#U.S. oil output record

[firstoccupier]

Fossil Fuels and Biden: The Policy Dilemma

🛢️ Biden’s Climate Contradiction: “End Fossil Fuels”? Not Quite. President Joe Biden campaigned on a bold climate agenda, promising to end fossil fuel drilling on public lands and lead the United States toward a clean energy future. Yet, in office, his administration has approved more oil drilling permits than his predecessor and overseen record-breaking oil production levels. This apparent…

[mariacallous]

Since taking office, U.S. President Donald Trump has pulled the United States out of the Paris Agreement, paused wind farm leasing on U.S. public lands and offshore waters, and defiantly declared that “we will drill, baby, drill” for oil and gas to achieve energy dominance. In response, climate policy advocates have wasted no time in proclaiming China to be the world’s last best hope for climate action.

“Insofar as there is to be a global climate leader it can now only be China,” wrote economist Adam Tooze. A Chinese climate policy analyst speculated in a Straits Times interview whether this moment might mark structural Western decline in the “climate space” and the rise of “alternative voices.” Bloomberg journalists contrasted Trump’s return against China’s record-breaking solar and wind build-outs, arguing that China could be poised to upstage the United States by assuming global climate leadership. Recent newsletters from Carbon Brief overflow with positive headlines about China’s energy transition efforts while reporting grimly on the Trump-led shift on climate policy.

While the United States now makes for an even more convenient climate pariah than usual, framing Washington as the villain and Beijing as the climate savior ignores the facts of China’s energy use and trajectory. More importantly, selectively framing the debate this way also deflects attention from Beijing’s own emissions, particularly in the coal power and industrial sectors.

As the U.S. withdrawal from the Paris climate agreement fundamentally challenges the usefulness of climate summits and pledges, praise for China’s alleged climate progress validates charges that the climate policy circuit exists only for performative promises and symbolic pageantry.

There is a stark dichotomy between applause for Beijing’s climate rhetoric and the reality of China’s emissions trajectory. Since China signed the Paris Agreement in 2015, it has accounted for 90 percent of all global growth in carbon emissions. China now produces more than 30 percent of the world’s carbon dioxide from fossil fuels. China’s greenhouse gas emissions are more than twice the United States’ and more than four times India’s or the European Union’s.

Five years have passed since Chinese President Xi Jinping’s landmark pledge to achieve net-zero carbon emissions by 2060, but there is little evidence to suggest that the country’s energy system and policies are moving in the right direction. China will very likely miss its 2025 carbon-intensity pledge—an 18 percent reduction in carbon emissions per unit of economic output compared to 2020 levels—along with all of its other 2025 pledges related to limiting coal use and expanding clean power. And far from making good on a widely celebrated 2021 promise to phase out international financing of coal projects, China remains, by far, the leading financier of overseas coal power capacity. At home, Chinese planners started construction of 94.5 gigawatts of coal power generation in 2024 alone, roughly equal to the power generated by the entire U.S. nuclear power sector.

China’s emissions trajectory illustrates the limitations of the most venerated global climate pledge of all: limiting warming to 1.5 degrees Celsius (or about 2.7 degrees Fahrenheit) above preindustrial levels by the end of the century. Even if China’s carbon emissions peaked this year and then plummeted linearly to zero by 2060, China alone would consume the entire world’s remaining carbon budget for a 66 percent chance of achieving the 1.5 degree goal.

Commentators and activists demanding muscular climate policies from the West usually look away when others point an accusatory finger at China. But a Chinese climate analyst writing in the Financial Times effectively conceded that an emissions pathway that avoids breaching the 1.5 degree Celsius target would require an unlikely “crash decarbonization” by China.

Planners and thinkers need to accept that the 1.5 degree goal is now irreconcilable with reality—no matter how much they imagine that Chinese technological and construction magic might save the day.

Some might counter that while the 1.5 degree target may have slipped away, Beijing nonetheless has a real chance of executing an about-face and leading the world in fast-paced decarbonization. Certainly, China is building solar, wind, battery, and nuclear energy facilities at a blinding pace, installing nearly 100 gigawatts more solar capacity in the first half of 2024 than the rest of the world combined. More than 80 percent of the world’s solar cell manufacturing takes place in Chinese factories. This year, sales of electric vehicles in the country will likely exceed those of combustion-engine cars. And Beijing can build on these successes by helping other countries, particularly low- and middle-income states, develop renewable power projects. Indeed, Chinese solar exports are on the rise.

