Nuclear talks in Oman marked the first formal engagement between Iran and the United States in years, and though progress may have been slight, it was enough to signal a willingness to temper tensions through diplomacy rather than military action. Iranian and US negotiators agreed on April 12 to continue their high-level talks over Tehran's nuclear program on April 19, with the venue likely moving to Europe from the Middle East. Axios on April 13 cited sources as saying the second round would likely be in Rome, but there has been no official comment…

OPEC has revised its global oil demand growth forecast for 2025, citing escalating trade tensions and weaker-than-expected economic indicators. The cartel now anticipates a demand increase of 1.3 million barrels per day (bpd) for 2025, down 150,000 bpd from its previous projection. Similarly, the 2026 forecast has been adjusted downward to 1.28 million bpd.  OPEC's latest report highlights that Trump’s tariff war has dampened economic activity, leading to a more cautious outlook on oil consumption. The organization also revised its global…

The Office for Budget Responsibility (OBR), one of the UK’s central forecasters, prepared itself for President Trump’s tariff war – or at least partially.  At a presentation after Chancellor Reeves’ Spring Statement, OBR chair Richard Hughes admitted the fiscal watchdog’s central forecast risked being completely undermined by global events.  Hughes came up with three possible scenarios for what Trump could announce and how much pain the UK economy would suffer. In one scenario, where the UK was slapped with…

Oil prices are sagging like a tired trampoline, and U.S. shale producers are feeling the bounce—just not in a good way. With WTI dancing around $60 and analysts wringing their hands over breakeven levels near $65, you'd be forgiven for assuming the shale patch was in full panic mode. But U.S. Energy Secretary Chris Wright—former CEO of Liberty Energy and now the government’s top oil whisperer—seems utterly unbothered. “The U.S. shale industry is going to survive and thrive,” Wright declared this week in Abu Dhabi,…

Oil prices are sagging like a tired trampoline, and U.S. shale producers are feeling the bounce—just not in a good way. With WTI dancing around $60 and analysts wringing their hands over breakeven levels near $65, you'd be forgiven for assuming the shale patch was in full panic mode. But U.S. Energy Secretary Chris Wright—former CEO of Liberty Energy and now the government’s top oil whisperer—seems utterly unbothered. “The U.S. shale industry is going to survive and thrive,” Wright declared this week in Abu Dhabi,…

Electric rate hike requests in Virginia don’t generally make the headlines globally, but the Financial Times featured a story about one: Dominion Energy’s request for a 14% rate increase for its Virginia customers. It wasn’t a slow news day, either. Donald Trump had just hiked tariffs and the pages were filled with discussions about why the administration had singled out Lesotho and Madagascar for extreme tariff punishment, to say nothing of the penguins. The FT’s story suggested that there would be more of the same from…

Last week’s price crash, which saw Brent Crude prices dip below $60 per barre, was an excessive market reaction to the U.S. tariffs, with speculators assuming there would be no growth in oil demand due to recession fears, Gunvor’s head of research Frederic Lasserre told Bloomberg. “I think the market overreacted,” Lasserre told Bloomberg in an interview, commenting on last week’s market rout. “I think this was a bit too aggressive, at least for now, and from here I see a bit more upside than downside because…

Last week’s price crash, which saw Brent Crude prices dip below $60 per barre, was an excessive market reaction to the U.S. tariffs, with speculators assuming there would be no growth in oil demand due to recession fears, Gunvor’s head of research Frederic Lasserre told Bloomberg. “I think the market overreacted,” Lasserre told Bloomberg in an interview, commenting on last week’s market rout. “I think this was a bit too aggressive, at least for now, and from here I see a bit more upside than downside because…

Russia expects its natural gas exports, including via pipeline and LNG, to jump twofold by 2030 and threefold to 2050 under its new long-term energy strategy approved by the government on Monday. Russia sees its pipeline and LNG overseas deliveries surge from 146 billion cubic meters (bcm) in 2023 to 293 bcm in 2030, and further up to 438 bcm by 2050. Crude oil and condensate production is targeted to increase from 531 million metric tons per year, or 10.66 million barrels per day (bpd), in 2023 to 540 million tons, or 10.8 million bpd, by 2050.…

The Keystone oil pipeline, which was shut last week after a leak, is expected to resume service by Tuesday, April 15, or at least this is the targeted start date announced by pipeline operator South Bow. The Keystone pipeline, with a capacity to carry more than 600,000 barrels per day (bpd) of oil from Alberta, Canada, to the United States, was shut last week following an oil leak near Fort Ransom, North Dakota. Last Wednesday, South Bow said that the affected segment was isolated, and the release was contained. The estimated release volume is…

