OPEC Cuts Oil Demand Forecast for 2026
OPEC reduced its oil demand growth forecast for 2026 from 1.38 to 1.17 million bpd, the organization's most significant adjustment in months, with direct impact on global investment plans.
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India increases Venezuelan crude purchases to 427,000 bpd
India raises its Venezuelan crude imports to 427,000 bpd in May 2026, with Reliance Industries as the main buyer, cementing India as the largest global destination.
TotalEnergies Arctic LNG 2: Putin authorizes exit to Novatek
TotalEnergies Arctic LNG 2 moves into a new phase after Russia authorized the transfer of its 10% stake to Novatek.
API Reports Seventh Consecutive Drop in U.S. Crude Inventories
U.S. commercial crude inventories fell by 6.8 million barrels in the week ending May 29, marking seven consecutive weeks of reduction, according to the American Petroleum Institute.
Brent Hits $97 Amid Hormuz and Iran Tensions
Brent crude approaches $100 per barrel after the breakdown of negotiations between Washington and Tehran regarding the Strait of Hormuz, critical for 20% of global LNG.
Vitol: Market Underestimates the Oil Supply Crisis
Vitol warns that the market underestimates the oil supply crisis: 14 million bpd out of the market and a 4-5 million bpd drop in demand create a hidden risk.
Aramco warns that underinvestment in refining exacerbates the crisis
Aramco warns of underinvestment in refining: 3 million bpd lost and 14 million bpd from the Middle East off the market threaten global energy security.
Kuwait accelerates oil recovery after the Hormuz crisis
The Strait of Hormuz continues to shape the energy market as Kuwait accelerates the recovery of 70% of its oil production.
U.S. LNG flows fall due to maintenance at terminals
U.S. LNG flows fell to a four-month low after maintenance at Golden Pass and Freeport LNG, impacting the natural gas market.
Ksi Lisims LNG Boosts New Energy Route Between Canada and Europe
Ksi Lisims LNG strengthens European energy security after signing a supply agreement with SEFE to export Canadian gas to Germany.
ExxonMobil seeks environmental approval for Haimara in Guyana
Exxon Mobil Guyana Haimara moves toward a new development phase following the application submitted to the EPA to exploit the gas-condensate discovery.
Naphtha Sohar: ADNOC Achieves Historic Alternative Route to Asia for 2026
In April, ADNOC halted approximately 1 million metric tons per month of naphtha exports from its Ruwais refinery.