom-and-pop” shareholders, who collectively hold about 40% of Exxon’s…
Categories: Oil news

U.S. Automakers Navigate Rising Metal Costs and Supply Woes

Oil news - Mon, 09/15/2025 - 22:00
By Metal Miner The Automotive MMI (Monthly Metals Index) moved sideways, dropping a slight 2.3%. This comes as the US automotive market, manufacturers in particular, are facing a one-two punch of rising costs and potential shortages in their metal supply chains. A big reason for this is steep tariffs on steel, aluminum and other inputs, which are driving up raw material costs. How Are Tariffs Driving Up Costs for the US Automotive Market The US government has expanded its metal tariff (initially 25%) to a hefty 50% on a broad range of imports,…
Categories: Oil news

Ukraine to Cut Imports of Indian Diesel over Russian Oil Links 

Oil news - Mon, 09/15/2025 - 21:30
Ukraine is restricting imports of diesel from India due to India’s continued purchases of Russian crude, which holds about a third of total Indian oil imports. Effective October 1, Ukraine will restrict imports of Indian diesel and will check samples of the diesel in laboratories to detect the presence of components typical of Russia’s crude grades, according to Ukrainian energy consultancy Enkorr cited by Reuters. Indian diesel accounted for about 18% of all Ukrainian diesel imports in August, according to Enkorr.   Ukraine has…
Categories: Oil news

Ukraine to Cut Imports of Indian Diesel over Russian Oil Links 

Oil news - Mon, 09/15/2025 - 21:30
Ukraine is restricting imports of diesel from India due to India’s continued purchases of Russian crude, which holds about a third of total Indian oil imports. Effective October 1, Ukraine will restrict imports of Indian diesel and will check samples of the diesel in laboratories to detect the presence of components typical of Russia’s crude grades, according to Ukrainian energy consultancy Enkorr cited by Reuters. Indian diesel accounted for about 18% of all Ukrainian diesel imports in August, according to Enkorr.   Ukraine has…
Categories: Oil news

Canada Pushes LNG Canada Expansion to Fast-Track List

Oil news - Mon, 09/15/2025 - 21:00
Just two months after Canada became an LNG exporter with the launch of LNG Canada, the federal government is betting big on the export facility in British Columbia by including its expansion in the five major projects to diversify Canada’s energy exports and make it a conventional and clean energy powerhouse. Canada’s Prime Minister Mark Carney announced last week the first list of five major projects of national importance, with LNG Canada Phase 2 the first on the list. These projects will be referred to the newly created Major Projects…
Categories: Oil news

Ukraine Strike Shuts Kirishi Refinery, Hits Primorsk Tankers

Oil news - Mon, 09/15/2025 - 20:30
Ukraine’s latest drone strike has forced the shutdown of a major processing unit at the Kirishi refinery near St. Petersburg, in what industry sources describe as the most damaging attack yet on Russia’s northwest energy hub. Reuters reported today that operations at the 355,000-barrel-per-day facility, which handles roughly six percent of Russia’s refining capacity, have been curtailed after fires broke out over the weekend. The Kirishi outage comes on the heels of a separate Ukrainian strike on the Primorsk oil terminal, where…
Categories: Oil news

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