But none of these numbers can change the bigger picture. Since 2011, China has consistently consumed more coal than the rest of the world combined; last year, coal use likely hit another record high. China’s clean electricity additions may be impressive, but they are only now beginning to match growth in overall energy demand, which means that fossil fuel energy consumption is—at best—only plateauing, without any of it yet being displaced. Meanwhile, an uptick in curtailed and otherwise wasted renewable generation suggests that a further build-out of renewables is increasingly constrained by grid infrastructure and market inflexibility.

China’s vast industrial sector—often glossed over in climate discussions—accounts for around 60 percent to 70 percent of the country’s emissions. Industry currently depends on fossil fuels to smelt ores, fire up furnaces, and serve as the feedstock from which various products are made. The Chinese aluminum sector alone produces roughly as much carbon dioxide as the entire country of Indonesia. China’s chemical, steel, metal, and minerals industries together exceed the total emissions of the entire United States. Next to such figures, the strident demands by various activists and advocacy groups for climate commitments from sub-Saharan African nations with negligible emissions appear even more absurd.

Some of China’s policies, including its lack of ambition to electrify heavy industry, actually hold back global decarbonization efforts. Cleaner means of producing steel, nickel, graphite, or ubiquitous chemicals such as calcium carbide and sodium hydroxide face fierce competition from highly polluting but low-cost Chinese producers that enjoy generous government support.

China has proposed and imposed export controls on key technologies required to manufacture solar panels, batteries, and other clean technology. Beijing may be keen to sell electric cars and solar equipment at home and abroad, but it is clearly not giving these technologies to the world.

If anything, the Chinese example does not buoy hopes that a developing country can both build a heavy industrial base and mitigate emissions. Meanwhile, activists and international policymakers have expressed concern over the entanglement of China’s solar, battery, and electric car industries with state-sponsored forced labor programs in the province of Xinjiang. Such objectionable policies have now forced many governments and firms into difficult quandaries over the ethical sourcing of solar panels and other clean technology.

And far from making good on the 2021 promise to phase out international financing of coal projects, state-owned banks and financial institutions such as the China Development Bank and the Export-Import Bank of China continue to play a central role in funding coal-fired projects. Through its Belt and Road Initiative, China has extended its financial influence globally by providing loans and investments specifically earmarked for energy infrastructure, including coal. These investments often come with attractive financing terms that make them appealing to governments with limited access to capital. China’s stated climate ambitions thus stand in sharp contrast to its overseas financing of coal plants.

To this day, China has duly ratified global climate treaties, consistently attended climate summits, and contributed some funds to global climate finance mechanisms. But when it comes to the key metric of emissions, U.S. and EU numbers are decreasing, while China’s have not yet peaked. Distaste for Trump’s climate policies must not mislead commentators into mistaking Chinese decarbonization dreams for real-world deeds.

A more serious debate about the global energy transition must grapple with what Beijing is still not doing instead of just cheering at China’s solar and electric car milestones. Climate commentary about the country must grow beyond getting excited when a communique of the Chinese Communist Party’s Central Committee mentions the words “carbon reduction” for the first time.

And rather than asking softball questions about whether Beijing remains committed to climate action despite Trump’s uncooperativeness, perhaps commentators should repeatedly ask when the government will cease its efforts to subsidize heavy industry in the most carbon-intensive manner imaginable. They should question whether China messages its climate progress as a means to influence U.S. and European behavior, or if Beijing has instead received concessions from Washington or Brussels by offering unenforceable climate promises.

Most of all, the climate policy circuit must open its eyes to the reality that Chinese policymakers follow a “China First” geopolitical strategy that is at least as relentless as Trump’s “America First” posture. Official spokespeople insist that China is still a developing country with a lower obligation to cut emissions or contribute toward climate finance, while Chinese climate negotiators’ stress that climate cooperation is conditional on efforts to improve relations in other areas to Beijing’s satisfaction—a policy linkage that is entirely at odds with the widespread Western view of climate as a challenge above all others.

And if climate activists still doubt that Beijing’s real intentions diverge from its cooperative rhetoric, they need look no further than Russian troops riding across Ukraine in Chinese-made Desertcross all-terrain vehicles, supported by Chinese drones, and funded by Chinese purchases of Russian oil and gas.

