In an escalation of war, Ukrainian drones targeted the massive Ryazan oil refinery, one of Russia’s most critical energy assets. The overnight attack set a 20,000-ton oil storage tank ablaze and damaged vital infrastructure, including a hydrotreater and railway loading rack. This refinery, which processes 262,000 barrels per day (bpd)—nearly 5% of Russia’s refining capacity—ground...Continue Reading

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, after a 4-rig drop in the week prior. The total rig count fell by four rigs, to 576, according to Baker Hughes, down 45 from this same...Continue Reading

India has received clarification from the U.S. that the Russian oil tankers sanctioned earlier this month are allowed to discharge their crude at Indian ports until February 27, Indian oil secretary Pankaj Jain said on Friday. “There was a round of clarification by OFAC (the U.S. Office of Foreign Assets Control). Formally they did clarify...Continue Reading

Saudi Oil Giant Aramco Buys Its First U.S. WTI Midland Crude Cargo | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jan 24, 2025, 10:30 AM CST The world’s biggest crude oil exporter, Saudi Aramco, bought this week its first cargo of U.S. WTI Midland, the...Continue Reading

Trump Pressures OPEC to Lower Oil Prices, Aims to End Ukraine War | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – Jan 24, 2025, 10:00 AM CST...Continue Reading

Refinery Throughput at Sinopec Dipped in 2024 Amid Weaker Chinese Demand | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jan 24, 2025, 9:30 AM CST China Petroleum & Chemical Corporation, or Sinopec, saw its refinery throughput drop by 2.03% in 2024 from a year earlier,...Continue Reading

North Korea Is Gearing Up to Send More Troops to Ukraine | OilPrice.com Premium Content By Editorial Dept – Jan 24, 2025, 8:30 AM CST Politics, Geopolitics & Conflict South Korean intelligence reports its suspicions that North Korea is gearing up to send more troops to Russia to fight in Ukraine, despite having suffered what...Continue Reading

How to Manage a Winning Trade | OilPrice.com Premium Content By Editorial Dept – Jan 24, 2025, 8:30 AM CST As vain as I can be at times, I do realize that not every reader of what I contribute here rushes out and follows my every recommendation. That is as it should be. The picks...Continue Reading

By Editorial Dept – Jan 24, 2025, 8:30 AM CST Moscow’s newer strategy in occupied Ukraine is all about natural resources, including uranium, lithium, and coal, and its shifting of troops and target areas reflects this mineral grab that shows Washington’s decades-long lack of foresight.  While natural resources did not appear to be forming Moscow’s...Continue Reading

Europe’s Rush to Secure Natural Gas | OilPrice.com Premium Content By Editorial Dept – Jan 24, 2025, 8:30 AM CST Rare Texas Winter Storm Sends Energy Prices Soaring – An unprecedented winter storm that stretched from Canada all the way to the Gulf of Mexico has sparked another electricity price spike across the United States,...Continue Reading