It has been a tough decade for Colombia’s economically vital oil industry. The late-2014 oil price crash and the COVID-19 pandemic did immeasurable damage to the Andean country’s oil patch. Significant regulatory changes and tax hikes for the oil industry imposed by President Petro after taking office in late 2022 are weighing on operations. This is not only deterring foreign energy investment but also causing Big Oil to bail on Colombia. After plundering oil profits since 2022, President Petro is seeking to place additional taxes on…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 1.25 million barrels in the week ending August 29. So far this year, crude oil inventories are up 8.7 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 500,000 barrels to 405.2 million barrels in the week ending September 5. At 10:05 am ET, Brent crude was trading up $0.92 (+1.39%) on the day,…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 1.25 million barrels in the week ending August 29. So far this year, crude oil inventories are up 8.7 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 500,000 barrels to 405.2 million barrels in the week ending September 5. At 10:05 am ET, Brent crude was trading up $0.92 (+1.39%) on the day,…

Rystad Energy’s latest analysis reveals a growing threat to global energy security as the world’s five most critical maritime chokepoints, narrow sea routes that handle the bulk of global oil and gas transit, face escalating risks from conflict, piracy and environmental hazards. In 2023, these chokepoints carried an estimated 71.3 million barrels per day (bpd) of oil and petroleum products and about 26 billion cubic feet per day (Bcfd) of liquefied natural gas. By 2024, that volume had dropped to 65 million bpd for oil and petroleum…

‘Drill, baby, drill’ was just another saying in the U.S. shale patch a few years ago. It was a time when the industry was boosting oil production by about 1 million barrels per day (bpd) each year. Then it became a campaign slogan. Now, it is the official U.S. energy policy of the Trump Administration. The U.S. oil and gas industry bet on another term in office for President Donald Trump, donating millions of U.S. dollars to his campaign and super PACs. Now the oil bosses have the friendliest possible administration, which has moved…

Last Sunday, OPEC+ agreed to add 137,000 bpd to its collective oil output. This was the seventh monthly output hike decision by the group, and it came amid warnings of a looming supply overhang. Yet oil prices rose on the news. While counterintuitive at first glance, the market’s reaction actually suggested that rumors about a glut may be premature. One reason why the output hike failed to pressure prices was its size. After several months of adding over 400,000 barrels daily, OPEC+ this time went for a much smaller increase, of the same…

Russia’s energy infrastructure has taken a hammering after a string of explosions knocked out three major oil and gas pipelines within a 24-hour period. Ukrainian military intelligence sources confirmed that the Kuibyshev-Lysychansk pipeline in Saratov Oblast—capable of moving 82 million tons of oil annually—was crippled in the early hours of September 8. The line had been supplying petroleum products directly to Russian military units. The Saratov strike followed blasts in Penza Oblast just hours earlier, where at least four…

The Public Investment Fund (PIF), Saudi Arabia’s $1-trillion sovereign wealth fund, will unveil by the end of the year its new long-term strategy on how it would support the Kingdom’s economy and diversified it from oil, and increase returns on investments, the fund’s governor has said.  “In the coming two months or so, we will set the new strategy for the PIF, which is a continuation from the original one, until 2030 and from 2030 all the way to 2040 and beyond,” Yasir Al Rumayyan‏, governor of PIF, told …

The Public Investment Fund (PIF), Saudi Arabia’s $1-trillion sovereign wealth fund, will unveil by the end of the year its new long-term strategy on how it would support the Kingdom’s economy and diversified it from oil, and increase returns on investments, the fund’s governor has said.  “In the coming two months or so, we will set the new strategy for the PIF, which is a continuation from the original one, until 2030 and from 2030 all the way to 2040 and beyond,” Yasir Al Rumayyan‏, governor of PIF, told …

The Public Investment Fund (PIF), Saudi Arabia’s $1-trillion sovereign wealth fund, will unveil by the end of the year its new long-term strategy on how it would support the Kingdom’s economy and diversified it from oil, and increase returns on investments, the fund’s governor has said.  “In the coming two months or so, we will set the new strategy for the PIF, which is a continuation from the original one, until 2030 and from 2030 all the way to 2040 and beyond,” Yasir Al Rumayyan‏, governor of PIF, told …

