Markets

China National Petroleum Corporation (CNPC), a state-owned oil and gas entity, projects a peak in China's oil demand by 2030, forecasting an annual range between 780MM and 800MM mt.

Recent reports and analyses paint a nuanced picture of the global oil and gas market, challenging the optimistic narrative presented at COP28.

Ongoing discord within OPEC+ regarding deeper production cuts has resulted in a lackluster announcement, pressuring oil prices lower.

The recent surge in US crude oil production, reaching a record 13.2MM b/d in Sept., is posing a significant challenge to OPEC's efforts to stabilize oil prices and implement production cuts.

In a recent escalation of geopolitical tensions, Venezuelan President Nicolas Maduro's pursuit of annexing oil-rich Essequibo has placed ExxonMobil and Chevron in a precarious position.

The Biden administration's recent finalization of comprehensive methane regulations in the United States is set to significantly impact the oil and gas sector across the country.

The COP28 climate summit, currently in its final phase, is witnessing heightened tensions and divergent views regarding the future of fossil fuels.

South America's newcomer oil producer is asserting a larger footprint in the global oil market, particularly in Europe, as data reveals a substantial increase in oil exports to the continent.

Doubts about how much production OPEC+ members will actually cut as well as bearish sentiment on the global economy continued to weigh on futures prices for benchmark crudes.

Prices for NYMEX WTI, ICE Brent, and DME Oman got some support on Tuesday and Wednesday from a supply disruption in the Black Sea.