OPEC+ stuck to the script at Monday’s Joint Ministerial Monitoring Committee (JMMC) meeting, offering no changes to current output policy and little surprise for market watchers. The virtual meeting—its 61st—reviewed production data from May and June and confirmed what most already suspected: while the group remains on track with its broad plans, not every member is keeping pace. The committee emphasized once again the “critical importance” of full conformity with the agreed production levels, especially in light of…

Ahead of trade talks in Stockholm that are set to begin today, The South China Morning Post reports that, according to sources close to the matter on both sides, the US and China are set to extend their tariff truced by another three months. China and the United States agreed in May to remove most of the heavy tariffs levied on each other's goods for 90 days while continuing trade negotiations. That suspension is set to expire on August 12. SCMP reports that one source said that, during the expected 90-day extension, the two nations will commit…

Shares of U.S. LNG producers jumped in early trading Monday after the European Union agreed to dramatically increase its energy imports from the United States, pledging $250 billion in annual purchases under a new transatlantic trade framework. The move includes LNG, oil, and nuclear energy and was announced in Brussels earlier today. Cheniere Energy, NextDecade, and Venture Global were among the biggest pre-market gainers, with some stocks rising as much as 8.8% before the U.S. market opened. Analysts cited expectations of increased long-term…

Shares of U.S. LNG producers jumped in early trading Monday after the European Union agreed to dramatically increase its energy imports from the United States, pledging $250 billion in annual purchases under a new transatlantic trade framework. The move includes LNG, oil, and nuclear energy and was announced in Brussels earlier today. Cheniere Energy, NextDecade, and Venture Global were among the biggest pre-market gainers, with some stocks rising as much as 8.8% before the U.S. market opened. Analysts cited expectations of increased long-term…

Shares of U.S. LNG producers jumped in early trading Monday after the European Union agreed to dramatically increase its energy imports from the United States, pledging $250 billion in annual purchases under a new transatlantic trade framework. The move includes LNG, oil, and nuclear energy and was announced in Brussels earlier today. Cheniere Energy, NextDecade, and Venture Global were among the biggest pre-market gainers, with some stocks rising as much as 8.8% before the U.S. market opened. Analysts cited expectations of increased long-term…

Saudi Arabia is expected to raise the official selling price (OSP) of Arab Light crude to Asia for September-loading cargoes, according to trading sources cited Monday by Reuters. The anticipated hike would mark a second consecutive monthly increase as regional refining margins strengthen and domestic crude burn limits outbound volumes. Forecasts suggest Arab Light’s premium may rise by $0.90 to $1.05 per barrel over the Oman/Dubai average, placing the final differential in the range of $3.10 to $3.25, trading desks told Reuters. Other grades,…

Oil prices moved higher in early Asian trade on Monday after the U.S. and EU reached a tariff agreement, averting a major trade war. The framework sets U.S. tariffs on most EU goods at 15%, down from previously threatened levels, and includes EU commitments to purchase U.S. energy and invest in American industry. The agreement helped shore up demand sentiment—but traders remain cautious ahead of what is set to be a big week for oil prices. Attention now turns to the OPEC+, with a Joint Ministerial Monitoring Committee convening on Monday…

The United States and European Union officially reached a tariff agreement on Sunday, averting a potentially crippling transatlantic trade war. Following months of contentious negotiations, U.S. President Donald Trump and European Commission President Ursula von der Leyen announced the deal at Trump’s Turnberry golf resort in Scotland. The announcement sent oil prices higher on Monday, with West Texas Intermediate (WTI) crude rising to $65.52 and Brent crude climbing to $68.84. Market optimism was buoyed by the expectation of increased U.S.…

Over the past couple of years, China has become the world’s largest importer of Liquefied Natural Gas (LNG), surpassing Japan as the top buyer of super-chilled gas since 2021. China’s surging LNG imports have been shaping Asian energy flows, with the country accounting for more than 40% of the continent's total LNG import growth. However, China’s dominance in LNG markets now appears in jeopardy, and we are seeing a prolonged decline in imports. According to ship-tracking data by Kpler via Bloomberg, China’s LNG imports are…

China’s coal hubs are some of the biggest in the world, with the Asian country having long relied on the fossil fuel for power and industry. However, some of these regions are now being transformed into green energy hubs, as China gradually reduces its reliance on coal in favour of renewable alternatives. One such region is Shanxi in the North of China.  In 2023, China produced around 4.71 billion tonnes of coal from over 3,000 mines. Coal is China’s biggest source of carbon emissions. However, with China pledging to achieve peak…

