The IEA’s shocking call for no new oil and gas exploration on the path to net-zero emissions doesn’t necessarily follow that demand through to its logical end game. A line-up of countries would descend into chaos, creating global instability that would itself threaten the climate by hindering a natural energy transition.

Iran’s Goreh-Jask oil pipeline is due to ship its first crude oil in June, with all construction having finished last week. This pipeline will enable Iran to transport huge quantities of oil from its major oil fields via Goreh in the Shoaybiyeh-ye Gharbi Rural District of Khuzestan Province 1100 kilometres to the port of Jask in Hormozgan province on the Gulf of Oman.

Oil prices have generally been trending higher over the past few months as the demand outlook for the commodity improved amid mass vaccination efforts. This week, however, benchmarks have experienced a rare moment of stability.

Goldman Sachs still expects crude oil to rise to $80 per barrel by the end of the year despite reports about progress on U.S.- Iranian talks about the lifting of sanctions.

Global oil demand is recovering with major economies reopening amid a cautious supply approach from OPEC+ and restraint in U.S. shale, Barclays said on Friday.

(Bloomberg) --China is set to extend its dominance in the global oil market as planned tax adjustments spark a chain reaction, prompting processors to boost crude imports and raise refinery run rates.

Unlike in the previous downturn in 2015-2016, U.S. shale producers are exiting the 2020 oil price and demand collapse with their promises intact to rein in production growth and return more cash to increasingly demanding shareholders.

As restrictions ease across Europe, we are slowly seeing a resurgence in fuel demand for travel, not only in gasoline and diesel but also in jet fuel as travel and tourism gradually pick up.

By early April 2021, striking healthcare workers demanding higher wages as they managed Argentina’s COVID-19 crisis, were blockading the sprawling Vaca Muerta shale oil and gas deposit in Neuquen. That province is at the heart of Argentina’s hydrocarbon sector - pumping over a third of Argentina’s total crude oil production and half of its natural gas.

An immediate halt to oil exploration is one of the steps that need to be taken in order for the world to reach Paris Agreement climate change commitments. That’s what the International Energy Agency said in a first-of-its-kind roadmap to net zero.

Crude oil prices moved further down today after the Energy Information Administration reported a crude oil inventory build of 1.3 million barrels for the week to May 14.

The International Energy Agency, which has stepped up its efforts to become a major green energy supporter, appears to have forgotten the reason it was set up as an agency in the first place. In its new report “Net Zero in 2050”, the energy agency calls for no new investments in oil- and gas-related projects.