As the US aims to decouple from Chinese supply chains by doubling down on its domestic oil and gas resources, industries such as offshore wind have faced a barrage of economic challenges, from stop-work orders, to tax break rollbacks and rising inflationary costs. Despite unfavorable conditions in the US, Rystad Energy research shows new global offshore wind capacity will reach 16 gigawatts (GW) by the end of 2025 due to projects already underway, with two thirds of them being developed in China. By 2030, Rystad Energy forecasts China’s offshore…

The United States is on track to break yet another oil production record this year, but the Energy Information Administration (EIA) says the resulting supply glut could drag prices lower in the months ahead. In its October outlook, the EIA raised its forecast for U.S. crude production to 13.53 million barrels per day (bpd) for 2025, up from a forecast of 13.44 million bpd previously. That’s well above last year’s record 13.23 million bpd and reflects stronger-than-expected output in July, along with faster ramp-ups from new offshore…

The United States is on track to break yet another oil production record this year, but the Energy Information Administration (EIA) says the resulting supply glut could drag prices lower in the months ahead. In its October outlook, the EIA raised its forecast for U.S. crude production to 13.53 million barrels per day (bpd) for 2025, up from a forecast of 13.44 million bpd previously. That’s well above last year’s record 13.23 million bpd and reflects stronger-than-expected output in July, along with faster ramp-ups from new offshore…

A few years ago, clean hydrogen in Europe seemed stuck in ambition. Targets were bold, but execution was thin. That’s changing fast, thanks to a smart new mechanism that tackles one of hydrogen’s toughest challenges: bridging the cost gap between low-carbon hydrogen and fossil-derived alternatives. Auctions that de?risk and prioritize The European Hydrogen Bank operates via competitive auctions under the Innovation Fund. Producers bid on a fixed-premium subsidy per kilo of hydrogen for up to ten years. Only projects with credible offtake…

The U.S. is entering the winter heating season with healthy propane inventories—an encouraging signal for weather-driven energy markets. According to the Energy Information Administration, stocks are at about 103 million barrels in mid-October, about 13 million barrels above the five-year average for this time of year. The EIA said propane gas-plant production was up about 5% in the first seven months of 2025 compared with the same period in 2024. Propane spot prices at Mont Belvieu averaged about $0.70 per gallon in late September, roughly…

Via Metal Miner The Raw Steels Monthly Metals Index (MMI) remained sideways, with a modest 0.82% rise from September to October. U.S. Steel Prices Remain in Search of a Bottom U.S. steel prices continued to soften throughout September as they entered Q4 in search of a new low. Based on their October 3 close, HRC prices have now unraveled $80/st from their late March peak, leaving them sitting at their lowest level since February.  While they remained somewhat slow, the second and third quarters showed largely steady bearish momentum across…

Russian forces struck several sites across Ukraine, including a medical facility in the northeastern city of Sumy, after Kyiv carried out a massive drone attack on Russia's Belgorod region, knocking out power to thousands of homes. Oleh Hryhorov, the head of the Sumy regional military administration, said on October 6 that 166 people, including 11 children, were in the medical facility at the time of the attack. According to preliminary reports, there were no casualties. Andriy Yermak, the head of Ukraine's Presidential Office, gave further details,…

Argentina’s prized shale basin Vaca Muerta, once hailed as the key to transforming the country into a global energy exporter, is now facing a period of stagnation and uncertainty. Lower oil prices, rising costs, and policy constraints have slowed drilling and fracking, raising questions about whether the formation can deliver the government’s ambitious export goals. According to Reuters, drilling and fracking activity in Vaca Muerta — the world’s fourth-largest unconventional oil reserve — has begun to plateau, with…

Argentina’s prized shale basin Vaca Muerta, once hailed as the key to transforming the country into a global energy exporter, is now facing a period of stagnation and uncertainty. Lower oil prices, rising costs, and policy constraints have slowed drilling and fracking, raising questions about whether the formation can deliver the government’s ambitious export goals. According to Reuters, drilling and fracking activity in Vaca Muerta — the world’s fourth-largest unconventional oil reserve — has begun to plateau, with…

Chevron’s El Segundo refinery in California is producing fuels at reduced rates following last week’s massive fire, the supermajor said on Tuesday, adding it is working to restart units that were shut down after the incident. Following an explosion of a yet-to-be-determined nature, a large fire broke out on Thursday night at Chevron’s 280,000-bpd refinery in El Segundo in the Los Angeles area. The fire was later contained, the police in El Segundo said, adding there wasn’t a call for residents to evacuate. “The refinery…

