(World Oil) – U.S. crude oil production is expected to remain near its 2025 record through next year before declining in 2027, as lower oil prices curb drilling activity in the Lower 48, according to the U.S. Energy Information Administration’s January 2026 Short-Term Energy Outlook. The EIA forecasts U.S. crude oil production will average about 13.6 MMbpd in 2026—essentially flat with
(Investing) – HOUSTON – Oil prices closed 0.5% higher on Wednesday on optimism around tighter supply after a temporary shutdown at two large fields in Kazakhstan and as low volume of Venezuelan oil exports highlighted slow progress in reversing output cuts in the South American country. Brent futures settled up 32 cents, or 0.5%, to $65.24 a barrel, while the U.S. West Texas
Weekly Crude Oil Storage as of January 16, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.6 million barrels from the previous week. At 426.0 million barrels, U.S. crude oil inventories are 2% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
(BOE Report) – Canadian oil producer Cenovus Energy is considering a sale of conventional oil and gas assets in the Deep Basin of Alberta as it looks to cut debt after the recent takeover of oil sands rival MEG Energy, two sources familiar with the matter told Reuters. Cenovus has reached out to potential buyers in recent weeks to gauge interest in the assets,
(World Oil) – Halliburton reported a sharp sequential improvement in fourth-quarter 2025 earnings, driven by higher international activity and improved operating margins, even as North American stimulation activity declined. The oilfield services provider posted net income of $589 million, or $0.70 per diluted share, on revenue of $5.7 billion. Adjusted operating margin rose to 15%, reflecting improved activity mix and year-end tool
(World Oil) – Blackstone Inc. is in the early stages of weighing a sale of Beacon Offshore Energy, a Gulf of Mexico driller it’s owned for about a decade that could fetch more than $5 billion, according to people familiar with the matter. The alternative asset manager is talking to investment banks about bringing the Houston-based company to market as soon
(BOE Report) – Spiralling trade tensions between the U.S. and Europe over President Donald Trump’s bid to buy Greenland have once again left the bloc highly vulnerable in a geopolitical tussle because of its heavy dependence on a single supplier for its critical energy needs. Less than four years ago, Europe’s economy was dealt a harsh blow in the wake
(Oil Price) – The world’s oil demand growth is set to rise by 930,000 barrels per day (bpd) in 2026, thanks to lower oil prices and a normalization of economies after the 2025 tariff chaos, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate by 70,000 bpd from last month. Oil demand is forecast to grow by
(Oil Price) – Saudi oil giant Aramco expects AI and other advanced technology to have helped it achieve in 2025 a technology realized value of between $3 billion and $5 billion, chief executive Amin Nasser said on Tuesday. The world’s biggest oil firm in both production and market capitalization had total realized technology value of $6 billion in the period 2023-2024, the executive
(BOE Report) – President Donald Trump has lavished the U.S. oil industry with favourable policies since returning to the White House, but his twin demands for cheap oil and “energy dominance” are increasingly colliding with companies’ bottom lines. Over the past year, the Republican president has rolled out numerous pro-fossil fuel measures and offered strong support for U.S. oil firms
(World Oil) – Tankers have begun discharging Venezuelan crude at Caribbean islands, publicly signaling their activity in a move that marks a new trade order after U.S. exerted control over Caracas’ oil industry. Two vessels delivered about 2.5 million barrels of Venezuela’s Merey crude to storage tanks on Saint Lucia and Curacao, staging posts for broader exports, over the weekend, according to
(Investing) – Oil prices could see further upside in 2026 as geopolitical risks continue to drive volatility, HSBC says, though the bank adds that underlying market fundamentals should limit rallies and keep prices anchored in the mid-$60s range. As such, HSBC maintained its Brent crude forecast at $65 a barrel for 2026 and beyond, despite heightened tensions across several major producing regions. The