Oil prices began the day with gains as US stock markets opened, driven by eased trade tensions and strong Chinese import data. OPEC revised its 2025 and 2026 global oil demand growth forecasts downward, citing uncertainties related to the ongoing trade war. Despite the positive start, traders remain cautious due to previous volatility and the mixed signals from supply dynamics and geopolitical factors. 1m ago 10:10am CST U.S. Oil Output Faces Risk of Decline Amid Tariff Uncertainty The U.S. oil sector, a cornerstone of Trump’s energy agenda,…

Volatility continued to reign in oil markets at the start of the week, starting with a decline before bouncing back into the green early on Monday morning. At the time of writing, Brent crude was trading at $64.88 per barrel, with West Texas Intermediate changing hands for $61.63 per barrel. The two benchmarks have shed some $10 each since the start of the month and the tariff wars. The latest development in the wars was China’s move to hike tariffs on U.S. imports to 125% in response to Trump’s latest tariff hike. The Chinese also…

Crude oil is set to end another week with substantial losses as markets reel from President Trump’s tariff offensive, despite the fact he pulled the punch at the last second. With one notable exception: China. As Beijing and Washington take turns to up the ante, the outlook for oil and energy in general has gone from bright to really dim. Brent crude is about to end this week relatively unchanged but down by $6 per barrel from a month ago. West Texas Intermediate has slipped below $60 per barrel and might spend some time there. The drop is…

Last week, eight OPEC+ countries unveiled plans to advance their planned phase-out of voluntary oil output cuts by ramping up output by 411,000 barrels per day in May--equivalent to three monthly increments. The announcement of the accelerated unwinding clip comes at a time when U.S. President Donald Trump announced tariffs on trading partners, deepening the shock to oil markets.  Brent crude for June delivery was up 0.1% to trade at $63.32 per barrel at 9.45 am ET on Friday while WTI crude was flat at $60.12 per barrel. The move confirms…

Via Metal Miner   Construction work is tentatively due to start on a dual-gauge rail line between China and the Republic of Mongolia. Reports indicate that the rail line will increase coking coal transport by up to 30%. Current estimates say the project will begin in April, with completion scheduled for 2028. Dual-Gauge Rail System to Solve Major Problems Mid-February reports noted that the 240-kilometer, dual-gauge line will run from mines at Tavan Tolgoi in Mongolia to the town of Gashuun Sukhait on the border with China. It is important…

California’s last remaining nuclear energy plant is using artificial intelligence to make its processes more efficient. So far, AI is only being used for document retrieval, but lawmakers and community watchdogs are worried about increasing automation in a sector associated with massive potential fallout in the case of nuclear meltdown. The Diablo Canyon nuclear facility in San Luis Obispo on California’s central coast has been in decline for years, and is slated to begin decommissioning in 2029. But the plant is still critically important…

Newly discovered offshore oil and gas deposits in Pakistan’s territorial seas could be brought to surface by Pakistan and Turkey. The two countries this week signed an agreement at the 2025 Pakistan Minerals Investment Forum in Islamabad to jointly bid on 40 offshore blocks. A bidding round for the granting of exploration licenses for the blocks, located in the Makran and Indus basins, was announced by the Pakistan government in February. According to News.AZ, Pakistan’s Mari Energies Limited, Oil and Gas Development Company Limited…

Decarbonization in the oil and gas sector has long been a pressing and highly debated topic among stakeholders. With 2025 being a milestone year for emissions targets, the question remains: will it mark a period of downward revisions, a continuation of the current trajectory, or a moment for companies to intensify their efforts? The direction and scale of change will ultimately determine whether these companies can achieve their intermediate emission targets and make meaningful progress towards broader net-zero commitments. This year will be pivotal…

The United States utility-scale battery storage sector has been projected to grow dramatically in 2025, as renewable energy companies look for ways to make their clean energy operations more stable and reliable. However, the recent introduction of tariffs on countries worldwide by the Trump administration, with particularly high tariffs on China, is expected to have a knock-on effect on the energy sector. It could delay the deployment of batteries as companies reconsider spending decisions in the face of higher prices.  The U.S. Energy Information…

Compared to nations in the rest of the Asia-Pacific region, the impact of climate change is moderate so far for the countries of the South Caucasus, according to an expansive study published by the United Nations measuring the impact of global warming on economic development. The UN report, titled Economic and Social Survey of Asia and the Pacific 2025: Understanding the Macroeconomic Implications of Climate Change, sheds light on the “macroeconomic and climate change nexus” that will shape economic development in the coming decades.…