Oil Prices Sink As EIA Confirms Surprise Inventory
by Julianne Geiger on September 4, 2025 at 4:22 pm
Crude oil inventories in the United States increased by 2.4 million barrels during the week ending August 29, after falling 2.4 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 420.7 million barrels according to government data, which is 4% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil inventories…
U.S. Breaks LNG Export Record in August
by Andrew Topf on September 4, 2025 at 4:00 pm
The United States exported more liquefied natural gas in August than in any other previous month, preliminary data from financial firm LSEG showed. August exports reached 9.33 million tonnes, beating the previous monthly record set in April of 9.25Mt. The higher volumes were due to the cessation of maintenance programs, and as Venture Global’s Plaquemines facility continued to increase output, Reuters stated. While still under construction, Plaquemines is the second-largest LNG plant in the US with a capacity of 27.2 million tons per…
India–UAE LNG Pact Becomes Pillar of U.S. Counter-China Strategy
by Simon Watkins on September 4, 2025 at 3:00 pm
U.S. President Donald Trump knew back in his first term in office that there was a high probability that Iran could not be reasoned out of its nuclear ambitions nor sanctioned out of them either. It was clear to him, according to senior legal and security sources exclusively spoken to at the time by OilPrice.com, that direct action would have to be taken at some point to remove the most immediately threatening facilities related to its nuclear activities. And it was also apparent that Israel – which faced literal extinction from such a threat…
CNOOC Starts Up Another Oil Project in South China Sea
by Charles Kennedy on September 4, 2025 at 2:30 pm
CNOOC Limited has launched oil production at the Wenchang 16-2 Oilfield Development Project in the northern part of the South China Sea, China’s top offshore oil and gas producer said on Thursday. CNOOC, which specializes in offshore oil and gas developments in China and internationally, launched production of light crude from the project in the western Pearl River Mouth Basin, which sits at an average water depth of about 150 meters (492 ft). The development of the project uses the existing facilities of the Wenchang Oilfields, as well as…
China Tackles Price Wars as Bloated Solar Sector Amasses Huge Losses
by Michael Kern on September 4, 2025 at 2:30 pm
China has launched in earnest the drive to curb excess capacity in the solar manufacturing sector, which has doomed many companies to price wars and deepening losses. The combined losses of six of China’s biggest solar panel and cell manufacturers doubled in the first half of 2025, to $2.8 billion (20.2 billion Chinese yuan), from the same period last year, the Financial Times reports, citing data from local financial information provider Wind. All top Chinese solar equipment producers had already booked losses for…