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US oil output fell the most in 2 years during January winter storm, EIA data shows

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U.S. crude oil output fell by the most in two years during January following a severe winter storm that knocked production offline in large swathes of the country, data from the Energy Information Administration showed on Tuesday. U.S. crude oil output fell 410,000 barrels per day month over month in January to 13.25 million bpd, the lowest since February 2025, the EIA data showed. Total U.S. crude oil and petroleum products consumption, meanwhile, fell 201,000 barrels per day to 20.7 [Read more]

US warns Americans in Saudi Arabia to shelter in place after threats

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The State Department said on Tuesday it was monitoring threats to Americans in Saudi Arabia and warned all U.S. citizens in the country to shelter in place. "We are tracking reports of threats against locations where American citizens gather," the U.S. Embassy in Saudi Arabia said in a travel advisory. "We advise U.S. citizens that hotels and other gathering points including U.S. businesses and U.S. educational institutions may be potential targets." The embassy asked Americans to [Read more]

The Montney is driving all of Canada’s natural gas growth – StackDX Intel

Canada's natural gas production has been rising as of late, surpassing 20 BCF/d late in 2025. Unsurprisingly, much of that increase has been driven by the Montney, which has accounted for nearly all of the recent production growth. Data over the last 5 years shows this trend as Montney volumes have gone from 45% of total Canadian gas production to 55%. During that period, Montney volumes rose from roughly 7 BCF/d to 11 BCF/d, while non-Montney volumes hovered around 9 BCF/d. These figures [Read more]

US oil heads to Greece for first time in four years as refiners look for alternatives to Middle East crude 

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A cargo of WTI Midland crude headed to Greece for the first time in about four years, ship tracking data on Kpler showed, as U.S. and Israel's war on Iran and reduced traffic through the Strait of Hormuz have upended trade flows and shut in output in the region. Isle of Man-flagged medium-sized tanker Eagle Helsinki loaded about 700,000 barrels of WTI Midland, the flagship U.S. light sweet crude, at Seabrook Logistics terminal in Houston and was anchored at Agio Theodoroi, Greece, close to [Read more]

Edison says Qatar still evaluating impact of Iran attack on LNG supply

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QatarEnergy has yet to update its liquefied natural gas (LNG) customers on the impacts of recent attacks on its gas plants, Edison CEO Nicola Monti said on Tuesday. Monti said a pause in LNG supply until mid-June, which QatarEnergy notified the Italian utility of last week, was mainly due to the shipping blockade in the Strait of Hormuz. But the consequences of Iranian attacks on Qatar LNG plants, which QatarEnergy's CEO told Reuters earlier this month had knocked out 17% of its LNG export [Read more]

Chevron Announces Senior Leadership Changes

HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE:CVX) today announced leadership updates that reflect the company’s continued focus on strong operational performance and safety.   Chevron has appointed Daniel Woodall as Chief Health, Safety and Environment (HSE) Officer, effective May 1, 2026. In this role, Woodall, 49, will lead Chevron’s enterprise-wide strategy to protect people, communities and the environment while supporting safe and reliable operations across the global [Read more]

Unlike 2022, central banks to diverge if energy shock deepens: McGeever

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The last time the world faced a sudden surge in inflationary pressures from a severe supply shock and spiking energy prices, in 2021-22, major central banks responded in unison. That's unlikely to happen this time around. Five years ago, pandemic-related supply disruptions kicked off a unified - if belated - interest rate-hiking cycle among the world's biggest central banks that sped up in the face of sky-rocketing energy prices triggered by Russia's invasion of Ukraine in February, [Read more]

Suncor Energy increases shareholder returns, publishes 2026 Investor Day presentation; files contingent resources report

All financial figures are in Canadian dollars, unless noted otherwise. Calgary, Alberta--(Newsfile Corp. - March 31, 2026) - Suncor Energy (TSX: SU) (NYSE: SU) published its 2026 Investor Day presentation which outlines a new 3-year improvement plan. As a result, Suncor is increasing its annual share repurchases by over 20% to a revised projection of $4B for 2026. Investor Day Highlights: $2 billion increase in normalized free funds flow by 2028 US$5 per barrel reduction in [Read more]

Suncor raises 2026 buyback plan to $2.87 billion

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Canadian oil sands producer Suncor Energy on Tuesday announced a more than 20% increase in its annual share repurchase plan to C$4 billion ($2.87 billion) for 2026. It also estimated roughly 400,000 barrels per day of future production capacity at an average cost of C$30,000 per flowing barrel. The company said it expects upstream production to grow by about 100,000 barrels per day by 2028 and plans to lift refining network nameplate capacity by 10% to 511,000 barrels per [Read more]