The International Energy Agency (IEA) has revised upward its forecast for global oil demand in the last quarter of 2024, primarily due to colder winter conditions in many regions of the Northern Hemisphere, but it does not foresee supply shortages
OPEC, in a monthly report, said demand will rise by 1.43 million barrels per day in 2026, a similar rate to the growth of 1.45 million bpd expected this year. The 2026 prediction is OPEC’s first in its monthly report
Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new US sanctions on Russian producers and ships curb supplies to Moscow’s top customers
The United States announced widespread sanctions against Russia’s energy sector, designating more than 180 ships and two major oil companies just days before outgoing President Joe Biden leaves office
The number of fracturing stages totaled 17,796 throughout 2024 in Vaca Muerta. This figure surpasses the previous record set in 2023 by 20.6%, which saw 14,747 fracturing stages
Argentina consolidated a surplus in its energy trade balance last November, driven by a significant increase in hydrocarbon exports and a drop in fuel imports, according to official sources
U.S. President-elect Donald Trump said that the European Union, already the biggest buyer of U.S. energy, should step up U.S. oil and gas imports or face tariffs on the bloc’s exports
Oil prices settled higher after U.S. crude inventories fell and the U.S. Federal Reserve cut interest rates as expected, but gains were capped as the Fed signalled it would slow the pace of cuts
The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said, even after producer group OPEC+ extended oil supply cuts and a slightly higher than expected demand forecast
OPEC cut its 2024 global oil demand growth forecast for a fifth straight month and by the largest amount yet, a series of downgrades that highlights China’s sputtering role as the world’s demand growth engine
