Canada's Trans Mountain oil pipeline will be nearly entirely full for the month of April, a milestone that marks a utilization record for the conduit since its C$34 billion expansion was completed last year. The 890,000-barrel-per-day pipeline, which carries oil from the province of Alberta to British Columbia's west coast, is running near maximum capacity, said Trans Mountain CEO Mark Maki. Disruptions to Middle East supply due to the Iran war have increased demand for Canadian oil from [Read more]

White House press secretary Karoline Leavitt on Wednesday said the United States is tracking "very closely" how to get oil tankers through the Strait of Hormuz. "As far as tankers through the Strait, it's something we're tracking very closely," Leavitt told reporters about the key shipping lane near Iran. However, the press secretary said there is no "specific timeline" on when the tankers could move freely. "We're going to see prices at the pump go back down," Leavitt added, arguing the [Read more]

Iran's parliament speaker, Mohammad Baqer Qalibaf, said on Wednesday that intelligence suggests "enemies" are planning to occupy an Iranian island with support from a regional country which he did not name. "Iranian forces are monitoring enemy movements and if they take any step, we will attack vital infrastructure in that regional country in continuous and relentless attacks," he said in a post on X. (Reporting by Jaidaa Taha Editing by Ros Russell) [Read more]

Venezuela's oil production, including condensate and gas liquids, has reached 1.1 mln barrels per day in March, a government presentation citing figures from state oil company PDVSA showed on Wednesday. The figure was an increase from January, when production was 942,000 bpd, the presentation, shared by acting President Delcy Rodriguez during a virtual appearance at a conference in Miami, showed. Production of gasoline and diesel by the South American country reached 166,700 bpd in 2025, [Read more]

U.S. shale producer Devon Energy will not react quickly to the jump in oil prices and will instead focus on long-term price signals, its CEO Clay Gaspar said on Wednesday at the CERAWeek energy conference in Houston. Here are some details: * "We will not be oversteering on near-term signals," Devon CEO Clay Gaspar said on the sidelines of the conference, nor will it react to front-month prices, he added. * Front-month U.S. crude futures traded as high as $119 a barrel on March 9, [Read more]

Iraqi oil production has slumped as the Iran war rages, with storage tanks reaching high and critical levels while the country is unable to export crude via the Strait of Hormuz, three Iraqi energy officials said on Wednesday. Output from Iraq's main southern oilfields has further fallen by about 80% to around 800,000 barrels per day (bpd), the officials added. Earlier this month, Iraqi oil production from its main southern oilfields had already fallen by about 70% to around 1.3 million [Read more]