Month: December 2025

At least two oil tankers have made their way to Venezuela in recent days and others are navigating towards the country, a sign of state-run PDVSA’s effort to expand floating storage and keep selling crude even as a U.S. blockade has reduced exports to a minimum. U.S. President Donald Trump this month announced a blockade … Read more

(Reuters) – Oil prices were little changed on Tuesday as investors took stock of dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen. Brent crude futures for February delivery , which expire on Tuesday, were up 32 cents, or 0.52%, at $62.26 a barrel as of 1206 … Read more

By Reuters FILE PHOTO: FILE PHOTO: Facilities of the Caspian Pipeline Consortium’s (CPC) Marine Terminal in Yuzhnaya Ozereevka near the Black Sea port of Novorossiysk, Russia, September 21, 2021. Caspian Pipeline Consortium (CPC)/Handout via REUTERS Summary Kazakhstan oil output down 6% in December 1–28 versus November average Tengiz field output down 10% to 719,816 bpd November … Read more

The White House has ordered U.S. military forces to focus almost exclusively on enforcing the “quarantine” of Venezuelan oil for at least the next two months, a U.S. official told Reuters on Wednesday.   “While military options still exist the focus is to first use economic pressure by enforcing sanctions to reach the outcome the … Read more

Clyde Russell LAUNCESTON, Australia, Dec 23 (Reuters) – Conventional wisdom in the crude oil market is that producers such as OPEC+ largely determine the price by altering output levels to achieve a desired outcome. That shibboleth was challenged in 2025 by China, which used its status as the world’s biggest oil importer to provide an effective price floor … Read more

Summary Oil heading for largest annual decline since 2020 US targets Islamic State militants in Nigeria, no direct impact on oil infrastructure Venezuelan oil under US economic pressure (Reuters) – Oil prices were stable on Friday as investors weighed potential supply risks from developing geopolitical tensions in a thinly attended post-Christmas session, after the U.S. … Read more

Summary Brent, WTI gain about 6% since last week’s lows Oil set for biggest annual decline since 2020 US economy grew faster than expected in the third quarter Weekly US crude, fuel stocks rose last week – API (Reuters) – Oil prices rose slightly for a sixth day on Wednesday, supported by robust U.S. economic … Read more

(Reuters) – Venezuela’s state-run oil company PDVSA has started filling up tankers with crude and fuel oil it has in storage as inventories mount amid moves by the U.S. to seize Venezuela-linked ships, according to company documents and shipping data. The U.S. Coast Guard this month intercepted the Skipper and Centuries tankers in the Caribbean … Read more

Summary U.S. might keep or sell seized Venezuelan oil, says President Trump Barclays expects oil surplus to shrink next year if Venezuelan exports fall (Reuters) – Oil prices were little changed on Tuesday as potential sales of Venezuelan crude seized by the United States were countered by heightened supply disruption fears after Ukrainian attacks on … Read more

PALM BEACH, Florida, Dec 22 (Reuters) – U.S. President Donald Trump said on Monday the United States would maybe keep and maybe sell the oil it had seized off the coast of Venezuela in recent weeks, adding the United States would also keep the seized ships. “Maybe we will sell it, maybe we will keep … Read more

December 22 (Reuters) – Oil tanker loadings slowed on Monday in Venezuela, with most vessels carrying oil shipments only between local ports, sources and ship tracking data showed, following U.S. actions targeting two more ships and as Venezuelan state oil company PDVSA struggles to recover from a cyberattack. U.S. authorities said the U.S. Coast Guard … Read more

China’s foreign ministry on Monday said the United States’ seizure of another country’s ships was a serious violation of international law, after the U.S. intercepted a China-bound oil tanker off the Venezuelan coast. Venezuela has the right to develop relations with other countries, China’s foreign ministry spokesperson Lin Jian said at a daily press briefing, … Read more

Summary US intercepts Venezuelan oil tanker, raising supply disruption fears Trump administration’s hardline approach sparked rebound in crude prices Crude benchmarks up about 1.8% LONDON, Dec 22 (Reuters) – Oil prices rose on Monday after the U.S. intercepted an oil tanker in international waters off the coast of Venezuela and tensions in Russia’s war against … Read more

The United States is interdicting and seizing a vessel off the coast of Venezuela in international waters, three U.S. officials told Reuters on Saturday, a move that comes just days after U.S. President Donald Trump announced a “blockade” of all sanctioned oil tankers entering and leaving Venezuela. This would mark the second time in recent … Read more

By Scott Disavino Summary Brent and WTI prices rise amid Venezuelan tanker blockade Russia-Ukraine peace talks impact oil market sentiment U.S. sanctions increase pressure on Venezuela’s oil exports (Reuters) – Oil prices edged up on possible disruptions from a U.S. blockade of Venezuelan tankers as the market waits for news about a possible Russia-Ukraine peace … Read more

