Devon Energy spent $2.5B on federal land leases in New Mexico and Texas, driving a record $4B auction by the BLM. Devon Energy secured $2.5 billion in drilling rights during a U.S. Bureau of Land Management auction, pushing total sales to a record $4 billion. The auction c
The U.S. contributed 172 million barrels to a 400 million-barrel IEA reserve release, tightening oil supply buffers amid geopolitical risks. The U.S. has committed 172 million barrels to a 400 million-barrel Strategic Petroleum Reserve release by IEA members, the largest c
U.S. crude oil plunges on U.S.-Iran optimism Crude oil futures fell significantly as hopes for a deal between the U.S. and Iran raised expectations for Middle East stability. The decline in crude prices was also driven by the successful exit of three supertankers from
Supply disruptions in the Strait of Hormuz have reduced global LNG flows by a fifth and erased 1 billion barrels of crude oil since March. Global LNG flows have dropped by roughly 20% due to the ongoing crisis in the Strait of Hormuz, disrupting energy markets. Cumulative
Norwegian offshore oil production significantly exceeded expectations in April, with total liquids output climbing to 2.158 million barrels per day — 6.7% above official forecasts — as Europe grows increasingly dependent on a stable North Sea energy supply in an increasingly...</
March shipments fell 31.6% month-on-month, the lowest since JODI began tracking data, amid a sharp drop in production. Saudi Arabia’s crude oil exports plunged to 4.974 million barrels per day in March, a record low since data tracking began. The 31.6% month-on-month decli
A Bloomberg article revealed that US crude stockpiles plunged, as Oil exports began to empty domestic supply inventories. The Middle East conflict increased demand for Oil produced in the US, triggering a decline of 17.8 million barrels, its lowest level in nearly a year,
Nigeria is actively increasing its crude oil production in response to major global supply disruptions caused by the ongoing war in Iran, with authorities now aiming to raise output by 100,000 barrels per day (bpd) in the immediate term to capture widening supply gaps. Dat
Valero, Marathon Petroleum, and Phillips 66 near entry points as crude prices rise amid Strait of Hormuz closure tightening global inventories. Valero Energy (VLO), Marathon Petroleum (MPC), and Phillips 66 (PSX) have reached buy points this week as oil prices hover near $
Beyond Oil Ltd. reported $1.26 million in 1Q26 revenue, up 24% y/y, driven by US foodservice expansion and strategic accounts. Beyond Oil Ltd. (BOIL/BEOLF) reported $1.26 million in first-quarter revenue, a 24% year-over-year increase from $1.01 million, maintaining a ~$5.
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