Not only is the world’s second largest economy resisting calls to phase out coal – they’re revolutionizing it. One Chinese company has gone all in on artificial intelligence to run its coal mining operations – and now it’s raking in more profits than your average investment bank. Even with coal prices in decline, the mine posted a 40% profit margin in 2024. With the one-two punch of energy security and profitability, coal is likely here to stay in the Chinese energy mix, climate pledges be damned. The Dahaize Mine…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

The escalating trade war between the US and China could increase liquefied natural gas flows to energy-stricken Europe, as China remains on a multi-month buying strike.  Bloomberg cited marine traffic data from Kpler, showing that no US LNG shipments are currently inbound or about to be inbound to China. "Zero LNG trade between China and the US is likely to continue for the rest of 2025, with a further increase in China's tariff on US LNG from the previous 15% to 49%, as a counterstrike against Trump's steepest tariffs," Wei…

Diamondback Energy, Inc. (NASDAQ: FANG) President Kaes Van’t Hof is demanding answers from the Trump administration as to how he plans to balance the economic destruction of tariffs with a stated plan to increase American shale output.  Van’t Hof took to social media to publicly call for clarification from the White House, suggesting that the shale industry’s contribution to the U.S. economy and its status as a global oil powerhouse deserves to know what the risk is. For America’s shale producers, it’s been a…

Far removed from the battlefields of Ukraine, the United States, European Union and Russia are facing off on a second front in a struggle over the nuclear energy sector and control of uranium supply chains. While the war in Ukraine may have ground to a stalemate amid a halting search for a ceasefire, Russia is clearly winning the fight over nuclear energy – at least for now.  Rosatom, the Russian state-controlled nuclear entity, holds commanding field position in the decarbonized power sector, which allows the Kremlin to punch far above…

Oil continued its downward trajectory on Monday afternoon, with the stock market briefly reversing losses after CNBC reported the White House was considering a 90-day pause in tariffs for everyone except China. Oil prices barely got to respond before the White House walked the report back as “fake news”. On Monday at 11:12 a.m. ET, Brent crude was trading down another 1.17%, sitting at $64.81, while the U.S. crude benchmark West Texas Intermediate (WTI) was trading down 1.18% at $61.26.  ??U.S. stock markets opened sharply lower…

The US ambassador expressed “solidarity” with Kyiv following multiple Russian attacks on civilian areas, a day after Ukrainian President Volodymyr Zelenskyy criticized Washington for what he called a “weak response” to Moscow’s deadly campaign against his country’s cities. “We stand in solidarity with the people of Ukraine on this day of national mourning after a Russian missile attack in Kryviy Rih killed 20, including 9 children. Our deepest condolences to the families and loved ones of all those killed…

A Reuters survey on Monday showed OPEC oil output falling in March, driven primarily by drops in supply from Nigeria, Iran and Venezuela.  OPEC pumped 26.63 million barrels per day in March, or 110,000 bpd less than February, according to the survey.  Nigeria, Iran, and Venezuela each saw a drop in March output of 50,000 bpd.  Nigeria is still pumping just above its OPEC quota, but in March, the country reduced supply to its new Dangote refinery. With respect to Iran, February’s output was a record high not seen in six years,…

The oil industry in Alberta is bracing for difficult times ahead, with WTI prices crashing to $60 per barrel and uncertainties about oil demand growing in a world of trade and tariff wars. Last week, the tariffs announced by the Trump Administration and the decision by OPEC+ producers to add in May more barrels to the market than expected crushed oil prices, with WTI Crude, the U.S. benchmark, crashing to $60 per barrel—the lowest level in four years. The benchmark U.S. oil price, against which Alberta’s producers plan and budget their…

Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted…

Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted…

Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted…

India is raising the excise duty on gasoline and diesel effective April 8, the government said on Monday, but noted that the increase in the excise duty would not be felt at the pump. The rise in the excise duty will not raise retail gasoline and diesel prices as it would be borne by oil marketing companies and would be adjusted against the price cut that was warranted because of falling international oil prices. India has regularly raised the excise duty on fuels when international oil prices drop significantly. Since the middle of last week,…

Oil prices experienced a significant drop, with West Texas Intermediate crude momentarily falling below $60 per barrel. President Trump's recent tariff announcements have sparked fears of a global recession and reduced trade activity, negatively impacting oil demand. Analysts warn that escalating trade disputes could lead to industrial slowdowns and further depress oil consumption, potentially pushing prices even lower. 1m ago 10:52am CST Natural Gas Prices Slide Alongside Oil Natural gas prices are dropping in lockstep with oil, falling 1.72%…

Citi has cut its Brent Crude forecast to $60 per barrel for the next three months on the back of last week’s tariff announcement by U.S. President Donald Trump. The investment bank also reduced its 0-3 month copper and aluminum price forecasts amid expectations of slowing economic growth, according to a note on Monday carried by Reuters. Oil prices have lost about $10 in the two and a half trading days since Wednesday’s across-the-board tariffs which were a lot higher than the market was expecting. Early on Monday, WTI Crude prices…

Citi has cut its Brent Crude forecast to $60 per barrel for the next three months on the back of last week’s tariff announcement by U.S. President Donald Trump. The investment bank also reduced its 0-3 month copper and aluminum price forecasts amid expectations of slowing economic growth, according to a note on Monday carried by Reuters. Oil prices have lost about $10 in the two and a half trading days since Wednesday’s across-the-board tariffs which were a lot higher than the market was expecting. Early on Monday, WTI Crude prices…

Russia’s flagship Urals crude grade has tumbled alongside all major oil benchmarks in the global market rout and is close to the $50 per barrel threshold for the first time in nearly two years. The Urals price was at around $52 per barrel at the Baltic Sea port of Primorsk on Friday, according to data from Argus Media cited by Bloomberg. The price of Urals further dropped on Monday as oil prices continued to fall, with WTI Crude, the U.S. benchmark, down to $60 per barrel, and Brent Crude prices at $64. The market selloff that began on Thursday,…

Independent refineries in China, often called teapots, raised their run rates in March in a positive sign for oil demand from the world’s largest importer but worry remains about the immediate outlook. The average run rate for the independents last month was 46%, Reuters reported, citing figures from Chinese energy consultancy Oilchem. The publication noted, however, that the March increase came from a rather low base of below 45% in February as the effect of the Biden administration’s parting sanctions on Russia’s energy industry…

The price slump in crude oil that began last week has extended into this one as market players’ fears about a global recession deepen. At the time of writing, Brent crude was trading at just below $64 per barrel, while West Texas Intermediate was changing hands for $60.54 per barrel, both down by over 2% from Friday’s close. Last week, crude oil prices took a 7% dive after China announced retaliatory tariffs for U.S. imports, matching the U.S. rate of 34% on top of existing levies. The move was universally seen as bearish for crude…