In the past decade, plastic pollution has become one of the most visible environmental issues worldwide. Every year, millions of tonnes of plastic enter the ocean, affecting marine life, coastal communities, and ecosystems. This visualization, via Visual Capitalist's Bruno Venditti, ranks the countries responsible for the highest cumulative leakage of mismanaged plastic waste that escaped and washed up on other countries’ beaches from 2010 to 2019. The data for this visualization comes from the Global Plastic Hub. Asia Leads in Ocean Plastic…

U.S. Senators from states hosting refineries will seek to prevent the Trump Administration from reallocating biofuel blending mandates from exempted small refiners to larger ones, Reuters reported on Tuesday, citing a bill led and co-sponsored by several Republican lawmakers. Senator Mike Lee of Utah is leading the so-called Protect Consumers from Reallocation Costs Act of 2025 bill, which the Senators plan to introduce on Tuesday amid a hotly contested issue between America’s Farm Belt and oil industry—both Republican darlings but…

U.S. Senators from states hosting refineries will seek to prevent the Trump Administration from reallocating biofuel blending mandates from exempted small refiners to larger ones, Reuters reported on Tuesday, citing a bill led and co-sponsored by several Republican lawmakers. Senator Mike Lee of Utah is leading the so-called Protect Consumers from Reallocation Costs Act of 2025 bill, which the Senators plan to introduce on Tuesday amid a hotly contested issue between America’s Farm Belt and oil industry—both Republican darlings but…

For a decade, the White House has failed to meaningfully engage with Latin America, a region traditionally under U.S. hegemony. This allowed global geopolitical rivals Russia, China and Iran to gain a foothold in the region as they seek to undermine Washington’s traditional dominance. In a shock move, after diplomacy and sanctions failed to initiate regime change, President Donald Trump resorted to gunboat diplomacy to pressure regional countries viewed as hostile to Washington. The primary target is Venezuela’s dictatorial regime led…

The Rare Earths MMI (Monthly Metals Index) moved sideways, but gained bullish momentum from the prior month, rising 2.15%. This comes as the rare earths market experienced numerous developments over the past 30 days, including discussions between Malaysia and China to develop new plans for rare earth processing. Notably, this would be limited strictly to Malaysian state-owned enterprises, potentially underscoring geopolitical cross-currents for U.S. sourcing. Neodymium-Praseodymium Magnet Metal Prices Spike After peaking in late August, NdPr oxide…

Oil prices climbed on Tuesday after Israel carried out a rare and brazen strike in Doha, Qatar, an escalation that rattled global energy markets. WTI crude rose 1.37% to $63.11, while Brent gained 1.32% to $66.89. Israel struck Hamas officials in Doha, according to reports — the first known Israeli attack to land on Qatari soil. The location alone raises the stakes: Qatar is home to a large U.S. base and keeps open political channels with Hamas. The strike has stirred talk of wider instability in the Gulf, a region critical to global energy…

Reports of a surprise Israeli strike on Hamas targets in Qatar jolted markets, lifting Brent briefly above $67/bbl as traders priced in a higher Middle East risk premium and potential supply-security disruptions. Gas Markets Brace For Generational Supply Glut- Following four years of tightness, global LNG supply is set for a prolonged period of oversupply as the United States, Qatar, Canada and even Russia all add hefty volumes of incremental supply from 2026 onwards.     - Simultaneously to the US ramping up Plaquemines and Corpus Christi…

Teck Resources Limited and Anglo American plc on Tuesday announced they had agreed to combine via a merger of equals to create a copper and other critical minerals giant with a market capitalization of over $53 billion.   Teck Resources and Anglo American will create the Anglo Teck group, which will be a global critical minerals champion and top five global copper producer, headquartered in Canada and expected to offer investors more than 70% exposure to copper, the companies said in a joint press release.   Anglo Teck will…

Russia over the weekend launched its largest aerial attack on Ukraine since the start of the full-scale invasion in 2022, while maintaining pressure on Kyiv's forces at the front line. The future of direct peace talks is uncertain, with hopes for a meeting between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy dissolving in discord between the two leaders. The discussion of security guarantees for Ukraine is clouded by questions about Washington's commitment and vocal opposition from the Kremlin to any Western forces…

Despite recent delays and cancelations of projects, the clean hydrogen industry has surpassed $110 billion in investment in more than 500 projects that have moved past the final investment decision, a new report by the Hydrogen Council showed on Tuesday.  Investments in clean hydrogen projects have increased by $35 billion since last year to top a total of $110 billion so far. The money is being poured into more than 500 projects worldwide that are past final investment decision (FID), in construction, or already operational, according to…