The Future of Oil Demand Is Increasingly Clear as Trends Solidify – OilPrice.com
In June, the International Energy Agency (IEA) forecast Oil demand growth is expected to peak within six years. Later that month, the Energy Institute said demand was still growing and only slightly declining. While the two reports paint quite different pictures, they offer a glimpse into the real future of oil demand and supply, especially […]
Oil Trading Giants Are Buying Big Oil's Refineries – OilPrice.com
The oil trading giant, which has amassed huge profits over the past two years, is rushing to buy refineries that are being sold by the largest international oil and gas producers as part of a strategic portfolio restructuring. “Traders see an opportunity to finally get a plant that can process a range of crudes,” said […]
Oil Jumps on Significant Crude Inventory Draw – OilPrice.com
U.S. crude oil inventories fell by 9.163 million barrels in the week to June 28, according to the American Petroleum Institute. Analysts had been expecting a fall of 150,000 barrels. API reported that crude oil inventories increased by 914,000 barrels last week. On Tuesday, the U.S. Department of Energy (DoE) announced that crude oil inventories […]
Trans Mountain Oil Pipeline Off to a Solid Start | OilPrice.com – OilPrice.com
The Trans Mountain Pipeline transported 20 tanker loads of crude oil from Canada’s Pacific coast during the expanded link’s first month of operation, slightly below the company’s expectations, Reuters reported. report The announcement was made on Monday, citing data from tanker tracking providers LSEG, Vortexa and Kpler. The Trans Mountain Pipeline expansion increased the capacity […]
Democrat probes 18 oil companies after FTC collusion accusations
Sen. Sheldon Whitehouse of Iowa is investigating 18 oil and gas companies after the Federal Trade Commission accused the former CEO of Pioneer Natural Resources last month of conspiring with foreign oil producers. Whitehouse, who chairs the Senate Budget Committee, asked the companies to turn over copies of any communications they had with foreign oil […]
Biden Admin Slow Rolls Oil Sanctions Against Russia, Iran In Bid To Keep Gas Prices Down Ahead Of Election
The Wall Street Journal reported that the Biden administration is hesitant to fully implement oil sanctions against Iran and Russia as it seeks to stabilize gasoline prices ahead of the U.S. presidential election in November. The administration regularly denounces Russian and Iranian malign actions against U.S. allies and has imposed several rounds of sanctions on […]
Barclays: It's Unrealistic for Banks to Ditch Oil and Gas Clients | OilPrice.com – OilPrice.com
The chief executive of banking giant Barclays says it is unrealistic for activists and investors to call for banks to stop lending to the oil and gas industry. Barclays Chief Executive CS Venkatakrishnan said banks “cannot completely stop” lending to the oil and gas sector. Bloomberg At the Bloomberg Sustainable Finance Forum in London on […]
CREW files bribery complaint against Trump over oil industry donations
The watchdog group Citizens for Responsibility and Ethics in Washington (CREW) has filed a bribery lawsuit calling on the Department of Justice to investigate former President Trump’s solicitation of campaign contributions from fossil fuel executives. The former president met with oil industry executives in April and asked for $1 billion in campaign contributions, The Hill […]
Is drinking castor oil for weight loss dangerous? Experts weigh in on risks
Castor oil has become popular on social media for a variety of uses, from hair growth to weight loss. There are millions of posts about the oil on TikTok, with many creators sharing how they use it to improve their health. More controversially, some creators apply castor oil directly to their belly buttons, and now […]
As GOP calls Biden’s oil reserve depletions election-year politics, figures show he’s sold off the most
Please subscribe to Fox News to access this content Plus, with your account you get exclusive access to handpicked articles and other premium content for free. By entering your email address and pressing “Continue”, you agree to Fox News’ Terms of Use and Privacy Policy, including the Financial Incentive Notice. Please enter a valid email […]