Month: January 2026

Summary Iran says defense capabilities not for discussion US issues new Iran-related sanctions Trump names Kevin Warsh for Fed chair Oil benchmarks set for highest monthly gains in since 2022 (Reuters) – Oil prices dipped a few cents per barrel on Friday, consolidating recent gains and holding near six-month highs on Friday, supported by nagging … Read more

(Reuters) – Mexico’s President Claudia Sheinbaum said on Friday her country would seek diplomatic solutions and alternatives to help Cuba after the United States threatened tariffs on nations that supply the Caribbean nation with oil. “We need to know the scope because we don’t want to put our country at risk in terms of tariffs,” … Read more

(Reuters) – Exxon Mobil CEO Darren Woods told analysts on Friday that the company has the technology that would be needed to produce higher cost barrels from Venezuela. While he had previously called the South American country “uninvestable” in remarks earlier this month at a White House meeting that later drew a rebuke from President … Read more

By Ron Bousso LONDON, Jan 30 (Reuters) – Oil prices remain stuck in a narrow band even after soaring 15% in January, partly on fears of a fresh U.S. strike on Iran. Tough talk on either side is unlikely to push crude prices much higher, given today’s well-supplied market. What would be needed is big-time … Read more

Summary Trump names Kevin Warsh for Fed chair Brent crude set for biggest monthly jump since January 2022 WTI set for largest monthly gain since July 2023 (Reuters) – Oil prices slipped on Friday on signs that the U.S. may engage in dialogue with Iran over its nuclear programme, reducing concern over potential supply disruptions … Read more

(Reuters) – The Trump administration on Thursday eased some sanctions on the Venezuelan oil industry as it seeks to expand production there after U.S. forces ousted the South American country’s President Nicolas Maduro on January 3. The U.S. Treasury issued a general license authorizing transactions involving the government of Venezuela and state oil company PDVSA … Read more

(Reuters) – Lawmakers are expected to discuss on Thursday a sweetened reform of Venezuela’s main oil after a proposal submitted by interim President Delcy Rodriguez was modified to introduce a new hydrocarbon tax, the possibility of asset privatizations and oilfield operation outsourcing, a draft seen by Reuters showed. The changes are expected to encourage oil … Read more

  Summary Lukoil agrees to sell global assets to Carlyle Group Foreign assets worth about $22 billion -analysts The value of the deal has not been disclosed Transaction with Carlyle dependent on U.S. approval Deal excludes Lukoil’s assets in Kazakhstan, CPC (Reuters) – U.S. private equity firm Carlyle Group has agreed to buy most of … Read more

Summary Exxon, Chevron Q4 earnings could be overshadowed by geopolitical intrigue Chevron in the spotlight on Venezuela, only US oil major operating there Exxon signals potential $1.2 billion cut in upstream earnings from low oil prices (Reuters) – Exxon Mobiland Chevron  executives may face more questions about their investment opportunities in Venezuela than their actual … Read more

Summary US-Iran tensions remain key near-term price driver Markets pricing in geopolitical risk premiums US winter storms, Kazakh outages, also adding support (Reuters) – Brent oil ​futures prices jumped on Thursday, hitting a four-month high on rising concerns of ‌the potential impact a possible U.S. military attack on Iran, OPEC’s fourth-largest producer, with output of … Read more

By Julian Lee Oil traders seeking to plot the path for prices this year are juggling sharply different assessments of the supply-demand outlook, from a huge surplus to a broadly balanced market. The world’s three main forecasting agencies — the International Energy Agency, the US Energy Information Administration and the Organization of the Petroleum Exporting … Read more

By Georgina McCartney HOUSTON, Jan 28 – U.S. crude oil producers were bringing wells back online on Wednesday following a severe winter storm that swept across the country over the weekend, straining energy infrastructure and power grids. Domestic crude output is now estimated to be down around 600,000 barrels per day, roughly 4% of total … Read more

Raising funds from oil and gas infrastructure assets, while retaining control, is now firmly part of the playbook of Gulf Arab national oil companies, helping them raise billions of dollars for their ambitious diversification plans. Reuters reported on Wednesday that Kuwait could launch a deal to offer investors a stake in its oil pipeline assets … Read more

Summary Winter storm disrupts US crude output and exports OPEC+ likely to maintain pause on output increases, sources say US dollar near four-year lows (Reuters) – Oil prices hit their highest since late September on Wednesday after a winter storm disrupted U.S. crude output while a weak U.S. dollar and continued Kazakh outages lent further … Read more

(Reuters) – A commission of Venezuela’s National Assembly has received more than 80 proposals from politicians, lawyers and energy associations seeking changes to a reform of the country’s main oil law, sources close to the talks said, a blow for lawmakers rushing to have the reform approved next week. Interim President Delcy Rodriguez introduced the … Read more