By Keira Wright and Ruth Liao Meg O’Neill’s rapid rise to the top of one of the world’s biggest fossil-fuel companies has been unencumbered by doubt. At a moment when oil executives are still being pressed to move away from hydrocarbons, she has a different argument: that the world is nowhere near done with them. … Read more

Summary Potential supply glut from OPEC+ and US weighs on prices Venezuela oil export operations continue despite US sanctions Analysts predict lower prices could curb supply, preventing price freefall (Reuters) – Oil prices were little changed on Friday and poised for a second straight weekly decline as a potential supply glut and prospects of a … Read more

(Reuters) – Saudi Arabia’s crude oil exports hit their highest level in two and a half years in October, data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Crude exports from the world’s largest oil exporter increased to 7.100 million barrels per day (bpd), higher than September’s 6.460 million bpd, and their highest … Read more

The surprise appointment of Meg O’Neill as BP’s first outsider CEO offers the bruised $90 billion British oil company three clear strategic choices for moving forward: build, buy or be bought. BP announced on Wednesday that CEO Murray Auchincloss would step down the following day and that O’Neill, current CEO of Australian-listed Woodside Energy, would … Read more

Oil and gas major BP has appointed Meg O’Neill, the head of Australia’s Woodside Energy, as its next CEO to lead its effort to boost profits and refocus on oil and gas after a detour into renewables. O’Neill, who will take over in April following the abrupt departure of Murray Auchincloss, will become BP’s first … Read more

Summary US prepares more Russian energy sanctions if Moscow rejects peace deal, Bloomberg reports Venezuela’s PDVSA resumes loading after cyberattack, most exports on hold Trump announced blockade of tankers under sanctions on Tuesday, enforcement unclear EU targets 41 additional vessels in Russia’s shadow fleet (Reuters) – Oil prices steadied on Thursday as investors assessed the … Read more

By Francois de Beaupuy, Nayla Razzouk, and Francine Lacqua TotalEnergies SE Chief Executive Officer Patrick Pouyanne said rising demand for oil will help to underpin prices, despite their recent slump on growing concerns about a global surplus. Oil is on track for a yearly loss, with supply set to exceed demand both this year and … Read more

(Reuters) – Venezuela may soon have to start closing some oil wells as it runs low on storage capacity following last week’s tanker seizure and U.S. plans to block other sanctioned vessels, Bloomberg News reported on Wednesday, citing people familiar with the situation The country’s main oil storage and tankers sitting at its terminals are … Read more

By Bruno Venditti | Graphics/Design: Sam Parker Key Takeaways New Mexico doubled oil production from 2019 to 2024, reaching over 2M barrels/day. Texas remains the top oil-producing state with 5.7M barrels/day, leading the Permian Basin output. The U.S. is in the midst of a historic oil boom. For the past two years, the country has … Read more

US forces intercept and seize a sanctioned oil tanker off the coast of Venezuela, in a video released by the US Department of Justice on Dec. 10.Source: US Department of Justice The US has ratcheted up pressure on the government of Venezuela with a series of measures designed to stifle the country’s vital oil exports. … Read more

The United States is preparing a further round of sanctions on Russia’s energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace deal with Ukraine, Bloomberg News reported on Wednesday, citing people familiar with the matter. The U.S. is considering options such as targeting vessels in Russia’s so-called shadow fleet … Read more

Summary Trump blockade on sanctioned tankers entering and leaving Venezuela Uncertainty around implementation of Trump’s blockade US crude stocks fell 9.3 million bbls last week: API (Reuters) – Oil prices rallied more than 2% on Wednesday after U.S. President Donald Trump ordered a complete blockade of all sanctioned oil tankers entering and leaving Venezuela, raising geopolitical tensions … Read more

By Clyde Russell LAUNCESTON, Australia, Dec 16 (Reuters) – China’s flows of crude oil into storage probably jumped in November to the highest in six months, as a surge in imports overwhelmed steady refinery processing rates. China’s surplus of crude was about 1.88 million barrels per day (bpd) in November, almost three times the 690,000 … Read more

Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth will hold closed, classified briefings for all U.S. senators and representatives on Tuesday about the Trump administration’s strategy toward Venezuela. President Donald Trump’s objectives remain unclear to many lawmakers, even after 3-1/2 months, more than 20 deadly U.S. strikes on boats off the South … Read more

Summary Russia-Ukraine peace talks raise hopes for easing sanctions Surge in Chinese buying from Venezuela, glut in floating storage limit market impact of US tanker seizure (Reuters) – Oil prices fell on Tuesday to below $60 a barrel – the lowest since May this year – as prospects for a Russia-Ukraine peace deal appeared to … Read more