U.S. crude oil production is set to peak at around 14 million barrels per day (bpd) in 2027, according to the Annual Energy Outlook 2025 of the U.S. Energy Information Administration (EIA). U.S. oil production is set to remain around the 14 million bpd level by 2030 and in the early 2030s, after which it is expected to decline faster through 2050 as the shale boom fades. Shale-only oil production in the United States will also peak in 2027, the EIA’s outlook says. In two years, shale output would hit its record of 10 million bpd, up from…

Mexico has temporarily suspended imports of fuels from the United States by truck as it is stepping up inspections of permits in a bid to clamp down on illegal fuel trades, sources with knowledge of the matter have told Reuters. As Mexico is stepping up cargo inspections, trucks loaded with diesel and gasoline are currently not being allowed to cross the Texas border into Mexico, according to one of Reuters’ sources involved in the delivery of fuels by truck. Mexican authorities have not yet given a timeline on when fuel trade by road would…

Mexico has temporarily suspended imports of fuels from the United States by truck as it is stepping up inspections of permits in a bid to clamp down on illegal fuel trades, sources with knowledge of the matter have told Reuters. As Mexico is stepping up cargo inspections, trucks loaded with diesel and gasoline are currently not being allowed to cross the Texas border into Mexico, according to one of Reuters’ sources involved in the delivery of fuels by truck. Mexican authorities have not yet given a timeline on when fuel trade by road would…

Mexico has temporarily suspended imports of fuels from the United States by truck as it is stepping up inspections of permits in a bid to clamp down on illegal fuel trades, sources with knowledge of the matter have told Reuters. As Mexico is stepping up cargo inspections, trucks loaded with diesel and gasoline are currently not being allowed to cross the Texas border into Mexico, according to one of Reuters’ sources involved in the delivery of fuels by truck. Mexican authorities have not yet given a timeline on when fuel trade by road would…

Crude oil inventories in the United States saw an increase of 500,000 barrels during the week ending April 11, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up in a rare show of strength prior to the crude data release by the U.S. Energy Information Administration after a sharp dip over the last couple of weeks in the wake of the tariff war between the United States and China. On Tuesday, the American Petroleum Institute (API) reported a build of 2.4 million barrels in…

U.S. LNG exporter Venture Global has started contractual deliveries from its first LNG export project, Calcasieu Pass, to its long-term customers amid an ongoing dispute with major oil and gas firms over the delays to the official commercial operations date at the export project. Venture Global said that Calcasieu Pass has reached the commercial operations milestone in just 68 months from the final investment decision (FID) on the project, making it among the fastest greenfield LNG projects completed. According to Venture Global, the start of commercial…

U.S. LNG exporter Venture Global has started contractual deliveries from its first LNG export project, Calcasieu Pass, to its long-term customers amid an ongoing dispute with major oil and gas firms over the delays to the official commercial operations date at the export project. Venture Global said that Calcasieu Pass has reached the commercial operations milestone in just 68 months from the final investment decision (FID) on the project, making it among the fastest greenfield LNG projects completed. According to Venture Global, the start of commercial…

Ahead of tonight's grand unveiling of what Beijing wants the world to think about its economy, the market was active with Gold soaring at the China open for the third day in a row... ...and the Yuan fix notably lower again... Ahead of the GDP print, we saw both new and existing home prices released by the statistics bureau for March showing price drops have slowed on a month-on-month basis... China March New Home Prices Fall 0.08% M/M China March Existing Home Prices Fall 0.23% M/M Of course, tonight's data tsunami is pre-Liberation Day Tariffs…

Thailand is the latest Asian economy looking to import higher volumes of American energy as a way to convince the U.S. Administration not to slap high tariffs on Thai goods sold in the United States. Thailand plans to raise its U.S. LNG imports over the next five years, Finance Minister Pichai Chunhavajira said on Wednesday. Delegations from many Asian countries are heading to Washington D.C. these days to discuss the U.S. tariffs, now suspended for 90 days, which hit the most economies in Asia and Southeast Asia, including Thailand. The tariff…