(Reuters) – Where exactly is the expected supply glut in the global crude market? The best answer is China, which saw storage flows surge in December, resulting in a surplus of more than 1 million barrels per day for 2025. China’s surplus of crude oil jumped to 2.67 million bpd in December, up from 1.88 … Read more

(Reuters) – U.S. oil producers lost up to 2 million barrels per day or roughly 15% of national production over the weekend, analysts and traders estimated, as a winter storm swept across the country, straining energy infrastructure and power grids. Oil production outages peaked on Saturday, consultancy Energy Aspects estimated, with the Permian Basin likely … Read more

(Reuters) – Oilfield services company Baker Hughes said on Monday that there is significant revenue opportunity in Venezuela, with the main considerations for operating there being safety and conditions for employees, and clarity on legal and regulatory frameworks. The Houston-headquartered company has been working with authorities on Venezuela after the U.S. earlier this month removed … Read more

Summary US winter storm disrupts crude production Geopolitical tensions with Iran add to market uncertainty Kazakhstan’s Caspian Pipeline resumes full capacity after maintenance (Reuters) – Oil prices edged higher on Monday after climbing more than 2% in the previous session, as output disruptions in major U.S. crude-producing regions and tensions between the U.S. and Iran … Read more

The Mexican government is reviewing whether to keep sending oil to Cuba amid growing fears within President Claudia Sheinbaum’s administration that Mexico could face reprisals from the United States over the policy, which is a vital lifeline for the Communist-run Caribbean island, according to three sources familiar with the discussions. A U.S. blockade of oil … Read more

By Arathy Somasekhar and Tanay Dhumal SLB says it is receiving lots of inquiries from customers about Venezuela Company had over $1 billion in annual revenue from Venezuela a decade ago Rival Halliburton has said it is working through mechanics around licenses HOUSTON, Jan 23 (Reuters) – U.S. oilfield service company SLB said on Friday … Read more

By Shariq Khan Trump escalates pressure against Iran Warships to arrive in Middle East in coming days, US official says US sanctions vessels involved in transporting Iranian oil Kazakhstan oil output yet to resume NEW YORK, Jan 23 (Reuters) – Oil prices settled at their highest in over a week on Friday after U.S. President … Read more

(Reuters) – The U.S. takeover of Venezuela’s oil exports has re-routed crude barrels that were being used to service debt owed to China. How much does Venezuela owe China, and how and why was the country getting debt payments after Venezuela’s default? HOW MUCH DOES VENEZUELA OWE CHINA? Data on Venezuela’s debt is sketchy, particularly … Read more

  Summary Oil prices had dropped on Thursday as Greenland tension subsided Supply disruption concerns offered price support Kazakhstan’s Tengiz oilfield yet to resume output (Reuters) – Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against Iran, raising concerns of military action that could disrupt crude supplies while there are outages … Read more

(Reuters) – The Trump administration is allowing China to purchase Venezuelan oil but not at “unfair, undercut” prices at which Caracas sold the crude before the U.S. removed its leader Nicolas Maduro, an administration official said on Thursday. While the oil will be sold in the global marketplace, the U.S. administration has required that the … Read more

(Reuters) – A profound proposed reform of Venezuela’s hydrocarbons law would allow foreign and local companies to operate oilfields on their own through a new contract model, commercialize output and receive sale proceeds even if acting as minority partners of state company PDVSA, drafts seen by Reuters on Thursday showed. Venezuela’s interim President Delcy Rodriguez … Read more

By Weilun Soon Rates to ship crude on tankers are surging more widely across the world after the US moved to exert control over Venezuelan flows, a trade once primarily handled by a dark fleet of aging vessels. Shipowners are deploying legitimate tankers near the US Gulf in anticipation of higher demand for vessels instead … Read more

Summary Trump steps back from tariff threats over Greenland IEA revises up forecasts for 2026 global oil demand growth US crude stocks up by 3.04 million barrels last week, API says (Reuters) – Oil prices slipped on Thursday, reversing the previous sessions’ gains, after U.S. President Donald Trump softened threats against Greenland and Iran, and as investors assessed the supply … Read more

Summary Wright criticizes EU and California’s green energy policies EU scales back corporate sustainability laws after pressure Occidental exited California due to state regulations, Hollub says (Reuters) – The world needs to more than double oil production, U.S. Energy Secretary Chris Wright said on Thursday, while criticizing the European Union and the U.S. state of … Read more

(Reuters) – The volume of Venezuelan oil exported under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data and PDVSA documents showed, highlighting slow progress that has prevented the state oil company from fully reversing recent output cuts. Caracas and Washington earlier this month agreed a … Read more

Summary Oil output at two Kazakh fields to be halted for 7-10 days, sources say US tariff pressure over Greenland, US stockpile data weigh on oil prices US-Iran risks remain high, analysts say (Reuters) – Oil prices rose on Wednesday as investors assessed a temporary shutdown at two large fields in Kazakhstan, expectations of a … Read more