Nuclear energy is experiencing a political and technical renaissance. Around the world, nuclear fission is gaining traction as a critical piece of the puzzle for maintaining energy security while also slashing greenhouse gas emissions. Much of the renewed excitement over nuclear power comes from advances in nuclear technologies, particularly small modular reactors (SMRs), which are supposed to make nuclear capacity expansion cheaper, safer, and more efficient. SMR is still a broad term, encompassing models with capacities ranging from 1 megawatt…

United States President Donald Trump announced plans in July to tighten federal permitting to restrict solar and wind energy development. This follows the passing on Trump’s One Big Beautiful Bill Act, which seeks to expand the fossil fuel and nuclear power sectors while also halting renewable energy progress in the U.S. These moves could lead energy companies to pause investments in renewable energy projects due to the uncertain outlook for the industry, as developers face more red tape and fewer financial incentives in establishing new…

Earlier this week, Chevron completed its acquisition of Hess Corp. It was one of the largest deals in the oil and gas space in recent history, after Exxon’s takeover of Pioneer Natural Resources, finalized in 2024. With that out of the way, the question begs to be asked: could the two U.S. giants strike a deal to create a single, much bigger giant? Some argue it might only be a matter of time. Reuters’ Ron Bousso, for instance, wrote in a recent article that Exxon and Chevron are already partners in a number of projects around the world…

The arrest of two Chinese nationals in Ukraine on espionage charges this month has punctuated a shift in Kyiv’s tone toward Beijing, whose support for Russia’s war is becoming harder to ignore. Ukraine’s intelligence service on July 9 said a 24-year-old Chinese man – expelled from a Ukrainian technical school two years ago – tried to obtain classified information about the Neptune missile program by befriending a defense worker. Authorities say he intended to pass the information to his father, who was also arrested,…

Geothermal energy holds massive potential to disrupt global energy markets and provide nearly limitless and constant clean energy. Unlike solar and wind energy, which rely on climatic factors outside of human control, the heat from the Earth’s core is a steady and constant commodity. It’s just a matter of tapping into it. And the race is heating up to determine the best technological approach to do just that. Way back in 2021, Oilprice asked, “Why is the world still ignoring geothermal energy?” In the four years since that…

Despite big promises by oil majors to reduce gas flaring, the practice continues to be a major issue, contributing to high levels of greenhouse gas emissions. The International Energy Agency (IEA) and several state governments are aiming to achieve a global green transition, but decarbonising certain sectors, such as the oil industry, is proving extremely difficult. If gas flaring continues to take place, it could compromise the acceleration to green. Gas flaring is the burning of the natural gas associated with oil extraction. The practice has…

Puerto Rico’s government has pulled the plug on contract talks with New Fortress Energy after the island’s federally appointed oversight board declined to approve a proposed $20-billion LNG supply deal, upending years of negotiations and raising questions about the future shape of its energy transition. According to a report by Hart Energy, the Financial Oversight and Management Board for Puerto Rico withheld support for the contract earlier this month, citing concerns about cost, duration, and long-term fuel dependency. In response,…

President Trump kicks off his golfing holiday in Scotland this evening, and all eyes are on his diary as the trip looks set to become a hub for diplomacy.  Sir Keir Starmer will meet the US President on Monday, with the express mission of pressing for reduced tariffs on British steel.  The two leaders are set to have lunch and a bilateral meeting, though Starmer is thought to have little experience of, or interest in, golf.  White House press secretary Karoline Leavitt described the trip as a “working visit that will include…

Beacon Offshore Energy has officially started oil and gas production at its long-awaited Shenandoah field in the U.S. Gulf of Mexico, the company confirmed Friday—marking a major milestone not just for Beacon, but for the ultra-deepwater Lower Tertiary Wilcox play. Phase 1 production is expected to ramp up to 100,000 barrels per day in the third quarter. The floating production system, parked off the coast of Louisiana, has a nameplate capacity of 120,000 bpd and 140 million cubic feet of gas per day. Phase 2 is scheduled to come online by…

Beacon Offshore Energy has officially started oil and gas production at its long-awaited Shenandoah field in the U.S. Gulf of Mexico, the company confirmed Friday—marking a major milestone not just for Beacon, but for the ultra-deepwater Lower Tertiary Wilcox play. Phase 1 production is expected to ramp up to 100,000 barrels per day in the third quarter. The floating production system, parked off the coast of Louisiana, has a nameplate capacity of 120,000 bpd and 140 million cubic feet of gas per day. Phase 2 is scheduled to come online by…