Thailand is the latest Asian economy looking to import higher volumes of American energy as a way to convince the U.S. Administration not to slap high tariffs on Thai goods sold in the United States. Thailand plans to raise its U.S. LNG imports over the next five years, Finance Minister Pichai Chunhavajira said on Wednesday. Delegations from many Asian countries are heading to Washington D.C. these days to discuss the U.S. tariffs, now suspended for 90 days, which hit the most economies in Asia and Southeast Asia, including Thailand. The tariff…

The eight OPEC+ countries that have been cutting oil production will have to compensate 4.57 million barrels per day (bpd) in overproduction so far, and the compensation plans entail offsetting all above-quota output by June 2026. Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman have submitted their individual compensation plans to OPEC, the cartel said on Wednesday. Source: OPEC Since the very first OPEC+ agreement in 2016, OPEC and its non-OPEC allies have been struggling with overproduction from several…

Previously, we reported that the ESG investing boom of yesteryears has gone bust. Environmental, social and governance (ESG) investing spiked in 2020 and 2021 amid the COVID-19 pandemic with low oil prices driving more investments beyond fossil fuels, while fund managers tried to appear more climate-conscious. However, the oil price boom of 2022/2023, political backlash against ESG led by Republican politicians as well as claims about greenwashing have made ESG investing lose plenty of luster.  To wit, Texas has barred state entities, including…

“The sky won’t fall,” the spokesman of China’s customs authority said this week, referring to President Trump’s trade war in China, just as the authority reported an over 12% jump in exports for March. China is preparing to respond to the tariffs—by going gray in trade. The New York Times reported this week that there is a growing fear in Europe that China may start redirecting its cheap, subsidized products to European markets in response to U.S. tariffs. Examples included electric cars, steel—which Europe…

The fact that U.S. President Donald Trump ordered a pause on the raft of new tariffs against most of the world’s countries – but not on most of those directed at China – highlights what these new levies are really all about. They are in large part specifically aimed at finally correcting a longstanding imbalance in the trade deficit between the U.S. and China since the Ccmmunist country developed a capitalist twist in the 1990s under former leader Deng Xiaoping. This gap has become increasingly more dramatic through China’s…

Over the past 100 years of US utility regulation, we’ve witnessed a great inversion of power: a once muscular administrative state has been severely weakened. In boxing terms, the utilities have won this round decisively vs big government. The financial implications are that state utility commissions and risk taking equity investors have become unnecessary. Why? Because if regulators uncritically approve every major utility capital initiative while authorizing generous returns on capital, then those jurisdictions already operate in a regime…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 2.4 million barrels for the week ending April 11. Analysts expected a loss of 1.680 million for the week. The API estimated a 1.057 million barrel drop in the prior week. So far this year, crude oil inventories have climbed more than 24 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 0.3 million…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 2.4 million barrels for the week ending April 11. Analysts expected a loss of 1.680 million for the week. The API estimated a 1.057 million barrel drop in the prior week. So far this year, crude oil inventories have climbed more than 24 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 0.3 million…

The International Maritime Organization (IMO) has concluded the 83rd session of its Marine Environment Protection Committee (MEPC 83), marking a significant advancement in maritime decarbonization efforts. A pivotal outcome of this session was the approval of the IMO Net-Zero Framework, despite reservations expressed by certain member states, including the US and several oil production states.Rystad Energy's research highlights that the IMO's direct compliance targets are notably more ambitious compared to those set by FuelEU Maritime. Under the…

Chinese leader Xi Jinping called for upholding multilateral trade as he landed in Vietnam as part of a high-stakes tour of Southeast Asia's most export-reliant economies as he looks to capitalize on global trade tensions with the United States. The three-country visit, which begins with a two-day state visit to Vietnam on April 14, will also take Xi to Malaysia and Cambodia as he aims to emphasize China as a stable partner in contrast to the United States, which has imposed and then suspended punishing tariffs across the region and roiled global…

Complicating Turkey’s COP31 bid is Ankara’s diplomatic distancing from the West in recent years, coupled with mounting democratic backsliding, underscored by the recent arrest of Erdoan’s leading political rival, Istanbul Mayor Ekrem Imamoglu, who maintains his jailing is politically motivated. To secure COP31, Turkey is expected to engage in high-level dialogue seeking support from Western Europe, North America and New Zealand. According to Ümit ?ahin, a prominent Turkish climate expert and the coordinator of climate change…