Ukraine
KIEV — On August 22, 2025, Ukraine struck the Unecha pumping station, a key node on Russia’s Druzhba oil pipeline, cutting off crude oil to Hungary and Slovakia for what officials warn could be a full five-day halt. Snapshot Dimension Details Event Ukrainian missile/drone strike on Unecha pumping station
USA
WASHINGTON, D.C. — The Trump administration—and the new “One Big Beautiful Bill” (H.R. 1)—has laid out an aggressive 15-year offshore leasing schedule, including at least 30 new auctions in the Gulf of Mexico (now dubbed the “Gulf of America”) and six in Alaska’s Cook Inlet. In
EIA
WASHINGTON D.C. — The U.S. Energy Information Administration (EIA) projects Brent crude prices to dip below $60 per barrel in the final quarter of 2025—and average near $50 per barrel through 2026. These are levels not seen since the pandemic-driven lows of 2020. Behind the fall: global oil
IEA
LONDON — August 13, 2025 — The International Energy Agency (IEA) has boosted its 2025 supply estimate to 2.5 million barrels per day (bpd)—up 400,000 bpd from just a month ago—thanks largely to OPEC+ revoking production cuts faster than anticipated. This expected supply is set to continue as
Donald Trump
Anchorage — The meeting between US President Donald Trump and Russian President Vladimir Putin is confirmed for August 15 in Elmendorf-Richardson, a US military installation in Anchorage, Alaska. The meeting is ostensibly about a potential ceasefire between Ukraine and Russia — but most likely it will end in an energy deal between
Africa
WINDHOEK/CAPE TOWN — TotalEnergies is planning to drill up to seven wells in South Africa’s Deep Western Orange Basin, about 211 km off Saldanha Bay. The campaign, still pending environmental approval, is slated to kick off in 2026, aiming to capitalize on Namibia’s proven oil successes across the
China
BEIJING — China’s crude oil imports increased 11.5% year-on-year in July, reaching 43.69 million metric tons, or about 10.31 million barrels per day (bpd), according to data from China's General Administration of Customs. The boost reinforces hopes of a demand rebound from the world’s
Daily updates on what’s moving the price of a barrel of oil. The Barrel Stops Here.
Riyadh — OPEC+ has agreed to double down on its market‑share push with a September output hike of ~547,000 bpd, fully reversing earlier cuts. Prices softened as traders braced for oversupply—but the world’s largest producer, Saudi Aramco, is calling for a strong second half. 🗣️ “Market fundamentals remain
NEW DELHI — A diplomatic clash is intensifying between India and the United States after President Donald Trump threatened higher tariffs on Indian goods over New Delhi’s continued purchases of Russian oil. In a sharply worded statement, India’s Ministry of External Affairs called the targeting of its energy trade
RIO DE JANEIRO — BP (British Petroleum) has hit a massive new oil and gas discovery off the coast of Brazil, calling it largest hydrocarbon find in 25 years and a potential game-changer for the energy major’s global portfolio. The discovery was made at the Bumerangue exploration well, located in
UPDATE: the EU has admitted it doesn’t have the power to deliver on a promise to invest $600 billion in the US, only hours after making the pledge at landmark trade talks — as Brussels has no authority over such private sector investment. BRUSSELS — in a landmark July 27 deal
WASHINGTON, D.C. — The Trump administration has formally authorized Chevron to restart oil production in Venezuela. As reported by the Wall Street Journal and Bloomberg, the license — granted quietly this week — allows Chevron to begin pumping crude from joint ventures with state oil company PDVSA, and export it directly to
WILLISTON, ND — July 22, 2025 — North Dakota’s shale engine, the Bakken, showed signs of strain in May as oil output fell to approx 1.113 million barrels per day (mbpd). That’s 61,000 bpd lower than April—a 5.2% monthly decline, and down 86,000 bpd (7.
WARSAW — Poland has hit oil, big time. A discovery of up to 200 million barrels of recoverable oil equivalent has been announced by Central European Petroleum (CEP) at its Wolin East 1 (WE1) well offshore in the Baltic Sea. The total resource potential on the license exceeds 400 million barrels,
LONDON — July 18, 2025 — In a striking shift, BP (British Petroleum) has announced it is selling off its entire U.S. onshore wind power business, signaling a strategic return to oil and gas as the core of its future growth. The deal includes 10 wind farms across the U.S.
BRUSSELS — the European Union has set the Russian oil price cap to roughly $47.60 per barrel, setting it dynamically at 15% below market rates (so between $45-$50) — aiming to squeeze Kremlin revenues without halting flows altogether. 🗣️ "Done! This morning, we Europeans have adopted unprecedented sanctions against Russia
Washington D.C. — the latest economic data from the world’s two biggest economies is putting oil back in the spotlight: * China is burning through more crude than it has in over a year * while U.S. stockpiles just saw another steep drop And now, Donald Trump is weighing in
Erbil, Kurdistan — an estimated 150,000-200,000 barrels per day of oil has been shutdown after a wave of drone attacks on oil facilities in Iraq’s Kurdistan oil sector. 🗣️ “The Kurdistan Region has lost nearly 200,000 b/d after drone attacks by criminal militias on Baghdad’s payroll.
WASHINGTON, D.C. — U.S. net energy imports in 2024 fell to their lowest level since the early 1980s, according to the U.S. Energy Information Administration (EIA). The sharp decline reflects surging domestic output, declining reliance on OPEC, and a near-doubling of imports from Canada — reinforcing America’s status
