This weekend, OPEC+ agreed to add another 411,000 barrels daily to its combined output. The decision came amid expectations of a bigger hike that had weighed on energy stocks prior to the latest meeting of the group. But that wasn’t all. Following the OPEC+ decision, oil prices actually jumped. The oil market “just remembered that geopolitics exists.” That OPEC+ was going to raise its output for another month was already clear, so the hike was not really a surprise. It had the potential to hurt energy stocks because of a perceived…

It is highly unlikely that anyone with even a modicum of intelligence has lost money in the past ten years or so by trading against the predictable thinking of those in charge of Saudi Arabia’s oil policy. Quite the reverse, in fact, with enormous profits available from the failures of the enormously well-flagged and exceptionally predictable strategy of the 2014-2016 and 2020 Oil Price Wars -- launched by the Kingdom with the intention of destroying or disabling the U.S. shale oil sector, as analysed in full in my latest book on the new…

In a market increasingly governed by geopolitical tremors and macroeconomic mismatches, crude oil dipping below $65 per barrel seems like a gift to global consumers. But behind that price tag lies a slow-moving crisis for U.S. shale producers, many of whom are being forced to pull back on production, delay capital projects, and recalculate what sustainability means in a low-margin world. Even after a brilliant spike on Monday, Brent is still languishing around $65 per barrel, with WTI trailing slightly lower. But while American drivers are beginning…

In his 2003 State of the Union address, President George W. Bush offered a bold vision of a cleaner energy future. Standing before Congress and the nation, he announced a $1.2 billion initiative to develop hydrogen-powered vehicles, proclaiming that “the first car driven by a child born today could be powered by hydrogen and pollution-free.”  The appeal was clear: a shift away from imported oil and a meaningful reduction in vehicle emissions. After all, the combustion product of hydrogen is just water.  That child would be…

Iran has substantially increased its stockpile of uranium enriched to near weapons-grade levels in recent months, multiple media outlets cited a report from the International Atomic Energy Agency (IAEA) as saying, likely raising further doubts about a potential deal with the United States on Tehran's nuclear program. Israel reacted swiftly, with Prime Minister Benjamin Netanyahu's office saying the UN nuclear watchdog's confidential May 31 report showed that Iran is pursuing nuclear weapons. Tehran, meanwhile, rejected the report, calling it "politically…

The national average price of gasoline in the United States has declined by 3.8 cents over the past week, now standing at $3.09 per gallon, according to GasBuddy's latest report.  Patrick De Haan, head of petroleum analysis at GasBuddy, noted, "The national average has seen a modest decline, but with oil prices rising again, we could see the trend reverse in the coming weeks." Despite the recent dip, regional variations persist. States like Mississippi and Texas report some of the lowest averages at $2.64 and $2.70 per gallon, respectively,…

The national average price of gasoline in the United States has declined by 3.8 cents over the past week, now standing at $3.09 per gallon, according to GasBuddy's latest report.  Patrick De Haan, head of petroleum analysis at GasBuddy, noted, "The national average has seen a modest decline, but with oil prices rising again, we could see the trend reverse in the coming weeks." Despite the recent dip, regional variations persist. States like Mississippi and Texas report some of the lowest averages at $2.64 and $2.70 per gallon, respectively,…

Via Metal Miner The copper market outlook for the second half of 2025 has seen significant debate in recent weeks. On the supply side of the equation, new production is coming online. However, this may not happen fast enough to flood the market. According to mining.com, the ICSG projects global mined copper output will rise about 2.3% in 2025, topping 23.5 million metric tons as several major projects ramp up. Mines like Kamoa-Kakula in the DRC and Oyu Tolgoi in Mongolia are boosting output, and a wave of smaller projects from Africa to Asia are…

Canada’s Alberta province is facing one of its worst early-season wildfire crises in recent memory, with industry officials confirming on Monday that over 50% of the province’s oil production has been forced offline as flames sweep through critical infrastructure zones.  Seven key oil producers have scaled back or halted operations entirely. The fires have triggered evacuations in production hubs including Fort McMurray, echoing the catastrophic 2016 wildfires that paralyzed Canada’s energy heartland. The Alberta government…

The U.S. is off to a strong start to the driving season as the slump in oil prices in recent weeks has led to the lowest gasoline prices for Memorial Day weekend in four years.  Gasoline demand was strong over the holiday weekend, which ushers in the start of the period of peak demand in the United States and the rest of the northern hemisphere. A large part of the strong demand was due to the fact that the typical seasonal spike in the spring didn’t materialize, because oil prices – the single-biggest driver of gasoline prices—lingered…

