China slows down growth in global oil demand

Sep 16, 2024
A softening real estate market and the growing popularity of electric vehicles have contributed to a drop in oil consumption.
While growth in electric vehicles may shift demand away from gasoline, Ken Medlock of Rice University sees the slowdown in overall oil demand growth as temporary.
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What are sovereign wealth funds, and why are U.S. leaders interested?

Sep 9, 2024
Many countries and several states have investment funds meant to grow their wealth and boost infrastructure and other projects.
Oil has generated wealth that oil-producing countries hope will last after the resource runs out.
Joe Raedle/Getty Images

Fracking shifts U.S. oil production away from California

Sep 4, 2024
Once a leading source of oil, California produced fewer barrels of oil in June than in any month since the federal government began counting in 1981.
As fracking in places like the Permian Basin in Texas took off, California started pumping fewer and fewer barrels of oil.
Spencer Platt/Getty Images

The economic war on Russia has been a grand experiment for sanctions

Sep 3, 2024
The Kremlin has been cut off from much of the global economy by sanctions. But have they had the desired effect?
A fuel tank farm on Transneft, a Russian oil pipeline.
Natalia Kolesnikova/AFP via Getty Images

Oil prices dip but still face plenty of upward pressure

Aug 5, 2024
Recession fears blunt demand, lowering prices. But conflict in the Middle East and OPEC+ production cuts could push them up again.
Considering the global economy and geopolitics, the price of oil has remained remarkably stable, says Hugh Daigle at the University of Texas at Austin.
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The oil industry would like to know when global demand will peak. That's hard to predict.

Jul 31, 2024
An accurate estimate depends on a whole lot of variables.
Oil investors want to know when peak oil may arrive as more consumers are seeking fossil fuel alternatives.
Peter Macdiarmid/Getty Images

Why most of the world still uses the U.S. dollar to buy and sell oil

Jun 25, 2024
The scale, liquidity and stability of U.S. financial markets are partly behind the phenomenon.
Safe, liquid markets in the United States is a key reason most countries buy oil — and many other commodities — with dollars.
Frederic J. Brown/AFP via Getty Images

For public good, not for profit.

A new report says worldwide oil demand will peak in 2029. Some oil industry observers are skeptical.

Jun 13, 2024
Even if the prediction's right, Big Oil will be with us much longer.
Even if the IEA's estimate is right, petroleum will continue to be a massive industry past 2029.
Brandon Bell/Getty Images

OPEC+ will extend supply cuts — but that doesn't appear to be raising prices

Jun 4, 2024
The petroleum-producing cartel is trying to push global oil prices higher, but Americans aren't seeing an increase at the gas pump.
Gas prices in the U.S. have actually fallen 13 cents in the past month, according to AAA.
Joe Raedle/Getty Images

A fraction of oil and gas profits would fund methane emissions cuts, global energy agency says

Aug 7, 2023
IEA advises investing in facilities to reduce the potent greenhouse gas. The U.S. government is already funding such programs.
Methane, a greenhouse gas invisible to the naked eye, is one of the biggest contributors to global warming.
David McNew/Getty Images