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US CRUDE OIL IMPORTS FROM NIGERIA ROSE LAST WEEK TO HIGHEST SINCE OCTOBER 2019 - EIA #OOTT

Are we looking at an Angola-style exit here?

Strathcona’s surprise MEG Energy bid energizes Canadian oil M&A. Despite U.S. tariffs raising drilling costs, Tourmaline, Ovintiv, and others keep budgets intact. LNG Canada’s imminent startup adds more upside. oilprice.com/Energy/Crude-O…

*NUSCALE WINS US APPROVAL FOR SMALL NUCLEAR REACTOR DESIGN *US NUCLEAR REGULATORY COMMISSION APPROVS 77MW NUSCALE REACTOR

China’s top refiners are ramping up fuel exports to offset weak domestic demand. Gasoline & diesel margins are rebounding despite sluggish consumption at home. Diesel exports lead May volumes, with gasoline shipments to Singapore holding strong. oilprice.com/Latest-Energy-…

Oversupply looms over oil markets into 2026. IEA sees global supply exceeding demand by up to 1.2 mbpd. U.S. shale remains resilient—13.46 mbpd forecast for 2025—even as frac spreads fall. Prices could stay “lower for longer.” oilprice.com/Energy/Energy-…

No breakthrough in U.S.-Iran nuclear talks in Rome. Tehran rejects U.S. demand to halt enrichment. Oman pitches compromise—including a regional nuclear consortium—but Iran won’t abandon enrichment rights. Tensions rising. oilprice.com/Geopolitics/In…

China's CNNC is gaining ground on Russia’s Rosatom in the race to build Kazakhstan’s first nuclear plant. At $5.5B for 2 HPR-1000 reactors, China’s offer is less than half the cost of rivals. A final decision is due by end-June. oilprice.com/Geopolitics/In…

China is reshaping Africa’s energy future. Once focused on fossil fuels, Beijing now channels 59% of its African energy projects into wind & solar. With 600M people still lacking electricity, China could hold the key to clean growth. oilprice.com/Energy/Energy-…

OPEC+ is set to add 411,000 bpd to July targets—but actual output may rise just 905,000 bpd despite 1.4 mb/d in relaxed cuts. StanChart sees Q3 oil markets broadly balanced, but bearish sentiment persists amid weak demand & rising inventories. oilprice.com/Energy/Crude-O…

OPEC+ may hike July oil output by more than 411,000 bpd this weekend as frustration grows over Kazakhstan's refusal to cut production. Saudi strategy appears aimed at disciplining overproducers—even if it means lower prices short-term. oilprice.com/Energy/Energy-…

A supertanker carrying 2.1M barrels of Russia’s ESPO crude is idling near Taiwan—an unusual sign of weak demand or sanctions jitters. Chinese refiners, long fans of ESPO, may be growing cautious as U.S. pressure on Russian oil trade intensifies. oilprice.com/Latest-Energy-…

The EU says China and Hong Kong account for about 80% of efforts to circumvent sanctions on Russia, per a classified German Foreign Ministry report. Beijing denies aiding Moscow’s war machine, but Brussels is losing patience. #Sanctions #Russia #China #Geopolitics

U.S. gasoline demand rose 2% over Memorial Day weekend, driven by prices $0.40/gal cheaper than last year. At $3.16/gal, pump prices are near 2021 lows. Refineries look poised for strong margins this summer. #GasolineDemand #Refining #OilMarkets oilprice.com/Latest-Energy-…

*MEG OIL SANDS FACILITY HAS BEEN EVACUATED: ALBERTA WILDFIRE *MEG EVACUATES SOME WORKERS, OIL PRODUCTION NOT CURTAILED: CO

US Pres Trump Reiterates Iran Can't Have Nuclear Weapon

The IEA says global nuclear power generation will hit a record in 2025. With over 70 GW under construction and uranium supplies lagging behind, China may have found the answer: extracting uranium from seawater—100% yield, $83/kg. #NuclearEnergy #Uranium #China

Kazakhstan’s President Tokayev calls for a “new global order” where middle powers have real influence. At the Astana International Forum, he urged UN reform and multilateralism, warning that “inclusive progress” must win over “destructive fragmentation.” oilprice.com/Geopolitics/In…

The global economy may shrink over the next decade due to energy and debt limits. As oil, coal, and minerals hit diminishing returns, and debt loses power to stimulate growth, a long contraction could replace the age of expansion. #EnergyCrisis #LimitsToGrowth

In April, BYD outsold Tesla in Europe—a first, driven by politics and price. Western automakers are now studying Chinese EV tech to stay competitive, as EU tariffs clash with the reality: China makes better, cheaper EVs. #EVs #BYD #Tesla #AutoIndustry oilprice.com/Energy/Energy-…