The latest Weekly Petroleum Status Report from the U.S. Energy Information Administration (EIA), released on February 19, 2026, reveals a significant drawdown in U.S. crude oil inventories for the week ending February 13, 2026. Commercial crude oil stocks fell by 9.0 million barrels to 419.8 million barrels, a stark reversal from the previous week\’s […]
Continue ReadingJack Prandelli of The Merchants News Substack stopped by, and we had a blast visiting about huge changes in the oil and gas markets. At the end of the podcast, we also discuss how we should restructure electricity prices for consumers. 1. China’s efforts to reduce its reliance on the US dollar: – China is […]
Continue ReadingIn the heart of Canada\’s oil country, a simmering discontent is boiling over. Albertans, often affectionately dubbed \”Snow Texans\” by their southern counterparts due to shared rugged individualism, cowboy culture, and deep roots in the oil and gas industry, are increasingly vocal about charting their own path. This isn\’t just barroom talk—recent developments, including a […]
Continue ReadingIn the latest weekly update from Baker Hughes, the U.S. oil and gas rig count remained unchanged at 551 for the week ending February 13, 2026. This stability comes after three consecutive weeks of increases, with the total now sitting 37 rigs—or about 6%—below the level from the same period last year. Specifically, oil rigs […]
Continue ReadingThe energy sector has been buzzing with optimism lately, as oil stocks have surged by approximately 21% over recent months amid stabilizing crude prices, geopolitical tensions, and renewed demand forecasts. This rally, driven by factors like OPEC+ production adjustments and global economic recovery signals, has investors eyeing opportunities in both public and private oil and […]
Continue ReadingIn a landmark visit marking the highest-level U.S. energy-focused trip to Venezuela in nearly three decades, U.S. Energy Secretary Chris Wright met with interim President Delcy Rodríguez and oil executives in Caracas. The February 2026 trip comes amid the Trump administration\’s efforts to revitalize Venezuela\’s beleaguered oil sector following the capture of former President Nicolás […]
Continue ReadingIn the evolving landscape of global energy, the United States is positioning itself as a powerhouse not just through domestic production but via strategic international expansions. With President Trump\’s administration reshaping trade deals and forging new alliances, U.S. oil majors like ExxonMobil and Chevron are seizing opportunities in OPEC and OPEC+ nations. This shift marks […]
Continue ReadingIn the ever-volatile world of global energy markets, January 2026 brought a notable dip in OPEC\’s crude oil production, largely attributed to political upheaval in Venezuela. According to recent surveys, the Organization of the Petroleum Exporting Countries (OPEC) pumped an average of 28.83 million barrels per day (bpd), marking a decline of 230,000 bpd from […]
Continue ReadingIn a landmark move shaking up the U.S. shale industry, Devon Energy Corporation (NYSE: DVN) and Coterra Energy Inc. (NYSE: CTRA) have announced an all-stock merger valued at approximately $58 billion in combined enterprise value. The deal, unveiled on February 2, 2026, aims to forge a premier shale operator with enhanced scale, diversified assets, and […]
Continue ReadingThe global energy crisis has exposed vulnerabilities in supply chains, driving up prices and underscoring the fragility of overreliance on imports. Energy security, once a secondary concern, is now a cornerstone of national policy, ensuring stable access to affordable resources amid disruptions. Countries are turning inward, ramping up domestic production to shield economies from external […]
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