Behind all the promises and signaling, the numbers don’t lie: China is not going to drive a rapid transition away from fossil fuels at home or abroad. It may well be the case that what is happening in China is simply what is happening everywhere else: slow, long-term decarbonization. In other words, China will be using fossil fuels for a long time, even as it makes progress on clean energy and low carbon technology.

If climate advocates are now giving up hope that Trump’s United States might supply their Hollywood climate ending, then they will find little solace in turning expectantly toward China.

[rjzimmerman]

Excerpt from this story from EcoWatch:

President Donald Trump’s “drill, baby, drill” call for a resurgence in United States oil production will be frustrated by the reluctance of Wall Street to approve another frenzy, according to shale bosses, reported the Financial Times.

U.S. oil and gas output during Trump’s second term will increase by less than 1.3 million barrels of oil a day, Wood Mackenzie and Rystad Energy said, well below the nearly two barrels a day rise under Joe Biden.

“The incentive, if you will, to just drill, baby, drill… I just don’t believe that companies are going to do that,” said Wil VanLoh, chief executive of Quantum Energy Partners, one of the largest investors in shale, as the Financial Times reported.

“Wall Street will dictate here — and you know what? They don’t have a political agenda. They have a financial agenda… They have zero incentive to basically tell the management teams running these businesses to go and drill more wells,” VanLoh said.

This could be a big letdown for the new president, who is expecting a surge in oil supply to lower U.S. inflation by making fuel and goods less expensive.

“We will bring prices down… We will be a rich nation again, and it is that liquid gold under our feet that will help to do it,” Trump said during his inauguration speech.

At the World Economic Forum’s annual meeting in Davos on Thursday, Trump called on OPEC to bring down oil prices. However, lowering the price of oil and gas would reduce profits for shale companies, making them less likely to heed Trump’s agenda.

“Prices will be a bigger signal than politics,” said Ben Dell, managing partner at energy investment firm Kimmeridge, which owns shale assets in the Permian Basin in Texas, the most productive oilfield on the planet.

Oil production in the U.S. reached a record high in 2024, but the Energy Information Administration predicts output will only jump 2.6 percent this year to 13.6 million barrels a day before growing less than one percent the following year due to price pressures.

[allthebrazilianpolitics]

Brazil trade surplus aims for stronger year amid challenging outlook

Agricultural growth and higher oil output are set to boost exports in 2025, but U.S. policies and commodity price volatility pose challenges

Brazil’s trade surplus is projected to reach $77.3 billion in 2025, according to the median of 12 estimates compiled by Valor Data from consulting firms and financial institutions. Forecasts range from $71.4 billion to $93 billion. In 2024, Brazil posted a $74.6 billion trade surplus, a 25% decline compared to 2023.

Economists interviewed by Valor expect the trade balance to improve in 2025, driven by a larger agricultural harvest and increased oil production, both of which are expected to boost exports. At the same time, imports are likely to slow as domestic demand weakens. However, significant uncertainties remain in the global landscape, particularly due to concerns over U.S. policies under Donald Trump’s presidency. A sharper-than-expected impact on commodity prices is a key point of concern.

The sharp outflow of dollars from Brazil at the end of 2024 underscored the critical role of a robust trade balance. December saw record dollar outflows, marking a stark contrast to the positive flows observed through November, which were strongly supported by a solid trade account. For the full year, the overall currency flow turned negative, with a deficit of $18 billion—the third-worst nominal result since 1982.

“A robust trade balance was what prevented an even more significant outflow of dollars from Brazil in 2024,” said Iana Ferrão, an economist at BTG Pactual. “If the trade balance had returned to pre-pandemic levels, below $50 billion in 2025, we would now face a far more concerning current account deficit. With the continued outflow of financial capital, the Central Bank would likely need to sell more foreign reserves, significantly increasing Brazil’s external vulnerability and further depreciating the currency, which would push inflation and interest rates higher.”

Continue reading.

[democracyunderground]

LAS VEGAS (KLAS) — Nevada Democratic Sen. Jacky Rosen is pushing for the federal government to investigate how big oil companies are merging and reducing competition.

In a letter to the Federal Trade Commission, Rosen and 22 other Senate Democrats asked for a closer look at two planned mergers: ExxonMobil’s acquisition of Pioneer Natural Resources for $60 billion and Chevon’s purchase of Hess Corporation for $53 billion, her office said.

Less competition negatively affects consumers and drives up prices, Rosen said, adding she and her colleagues in the U.S. Senate can try to hold companies accountable.

