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Oil Price Outlook: Why WTI, Brent Could Rally 10% by Summer, BofA Says

Bank of America predicts Brent and WTI peaking around $95 per barrel in summer, a roughly 10% jump from current levels. ....

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Series of Bad Decisions: Biden Refills Strategic Petroleum Reserve at Cost for US Taxpayers

Team Biden is doing damage control ahead of the election by hastily refilling the Strategic Petroleum Reserve (SPR). Alas, it is coming at a cost for American taxpayers as the administration is purchasing crude at twice the historic average, Just the News says. ....

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Here's How Much Oil the US Is Buying to Refill Emergency Reserves

The Energy Department issued a solicitation for 3 million barrels of oil for March 2024, as emergency stockpiles remain near 40-year lows. ....

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More Oil Supertankers Than Ever Head for US to Load up on Crude for Export

A record-high 48 oil supertankers are making their way to the US, according to data compiled by Bloomberg. ....

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Chevron Hess Buyout: US oil giant Chevron to buy rival Hess for USD 53 bn, ET Auto

Chevron Hess Buyout: US energy giant Chevron will buy its rival Hess for USD 53 billion in an all-stock deal, the companies announced in a joint statement on Monday. Chevron s deal values Hess s equity at USD 53 billion, while the total enterprise value of the transaction, including debt, is USD 60 billion, according to the statement. ....

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