Brent crude now trades above fiscal breakeven prices for the four biggest oil producers in the Middle East after Saudi Arabia convinced fellow OPEC+ members to keep output largely unchanged. SourceContinue Reading

Oil rallied toward $70 a barrel after OPEC+ chose not to relax supply curbs even as the global economy pulls out of its pandemic-driven slump, confounding widespread expectations the group would loosen the taps. SourceContinue Reading

Senator Ted Cruz is delaying William Burns’s confirmation as CIA director to demand that the Biden administration do more to halt the Nord Stream 2 gas pipeline, as Republicans seek to ramp up pressure now that construction has resumed. SourceContinue Reading

Hydrogen is morphing from a niche power source — used in zeppelins, rockets and nuclear weapons — into big business, with the European Union alone committing $500 billion to scale up its infrastructure. SourceContinue Reading

The companies that frac wells and make the equipment necessary to produce oil cut an estimated 12,321 jobs over a three-month stretch ending in February, according to an analysis of labor market data by the industry-funded Energy Workforce and Technology Council. SourceContinue Reading

The supply cuts out of Northern Alberta, following a surprise OPEC+ decision to not increase output next month, could add more support to the recent rally in crude prices. OPEC+ had been debating whether to restore as much as 1.5 million barrels a day of output in April but decided to wait. SourceContinue Reading

The surprise move by OPEC+ to maintain oil supply restrictions through April, coupled with Saudi Arabia’s decision to extend voluntary curbs, has stunned the global energy market. Prices surged again on Friday, with West Texas Intermediate topping $65 a barrel, and Brent climbing above $68. SourceContinue Reading

Saudi Arabia and its OPEC+ allies stunned the oil market with a decision to keep supply in check, sending prices surging and adding inflationary pressure to the global economy as it emerges from the pandemic. SourceContinue Reading

Providing more detail on Exxon’s recently-announced efforts to commercialize low-carbon technologies, CEO Darren Woods stressed that partnering with outside investors would be a key objective of. It would also mean Exxon would not need to fund large projects solely with its own cash. SourceContinue Reading

Oil surged to the highest in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead. SourceContinue Reading