“By allowing Exxon and Chevron to further integrate their extensive operations into important oil-and-gas fields, these deals are likely to harm competition, risking increased consumer prices and reduced output throughout the United States,” the letter said.

The U.S. average for a gallon of regular was $3.25 as of Wednesday, according to AAA. The average in Nevada was almost $1 higher at $4.17 – about 50 cents lower than this time last year and the fourth highest average after California, Hawaii and Washington State.

Amid record high gas prices last year, Chevon, ConocoPhillips, Exxon and Shell all reported record profits with more than $1 trillion in sales, CBS News reported.

[reviewofeconomics]

Israel-Iran Escalation Spikes Oil and Sparks Market Volatility-

Investors have turned sharply risk averse after a dramatic military clash between Israel and Iran, sending oil prices to fresh highs and rattling global markets. On June 13 Israel launched air strikes on Iran’s nuclear and missile facilities – killing several senior commanders and scientists – prompting Iran to retaliate with ballistic missiles into Israel. The flare up forced Israel to warn of a “prolonged” operation and cancel nuclear talks with Tehran Even Iran’s state media reported fires at oil and gas sites, while Israel warned civilian ships to avoid Yemen’s Hodeidah port after striking Houthi run docks there The prospect of a broader Middle East war has stoked acute investor fear.

1• Brent crude jumped 7.0% on June 13, settling at $74.23/bbl (up ~$4.87)reuters.com, after intraday spikes above $78 – its largest move since early 2022. WTI rose 7.6% to ~$72.98reuters.com. Both benchmarks are ~12% higher than a week earlier. 2• Stocks fell worldwide: on June 13 the Dow fell 1.8%, S&P 500 –1.1% and Nasdaq –1.3%reuters.com. Europe’s STOXX 600 slid ~0.9% to three week lows, and Asian shares in Tokyo, Seoul and Hong Kong were down ~1% eachreuters.com. By Sunday June 15 Gulf stock indexes plunged: Qatar’s fell 2.9%, Kuwait –4.3% and Saudi Arabia’s Tadawul index –1.6%reuters.comreuters.com. Israel’s TA 35 initially dipped nearly 2% but recovered to +0.5% on June 15reuters.com. 3• Bond yields were mixed: U.S. 10 year Treasury yields jumped to about 4.41% (+5.6 bps)reuters.com as inflationary pressures from oil rose, while safe havens in Europe pushed yields down (e.g. 10Y Bunds dipped). Israel’s government bonds rallied ~+0.4% (yields fell)reuters.com as officials promised to keep markets open. 4• Currencies & safe assets: The US dollar index rose ~+0.5%reuters.com as traders fled risk. The Swiss franc and Japanese yen initially strengthened (JPY briefly touched 144 per USD)reuters.com, while the euro weakened ($1.15)reuters.com. Gold jumped +1.4% to ~$3,431/ozreuters.com, near record highs, and even Bitcoin fell amid the sell off. These moves reflect a classic “risk off” rotation. One analyst called the current phase a “controlled confrontation” – markets are jittery but have not priced in a full war yetreuters.comreuters.com. The CBOE Volatility Index spiked to 20.82 on June 13, a three week peakreuters.com. U.S. futures and Asian markets will reopen after the weekend with all eyes on whether tensions ease or spread.

Oil Market Impact-

Crude has borne the brunt of geopolitical risk. Brent crude on Friday (June 13) surged from ~$69 to ~$78 intradayreuters.com, before settling at $74.23 – a 7.0% jumpreuters.com. WTI reached ~$77.62 intra day (a ~14% spike) and closed $72.98reuters.com. These are the largest one day percentage moves since early 2022reuters.com. By Monday, prices held near six month highs (front month Brent ~$74.17 on June 13)spglobal.com. Analysts note that actual output so far remains uninterrupted: Iran’s state oil company reported that refineries and storage were undamagedreuters.com, and Western officials say Iran still exports ~2 million bpd. OPEC’s spare capacity (Saudi/Russia, etc.) is roughly Iran’s outputreuters.com. But any wider war could quickly choke supplies. About 20 million barrels per day (nearly 20% of world oil) transit the Strait of Hormuzreuters.comaljazeera.com. “Saudi Arabia, Kuwait, Iraq and Iran are wholly locked into one tiny passage,” noted Rabobankreuters.com. Israel’s strikes on an Iranian offshore gas platform (in the shared South Pars field)reuters.com and Tehran’s threats to close Hormuz have “sent shockwaves” through marketsaljazeera.com. In response, policymakers are treading carefully. The IEA says it is “monitoring” developments and stands ready to release crude from its 1.2 billion-barrel emergency stockpile if neededspglobal.com. OPEC’s secretary-general Haitham al-Ghais urged calm, insisting there are “no developments in supply or market dynamics” that require new measuresspglobal.com. OPEC delegates note that, besides Iran, major producers (Saudi, UAE, Iraq) also ship via Hormuzspglobal.com, so full war would be a grave concern. Still, OPEC+ plans to boost output (adding ~2.2 mbd in July) are on trackspglobal.com, and one analyst reckons the cartel will stick to market share policies despite the crisisspglobal.com.

