The U.S. Lost Control Of This Giant Iraqi Oilfield.

Crude oil prices fell after the EIA reported an oil inventory build of 3.3 million barrels
The authority also reported mixed results in gasoline and middle distillates

The price of oil has climbed to multi-year highs, and oil companies are raking it in.

There is still plenty of upside for oil prices from here as demand is on course to outstrip supply throughout the rest of the year
Plenty of analysts are now preparing for $100 oil, with demand destruction unlikely to occur at current prices
Despite the inflationary impact of rising oil prices, it is unlikely that markets will be driven into a recession

ExxonMobil posts strongest net profit in 7 years
Upstream misses expectations
Strong downstream and natural gas sales lead to record free-cash-flow

Biden: The refusal of OPEC+ to increase crude oil production is affecting America's working class
Energy Secretary Jennifer Granholm blames OPEC+ for high crude prices

California’s oil industry provides a major source of revenue for the state and creates a huge number of jobs, but that won’t stop the state’s governor from phasing it out

Oil and gas prices have seen a bit of a correction over the last few days
Implied crude demand fell w/w for all products except jet fuel, with the key mismatch being between total crude inventories and inventories at the WTI pricing hub in Cushing, Oklahoma

While oil and gas companies come under pressure to reduce production, the world’s thirst for new supply is only growing

Saudi Oil Minister: OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices

Though the global energy crunch is not impacting the United States as much as its European and Asian counterparts, it will have an impact on Permian producers.

The IEA has predicted that Canada’s oil production will begin to decline at the end of this decade, but not before the country increases its production by up to 700,000 bpd