A newly released report by ChargerHelp! shows that while 64% of Americans now live within two miles of an electric vehicle charging station, nearly one-third of charging attempts fail. Despite charging infrastructure showing 98.7% to 99% uptime rates, only 71% of charging attempts actually succeed, according to the 2025 EV Charging Reliability Report. The report analyzed more than 100,000 sessions across 2,400 chargers. The report argues that instead of focusing on site uptime statistics, the first-time charge success rate (FTCSR) provides…

Alberta Premier Danielle Smith is negotiating with the federal government and Prime Minister Mark Carney on the newly proposed oil pipeline from the oil-producing province to the West Coast. Smith and Carney met in Ottawa on Monday as the Alberta Premier was arriving in the capital for meetings while the federal PM was departing for talks with U.S. President Donald Trump in Washington D.C. Smith and Carney discussed energy opportunities and Carney said that Alberta and the federal government have a lot to talk about how they could cooperate to…

Sub-$70 oil is squeezing margins, forcing Exxon, Chevron, and BP to rethink $100 billion in annual returns. Dividends to Dry Up as Sub-$70 Crude Squeezes Supermajors - Amidst fears of oversupply and tariff-impacted demand slowdown, global oil majors are widely expected to start cutting their shareholder payouts as sub-70 oil prices loom large over the horizon.- Most majors need oil prices above $80 per barrel to sustain current levels of dividends and share buybacks, with France’s TotalEnergies already flagging that it will reduce buybacks…

The EU plans to impose sanctions on three companies that have provided false flags to tankers of the Russian shadow fleet, Bloomberg reported on Tuesday, citing documents it has reviewed.  The companies have provided false flags of Aruba, Curacao, and Sint-Maarten to at least eight tankers sanctioned by the EU, according to the documents.   The potential sanctions against the entities enabling the shadow fleet are part of the European Union’s 19th sanctions package, which the EU member states are currently discussing. …

The Armenian government is playing the field in search of the best deal to construct a new nuclear power plant to replace the aging Metsamor facility. Prime Minister Nikol Pashinyan announced during a question-and-answer session in parliament that negotiations are ongoing with several nations. He added that the government had already decided that Metsamor’s replacement will be a “small modular” reactor. “Now the next question is: with whom will we build, with whom will we cooperate?” he said. Pashinyan went…

Ukraine has discussed with G7 countries additional natural gas imports as it seeks to boost imports by 30% to offset the damage from Russian strikes on its gas infrastructure, Ukrainian Energy Minister Svitlana Grynchuk said on Tuesday.  In recent weeks, Russian strikes have caused “significant” damage to the gas production capacity of Ukraine, the minister told reporters during a briefing in Kyiv, without providing details.  On Monday, Grynchuk wrote on Facebook that Ukraine continues to communicate with partners on strengthening…

OPEC+ yesterday agreed to yet another monthly boost in production, this time for a modest 137,000 barrels daily. Oil prices inched up, yet they remain tightly range-bound, with Brent at just over $65 per barrel following the news. On the one hand, this is good news for consumer countries—including the U.S. On the other hand, it’s bad news for producer countries—including, again, the U.S. The Wall Street Journal called Saudi Arabia’s strategy of leading the production cut unwinding a gift to President Trump. It would keep…

Back in January, a massive fire ripped through Vistra Corp’s (NYSE:VST) giant battery storage facility in Moss Landing in Northern California, leading to the evacuation of hundreds of people after toxic fumes polluted the air. While the cause of the fire is still under investigation, a key factor that has so far been identified is the failure of the fire suppression system, which allowed the fire to spread rapidly. The building that housed 300 megawatts of battery capacity was completed five years ago, around the time the U.S. utility scale…

The foundation stone for the re-entry of several major Western energy firms into Iraq was the US$27-billion four-pronged mega-project finally ratified by France’s TotalEnergies in 2023. The project was particularly aimed at addressing two critical issues that had dogged Iraq’s development for decades and whose resolution had been stymied by bureaucracy and corruption at senior levels across several governments in Baghdad, as analysed in full in my latest book on the new global oil market order. One of these crucial issues was dramatically…

Markets carried their momentum into the third quarter of 2025, even as political uncertainty and softer labor data kept investors cautious.  The S&P 500 advanced 7.8% in Q3, a solid showing that reflected both moderating inflation and rising expectations for Federal Reserve rate cuts. For income and defensive investors, the period was constructive: dividend-paying sectors once again demonstrated resilience, while more cyclical industries delivered some of the strongest gains. Across sectors, the rotation toward cyclical and commodity-linked…