US Interior Secretary Burgum says spoke with energy companies about upping oil production
Newsquawk Staff ·
US Interior Secretary Burgum says spoke with energy companies about upping oil production.
What it means
The comments from US Interior Secretary Burgum regarding discussions with energy companies on increasing oil production highlight a potential shift in U.S. energy policy, particularly amidst ongoing global supply concerns. This could lead to upward pressure on oil prices if these discussions translate into concrete production increases, impacting both WTI crude and related commodities markets.
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
Related headlines
- Equinor (EQNR NO) CEO says what happens in the Middle East determines the price of oil, refined products and gas; hopes that Britain will approve the Rosebank oilfield6 hours ago
- Russia and Azerbaijan are discussing natural gas swap supplies, reports Interfax1 hour ago
- US EIA Heating Oil Stocks Change (Oct/23) 0.164M (Prev. 0.652M)22 min ago
- US EIA Crude Oil Imports Change (Oct/23) -0.796M (Prev. 0.837M)22 min ago
- EIA Cushing Crude Oil Stocks Change (Oct/23) -0.624M (Prev. 0.987M)22 min ago
- US EIA Refinery Crude Runs Change (Oct/23) -0.123M (Prev. 0.034M)22 min ago
- US EIA Crude Oil Stocks Change (Oct/23) -1.892M vs. Exp. 0M (Prev. -3.061M); SPR falls 0.1mln to 282.6mln22 min ago
- EIA Expectations: Crude +0.35M, Distillate -0.63M, Gasoline -1M37 min ago
- US EQUITY OPEN: Indices rangebound ahead of FOMC and major earnings42 min ago
- PREVIEW: BoC Rate Decision and Governor Statement due Wednesday 28th October, 2026 at 13:45GMT/09:45EDT1 hour ago
- Al-Mayadeen correspondent in Iran says Iranian officials believe that Trump wants to bring the nuclear issue into the negotiations, which Iran rejects1 hour ago
- Ukrainian President Zelensky says negotiations between Ukraine, Russia and the US could take place as early as November 10th1 hour ago
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats1 hour ago
- Satellite imagery indicates significant damage to the main refining unit at Saudi Arabia's Ras Tanura (550k BPD) refinery following a strike by Yemeni armed forces, leaving the unit inoperable, Fars reports2 hours ago
- Israeli election results show Netanyahu's bloc with 53 seats, Eisenkot's bloc with 47 and Arab parties with 19, following the counting of all votes excluding double-envelope ballots, i24 reports2 hours ago