Global Equity Retreat and Safe Havens- The sudden risk shock knocked global equities off record highs. On Friday (June 13), major U.S. indexes fell: the Dow lost 1.8%, S&P 500 –1.1% and Nasdaq –1.3%reuters.com. European Stoxx 600 closed 0.9% lowerreuters.com, briefly hitting a three-week low, and MSCI Asia-Pacific slipped similarly. By Monday, U.S. futures and Asian bourses were poised for more weakness. Analysts attribute the broad sell off to “flight to safety” flows. Gold’s sharp rise to ~$3431/ozreuters.com and a rally in the U.S. dollarreuters.com signal that risk assets are under pressure. Volatility surveys confirm jitters: the VIX fear index jumped to 20.82 on June 13reuters.com. “Markets are struggling,” said one strategist, citing the inflationary oil shock (which should push bond yields higher) versus the safe haven bid (which drives yields lower)reuters.com. Indeed, U.S. 10-year yields briefly pulled back after the overnight shock, before trending up again. In Israel, markets are trying to stay open despite attacks. The Tel Aviv 35 Index erased early losses and closed up 0.5% on June 15reuters.com. Treasury prices rose (yields down ~0.4%)reuters.com and the shekel weakened from ~3.50 to 3.61 per USD by Fridayreuters.com. Finance Minister Smotrich hailed the “strong, stable, resilient” economyreuters.com, and the central bank stressed normal operations (banks and markets) would continuereuters.com. Nonetheless, forecasters warn that deeper conflict could eventually test even Israel’s robust finance.

Energy and Security Concerns-

Beyond financial markets, the standoff has raised energy-security fears. The most immediate worry is about oil chokepoints. If the Strait of Hormuz were disrupted, supply losses could be severe. One oil market strategist noted that any conflict “impacting output, shipping lanes like the Strait of Hormuz, or key infrastructure would directly affect global supply”spglobal.com. Al Jazeera reports that merchant shipping is still transiting Hormuz “on high alert,” and even talk of a closure has already pushed prices higheraljazeera.comaljazeera.com. A Houthi ultimatum also looms: Yemen’s Iran-aligned Houthis have begun targeting Israel (even claiming to fire missiles toward Tel Aviv)reuters.com and warned that Israel’s Haifa oil port could be hit next. Israel in turn struck the Red Sea port of Hodeidah on June 10, saying it was used by Houthis to funnel weaponsreuters.com. Such incidents threaten regional shipping in the Red Sea and Gulf of Aden – home to major oil and trade routes. Global shipping insurers have already raised premiums for Red Sea passages.

Policy Outlook and Investor Sentiment-

For now, central bankers appear reluctant to overreact to the shock. Experts point out that oil’s latest surge, while significant, may not derail monetary policy. “Long gone are the days when a central bank would hike rates because of a spike in oil prices,” said a Lombard Odier economist, noting that other producers (OPEC+ spare) can offset some Iranian cutsreuters.com. Still, officials will watch core inflation closely. The U.S. Federal Reserve meets on June 17–18 amid these tensions; Fed speakers may have to balance upside surprises from fuel costs against still weak growth signals. Government reactions have mostly aimed to contain panic. U.S. officials have urged calm, with President Trump (via social media) calling on Iran to negotiate rather than escalatereuters.com. Gulf Arab states (though sympathetic to Iran) held talks to defuse the crisis, and the U.S. Navy remains on alert to secure commerce. On markets, investors are in “wait-and-see” mode. One Washington CIO said the risk profile is “still too high” to jump back into stocksreuters.com. Indeed, funds have partially reversed recent bullish positions: commodity speculators piled into crude (raising net longs), but risk parities have reduced equity exposure. The bottom line: energy prices and risk sentiment are now hostage to the Iran-Israel skirmish. Markets will watch daily developments (rocket alerts, diplomatic moves, Houthi actions) for clues. If the confrontation remains limited, oil may retreat from its spikes; but any blow to Middle East output or chokepoints could send prices well above $80–$90/bbl. Until then, investors brace for volatility, with inflation expectations (driven by oil) and global growth outlook hanging in the balancespglobal.comreuters.com.

