News

Daily news and original analysis on the Cyprus and Eastern Mediterranean oil & gas sector.

All ENI ExxonMobil TotalEnergies Shell Chevron Aphrodite Glaucus
OilPrice·May 5·1 min read

U.S. Oil Can’t Fill the Middle East Supply Hole

The United States is exporting record amounts of crude oil (5.2 million barrels daily since April) to compensate for disruptions in Middle Eastern supply. This surge in U.S. exports highlights its rol

UAE’s Shock Exit Leaves OPEC Weakened and the Global Oil Order Rewritten

The United Arab Emirates (UAE) has reportedly left OPEC, reducing the organization's membership to 11. This departure could weaken OPEC's influence on global oi

OilPrice·May 5

API Confirms Very Large Crude and Oil Product Draws

The American Petroleum Institute (API) reported a substantial crude oil inventory draw of 8.1 million barrels for the week ending May 1st, significantly exceedi

OilPrice·May 5

Venezuela’s Oil Rebound Shows Why the Petrodollar Is a Logistics System

The article highlights that Venezuela's oil exports are resuming, not due to a revitalized industry, but because the logistical and financial mechanisms necessa

OilPrice·May 5

Oil Falls as Ceasefire Holds

Oil prices decreased as a ceasefire held, easing concerns about potential supply disruptions. The market had previously priced in a risk premium due to heighten

Rigzone·May 5
May 5

Norway Just Switched on Another Gas Lifeline for Europe

May 5

US Senators Push to Reinstate Russian Oil Sanctions

May 5

ConocoPhillips Beats Profit Estimates for Q1

May 5

Valaris’ batch of rig deals lifts total contract backlog to $4.9 billion

May 5

INEOS, Shell to develop Gulf of Mexico oil and gas prospects

May 5

UAE Was in a Unique Position in OPEC+

May 5

Transocean Posts Higher Q1 Revenue

May 5

Gasoline Prices Jump Across All 50 States

May 5

Petrobras, Shell, TotalEnergies, and Petrogal formalize production split for Brazilian oil field duo

May 5

Shell and Kosmos put US Gulf hydrocarbon prospect on their 2027 drilling agenda