Crude oil prices were trading up nearly 4% on Monday afternoon, with analysts attributing the spike to escalating geopolitical tensions, and the aftermath of a massive Ukrainian drone strike on four Russian military airports overnight.   Overnight, Ukrainian drone attacks targeted Russia's Kursk and Voronezh regions, igniting fires in residential buildings, causing significant disruptions to highway traffic and reportedly destroying over 40 aircraft in the process. Russian defense officials reported intercepting a total of 162 drones,…

Crude oil prices were trading up nearly 4% on Monday afternoon, with analysts attributing the spike to escalating geopolitical tensions, and the aftermath of a massive Ukrainian drone strike on four Russian military airports overnight.   Overnight, Ukrainian drone attacks targeted Russia's Kursk and Voronezh regions, igniting fires in residential buildings, causing significant disruptions to highway traffic and reportedly destroying over 40 aircraft in the process. Russian defense officials reported intercepting a total of 162 drones,…

President Trump announced Friday that steel and aluminum tariffs will double from 25% to 50%, calling the move a cornerstone of his "America First" agenda to revive U.S. manufacturing. The tariffs, set to take effect Wednesday, sparked a sharp rally in U.S. metal stocks in premarket trading as investors bet on stronger domestic production and profits. Trump visited a U.S. Steel plant near Pittsburgh at the end of last week to promote a pending partnership with Japan's Nippon Steel, describing the deal as a "planned investment" that would keep the…

Despite European politicians' efforts to reduce Russia's natural gas dominance in national markets, the reality is quite the opposite. The media often highlights the obstructive policies of Eastern European and Balkan countries like Slovakia and Hungary. However, the bigger picture reveals that Brussels and its bureaucrats face a significant challenge. According to Reuters, Gazprom’s natural gas pipeline supplies via Turkstream to Europe surged 10.3% in May 2025. This increase underscores the growing dependence on Turkstream as the sole option…

Delegations from Ukraine and Russia have begun to meet in Istanbul for a second round of direct peace talks amid low expectations of a breakthrough as air attacks by both sides continue in Europe's largest and deadliest conflict since World War II. Russian state media reported that the talks between negotiating teams began around 14:45 local time in Istanbul on June 2, a day after Ukraine wiped out dozens of long-range Russian bombers with hoards of drones launched remotely after being smuggled into Russia. Both delegations are expected to present…

During a meeting with oil and gas executives in Canada’s oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. “We met with leaders in clean and conventional energy today in Calgary. We all agree: it’s time to build,” Carney posted on X after the meeting. “Canada’s new government is ready to fast-track major projects across the country that will make Canada an energy superpower,”…

During a meeting with oil and gas executives in Canada’s oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. “We met with leaders in clean and conventional energy today in Calgary. We all agree: it’s time to build,” Carney posted on X after the meeting. “Canada’s new government is ready to fast-track major projects across the country that will make Canada an energy superpower,”…

During a meeting with oil and gas executives in Canada’s oil-producing province of Alberta, Canadian Prime Minister Mark Carney pledged that the federal government would work to fast-track major projects to make Canada an energy superpower. “We met with leaders in clean and conventional energy today in Calgary. We all agree: it’s time to build,” Carney posted on X after the meeting. “Canada’s new government is ready to fast-track major projects across the country that will make Canada an energy superpower,”…

Abu Dhabi’s national oil company, ADNOC, forecasts lower export volumes of its flagship Murban crude between August 2025 and May 2026, as it plans to process higher volumes of the grade domestically. ADNOC plans to export 1.705 million barrels per day (bpd) of Murban Crude in August, down by 65,000 bpd compared to the previous schedule, Reuters reports, citing an ADNOC report. The company pumping nearly all the crude in one of OPEC’s top producers, the United Arab Emirates (UAE), will also lower its Murban crude exports by between 100,000…

The Trump Administration is working to roll back the severe restrictions on oil and gas drilling in Alaska imposed by the Biden administration, Interior Secretary Doug Burgum has said. The Biden administration suspended in 2021 oil leases in the Arctic National Wildlife Refuge in Alaska, months after former President Joe Biden took over from Trump’s first term in office. Biden also finalized a strategy to help protect federal lands, which includes restricting access to drilling and mining in a large part of the National Petroleum Reserve…