Crude Ends Higher Despite Glut Fears
Despite a bearish outlook, geopolitical risks from Russia to Venezuela helped lift WTI and Brent into positive territory.
EIA Cuts USA Energy Demand Forecast, Still Sees Rise in 2026
In its latest short term energy outlook, the EIA lowered its U.S. total energy consumption forecast for 2025 and 2026 but still projected an increase in demand from this year to next year.
Harbour Energy to Cut 100 UK Jobs
Harbour Energy Plc, one of the largest independent oil and gas firms in the UK, expects to cut another 100 jobs.
North America Drops 17 Rigs Week on Week
North America dropped 17 rigs week on week, according to Baker Hughes' latest North America rotary rig count.
OPEC+ Reaffirms Decision to Pause Production Hikes
Eight OPEC+ countries met virtually on November 30 'to review global market conditions and outlook', a statement posted on OPEC's site highlighted.
Uniper, thyssenkrupp Uhde Partner for Six Ammonia Plants
The German multinationals signed a 'framework agreement' for the construction of six commercial ammonia plants toward the establishment of a scalable hydrogen import terminal in Wilhelmshaven.
CPC Halts Black Sea Oil Loading amid Ukrainian Attacks
The Caspian Pipeline Consortium, which handles most of Kazakhstan's crude exports through Russia to the Black Sea, halted loading after one of its three moorings was damaged amid overnight Ukrainian attacks in the region.
ADNOC Bags 20-Year Gas Supply Contract from Emsteel
ADNOC Gas signed a long-term deal worth $3.5-4.2 billion to supply natural gas to Emsteel.
TotalEnergies Completes Bonga Exit
TotalEnergies completed the sale of its 12.5 percent stake in Oil Mining Lease 118, which contains the producing Bonga field, to partners Shell and Eni for $510 million.
BP, Eni Start Up Angola Gas Treatment Plant
The plant processes output from the Quiluma and Maboqueiro shallow-water fields and sends the treated gas to the Angola LNG plant for export.
Ukraine Says It Hit Saratov Refinery
Ukrainian forces say they have once again attacked Rosneft PJSC's Saratov oil refinery in Russia's Volga region.
Carney Loses Quebec Minister After Energy Deal
Prime Minister Mark Carney lost a cabinet minister over his oil pipeline agreement with Alberta.
Oil Notches Fourth Monthly Drop
Oil posted a fourth monthly loss.
Ukraine Claims Hit on Russian 'Shadow Fleet' Tankers
Ukraine's security service claimed strikes on two ocean-going tankers sanctioned for carrying Russian oil.
Two Oil Tankers Suffer Mystery Blasts While in Black Sea
Two ocean-going tankers that are heavily sanctioned for carrying Russian oil suffered near-simultaneous blasts off Turkey's Black Sea coast.
Sanctioned Tanker at Risk of Sinking After Blast
An oil tanker from Russia's shadow fleet reportedly hit a mine and was at risk of sinking north of Turkey's coastline, a local port agent said.
Petrobras Slumps After Unveiling $109B Spending Plan
Brazilian oil major Petrobras announced a two percent decrease in its next five-year investment plan to $109 billion.
Pions Takes 'Big Step on Path Toward AEI'
Pions, previously named eDrilling, announced that it was 'taking another big step on the path toward Artificial Engineering Intelligence (AEI)'.
EIA Ups USA Oil Output Forecast, Still Sees Dip in 2026
In its latest short term energy outlook, the U.S. Energy Information Administration increased its U.S. crude oil production forecast for 2025 and 2026.
USA Crude Oil Inventories Rise Almost 3MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 426.9 million barrels on November 21, the EIA's latest weekly petroleum status report showed.
