BP Chair to step down amid Elliott campaign for changes
(Oil Price) – BP chair Helge Lund has informed the board that he would be stepping down from the role “most likely during 2026,” as activist investor Elliott continues to demand more changes at the
BP Chair to step down amid Elliott campaign for changes
(Oil Price) – BP chair Helge Lund has informed the board that he would be stepping down from the role “most likely during 2026,” as activist investor Elliott continues to demand more changes at the UK-based supermajor. BP’s board of directors
Goldman cuts oil price forecasts amid tariff fears, higher OPEC+ supply
(BOE Report) – Goldman Sachs lowered its forecast for Brent crude’s average
Exxon sees higher prices and refining boosting Q1 profit by up to $2 billion
(Oil Price) – ExxonMobil expects its first-quarter earnings to be higher than in
Oil prices to stay depressed throughout 20256, JPMorgan predicts
(Investing) – Oil prices have plummeted to their lowest levels in more than
Goldman cuts oil price forecasts amid tariff fears, higher OPEC+ supply
(BOE Report) – Goldman Sachs lowered its forecast for Brent crude’s average price this year by 5.5% to $69 a barrel and for WTI prices by 4.3% to $66, citing the risks of higher OPEC+ supply and the global trade
Exxon sees higher prices and refining boosting Q1 profit by up to $2 billion
(Oil Price) – ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900
Oil prices to stay depressed throughout 20256, JPMorgan predicts
(Investing) – Oil prices have plummeted to their lowest levels in more than three years, as China retaliates against President Trump’s tariffs, intensifying the ongoing trade war and unsettling global markets. Brent Oil Futures dropped 7.6% to $64.86 a barrel at 14:05
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Weekly Inventories
U.S. crude oil inventories increase by 6.2 million barrels
Weekly Crude Oil Storage as of March 28, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.2 million barrels from the previous week. At 439.8 million barrels, U.S. crude oil inventories are 4%
Weekly Gas Storage: Inventories increase by 29 Bcf
Natural Gas Inventories as of March 28, 2025 The EIA has released its natural gas inventory report, showing a net increase of 29 Bcf as of March 28, 2025. Working gas in storage was 1,773 Bcf as of Friday, March
U.S. rig count decreased by 1 is at 592
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 1 over last week, resulting in a total count of 592 rigs. Canada had a decrease of 17 over last week, resulting in a total Canadian count of