Sources: Reuters market reports and Middle East conflict updatesreuters.comreuters.comreuters.comspglobal.comreuters.com, Al Jazeeraaljazeera.com. All data as of mid-June 2025.

#IsraelIranConflict #MiddleEastTensions #Geopolitics2025 #GlobalConflict #WorldNews #BreakingNews #PoliticalAnalysis

[alexisfx]

Asian shares gain as Treasuries find support

As of May 23, 2025, 14:00 GMT+8

Asian shares gained on Friday as beaten-down Treasuries found buyers after U.S. President Donald Trump's tax bill narrowly passed the lower house, although debt worries still dominated.

European shares are similarly poised for a higher open, with EUROSTOXX 50 futures FESX1! up 0.2% and FTSE futures Z1! 0.3% higher. Nasdaq futures NQ1! and S&P 500 futures ES1! were both flat.

Overnight, PMI data around the globe showed U.S. business activity picked up pace in May, which helped Wall Street rise earlier in the session before running into selling pressures and closing the day little changed. In contrast, disappointingly weak activity in Europe dragged shares there lower.

The Republican-controlled U.S. House voted by a slim margin to pass Trump's tax cut bill, which would fulfil many of his campaign pledges, but will increase the $36.2 trillion U.S. debt pile by $3.8 trillion over the next decade.

Treasury yields, especially at the longer-dated end, have climbed on worries about U.S. fiscal health in the run-up to the passage of the bill. That was exacerbated by the decision from Moody's last week to downgrade the U.S. credit rating, citing rising debt.

The 30-year bonds (US30YT=RR), however, did manage to find some buyers with prices now at some attractive levels. Their yields fell another 1.6 basis point to 5.048% on Friday, having dropped 2.5 bps overnight to pull away from a 19-month top of 5.161% earlier in the session.

They are still up 15 bps this week.

"Maybe the certainty of getting something through has been enough to alleviate some of the fear, panic in the market, but as well as that, it is not unusual in big moves for there to be a bit of overshoot," said Ken Crompton, senior interest rate strategist at the National Australia Bank.

"There is certainly nothing in this market move or the passage of this version of the bill that tells me there is going to be meaningful reductions in U.S. bond issuance or this broader concern about global bond supply."

In Asia, yields on super-long Japanese government bonds (JGBs) also retreated from their highs. The 30-year yields (JP30YT=RR) fell 5 basis points to 3.115%, after hitting all-time highs earlier in the week, with the jump being monitored closely by the Bank of Japan.

The MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.5% on Friday, which helped it erase earlier losses in the week.

Chinese blue chips 3399300 were flat but Hong Kong's Hang Seng HSI rose 0.6%.

Japan's Nikkei NI225 gained 0.5% as data showed Japan's core inflation accelerated at its fastest annual pace in more than two years in April.

In the currency market, the dollar DXY was on the back foot again and is headed for a weekly drop of 1.3% against its major peers. The euro EURUSD is set for the first weekly rise after four weeks of declines, and was up 0.3% on Friday at $1.1309.

U.S. Federal Reserve Governor Christopher Waller said on Thursday he still sees a path to rate cuts later this year, but noted that the outlook depends on where Trump's tariff policy settles.

Separately, a U.S. Supreme Court ruling on Thursday in a legal battle over Trump's firing of two federal labor board members contained a line that eased, for now, worries that the cases could open the door for the president to fire Fed Chair Jerome Powell at will.

Bitcoin BTCUSD prices dipped from its record high but it was still set for a weekly gain of 6.4% to $110,796.

Oil prices fell for a fourth straight session on the prospect of further output increases by OPEC+ countries. U.S. crude CL1! futures dropped 0.5% to $60.89 a barrel and were down 2.6% for the week.

Brent BRN1! also slipped 0.5% at $64.15 per barrel.

In precious metals, gold prices (=XAU) rose 0.7% at $3,317 an ounce, and were set for a weekly gain of 3.6%.

