Julianne Geiger

2 weeks ago | oilprice.com | Julianne Geiger

Crude oil inventories in the United States fell by 3.6 million barrels during the week ending June 6, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy Information Administration on positive signs from trade talks between the United States and China.

2 weeks ago | oilprice.com | Julianne Geiger

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again this week, this time by 370,000 barrels in the week ending June 6 after analysts had estimated a 700,000-barrel build. The API reported a 3.3 million barrel inventory decrease in the prior week. So far this year, crude oil inventories are up nearly 18 million barrels, according to Oilprice calculations of API data.

2 weeks ago | oilprice.com | Julianne Geiger

Russian President Vladimir Putin has extended a ban on the sale of Russian oil and petroleum products to buyers that comply with the Western-imposed price cap, pushing the restriction through the end of 2025. The decree, which first took effect in February 2023, prohibits Russian producers from exporting oil to foreign entities or individuals whose contracts include the $60 per barrel price ceiling set by the so-called Price Cap Coalition—primarily the G7 and EU nations.

2 weeks ago | oilprice.com | Julianne Geiger

Peak shale may already be behind us. U.S. crude oil production is now forecast to slip from a record 13.5 million barrels per day (bpd) in Q2 2025 to around 13.3 million bpd by the end of 2026, according to the U.S. Energy Information Administration’s bombshell June Short-Term Energy Outlook, signaling to an already price-weary industry that shale’s best days are in the rearview.

3 weeks ago | oilprice.com | Julianne Geiger

In a move that fuses domestic revival with international strategy, the Trump administration has greenlit the expansion of Montana’s Bull Mountains coal mine—unlocking nearly 60 million tons of coal destined for key U.S. allies Japan and South Korea. The approval, announced Friday by the Department of the Interior, comes under President Trump’s national energy emergency directive, signaling a bold return to coal as a cornerstone of U.S. energy policy and foreign leverage.