[chemanalystdata]

Cyclohexane Price Index: Market Analysis, Trend, News, Graph and Demand

The cyclohexane market experienced notable price fluctuations in the first quarter of 2025, shaped by various regional supply-demand dynamics, cost pressures, and geopolitical developments. As a key intermediate used in the production of nylon, resins, and solvents, cyclohexane prices are closely linked to benzene and crude oil values, as well as demand trends in end-use industries such as automotive, construction, and textiles. During this period, the global cyclohexane market reflected a mix of bullish and bearish trends across major regions, including North America, Europe, and the Asia-Pacific, each influenced by distinct economic and logistical factors.

In North America, cyclohexane prices recorded a steady upward trajectory throughout Q1 2025, primarily driven by higher feedstock benzene costs and a consistent demand from key downstream sectors. Early in the quarter, a rally in crude oil futures and positive market sentiment contributed to increased production costs, which were subsequently passed along the value chain. The anticipation of inflationary pressures, partially attributed to potential import tariffs under President Trump's administration, further fueled bullish sentiment. These tariff concerns led to speculative buying, with many importers choosing to secure cyclohexane volumes ahead of any formal policy changes. Supply chain stability also improved during this period, particularly after the International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) signed a six-year labor deal, resolving uncertainties tied to potential port disruptions.

Get Real time Prices for cyclohexane : https://www.chemanalyst.com/Pricing-data/cyclohexane-1148

Midway through the quarter, the region's operational landscape normalized following disruptions caused by Winter Storm Enzo. However, market uncertainty resurfaced with the U.S. government’s announcement of a 25% tariff on imports from Mexico and Canada. Although the measure had not yet been enforced, the possibility of elevated costs prompted preemptive purchasing activity. This surge in imports, especially from overseas suppliers, added further upward pressure on prices. Toward the end of the quarter, cyclohexane prices remained elevated, supported by a rebound in U.S. manufacturing output and higher vehicle sales, both of which bolstered demand for downstream applications such as nylon production. While benzene prices showed signs of easing by late March, the cyclohexane market maintained price stability due to persistent procurement activity and the overall resilience of economic indicators.

In contrast, the European cyclohexane market witnessed a downward trend in prices during the same period, with values falling by approximately 7.4%. This decline was largely attributed to oversupply and weakened consumption across core industrial sectors. January began with subdued trading activity, as many producers operated at reduced rates to align with soft market sentiment. The lingering effects of the holiday season further dampened procurement levels, while a temporary halt in exports from Belgium—caused by maintenance activities at the Port of Antwerp—contributed to increased product availability in the domestic market. The construction sector, a significant consumer of cyclohexane-derived materials, also recorded sluggish performance, further impacting demand fundamentals.

February brought a slight increase in contract prices for cyclohexane, rising by EUR 2 per metric ton. However, this uptick was not widely accepted by downstream buyers, as demand continued to lag and many buyers resisted price hikes amid ample supply. Benzene prices, which had risen by 4.5%, added to production costs, but the weak market environment prevented these cost increases from being fully transferred downstream. Limited buying interest from Asian exporters and subdued automotive sector performance also constrained any meaningful price recovery. By March, benzene prices dipped by around 2%, slightly easing production costs. Nonetheless, cyclohexane prices remained largely stable due to balanced inventory levels. Overall, weak end-user demand, combined with logistical inefficiencies, kept the European market under pressure, limiting any bullish momentum.

Meanwhile, the Asia-Pacific region showed a more positive pricing outlook for cyclohexane during Q1 2025. Prices rose by approximately 4.6% over the quarter, although the market did experience volatility. In January, despite a 3.3% decline in benzene prices that lowered production costs, supply tightness—especially in China due to plant shutdowns—supported price increases. This supply-side constraint, along with restocking activity ahead of the Lunar New Year, provided additional upward pressure on pricing. Demand from sectors such as caprolactam and paints remained moderate but sufficient to support steady pricing. In February, Chinese producers leaned on existing inventories, and benzene prices edged up by 1%, contributing to sustained cost pressures. Limited cyclohexane output kept the supply-demand balance tight, while export flows to Southeast Asia helped maintain a healthy trade environment.

As the quarter progressed into March, the oversupply of benzene brought production costs down once again. Cyclohexane prices remained relatively stable, with producers maintaining disciplined output levels to prevent oversaturation. Although demand from the paints and coatings industry continued to lag, some signs of recovery emerged, particularly in the construction sector. However, a full rebound in regional demand was not expected within the quarter, as macroeconomic uncertainties and sector-specific weaknesses lingered. Despite these challenges, the overall tone in the Asia-Pacific market remained optimistic, bolstered by cautious supply management and growing interest from certain downstream applications.

In summary, the global cyclohexane market in Q1 2025 was shaped by contrasting regional trends. North America exhibited price growth on the back of strong demand and geopolitical speculation, while Europe faced downward pressure from weak consumption and surplus availability. The Asia-Pacific region, although mixed, leaned toward a bullish trend supported by tight supply and improving demand indicators. These regional dynamics underline the complex interplay of feedstock prices, industrial demand, and policy developments that continue to influence the global cyclohexane pricing landscape.

Get Real time Prices for cyclohexane : https://www.chemanalyst.com/Pricing-data/cyclohexane-1148

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[researchyblog]

Global Manufacturing Execution Systems (MES) Market 2025: Key Trends, Growth Drivers, and Regional Analysis

Market Overview

The global Manufacturing Execution Systems (MES) market is expanding due to the increasing complexity of manufacturing processes, growing adoption of industrial automation in both process and discrete industries, and the importance of regulatory compliance. Additionally, the integration of MES with enterprise resource planning (ERP) and product lifecycle management (PLM) solutions, along with rising MES applications in the pharmaceutical industry, are expected to present significant opportunities for market players. However, challenges such as the complexities of MES deployment in various industries and the need for substantial capital investment, along with ongoing maintenance costs, may hinder market growth.

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Impact of COVID-19 on the MES Market

The COVID-19 pandemic disrupted multiple sectors, leading to temporary shutdowns or reduced operations for many manufacturers. The lockdowns and supply chain disruptions created uncertainties, making it difficult for businesses to predict market recovery. The pandemic led to structural shifts with lasting implications for the MES market. Due to halted manufacturing activities and reduced productivity, several market players experienced significant losses. Many manufacturing facilities closed, particularly in sectors like power generation, oil and gas, and automotive. As industries adapted to new operational guidelines post-pandemic, the demand for MES is expected to rise to ensure smooth and efficient operations.

Key Market Drivers and Opportunities

Pharmaceutical Industry Adoption The pharmaceutical industry is increasingly adopting MES to manage evolving trends, reduce production costs, and comply with regulatory standards. MES systems help improve product traceability, manage quality through barcodes and RFID tags, and meet global track and trace regulations. Compliance with the European Union's Falsified Medicines Directive (FMD) and the U.S. FDA's Drug Supply Chain Security Act (DSCSA) is driving this demand. These systems ensure safe manufacturing processes, reducing risks associated with counterfeit drugs.

Service Segment Growth The MES market is divided into software and services based on the offering. The services segment is expected to record the highest compound annual growth rate (CAGR) during the forecast period. The post-implementation services, including software upgrades, training, and ongoing support, are crucial for maintaining MES systems' efficiency. Improved manufacturing processes, reduced waste, and shorter output times are contributing to this segment's growth.

Hybrid Deployment Gaining Traction MES deployment modes include on-premise, on-demand, and hybrid models. The hybrid deployment model is projected to see the fastest growth, particularly in oil & gas and energy & power industries. Hybrid models offer real-time monitoring capabilities and additional storage capacity, enhancing data protection and operational efficiency.

Quality Management as a Leading Application Among MES applications, quality management is set to achieve the highest growth. MES systems are used extensively in regulated industries like food & beverages and pharmaceuticals to monitor and control production processes, ensuring high-quality outputs. The ability to integrate MES with quality control systems allows manufacturers to maintain compliance with stringent quality standards.

Process Industry to Lead Market Growth The market is categorized into process and discrete industries. The process industry segment, including sectors like food & beverages, oil & gas, chemicals, pharmaceuticals, and energy, is expected to grow the fastest. The need for adaptable manufacturing processes to meet dynamic consumer demands is a key growth driver in this segment.

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Regional Market Insights

The global MES market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to register the highest CAGR during the forecast period, driven by:

Technological investments in industrial tools and machinery production.

Growth in the semiconductor industry.

Increasing MES adoption in chemical and automotive industries.

Expanding R&D investments in countries like China and India.

China's significant investments in artificial intelligence (AI) for the pharmaceutical sector are also boosting the MES market. The rising number of manufacturing facilities across various industries, such as automotive, textiles, power, and pharmaceuticals, further supports market expansion.

Segment Analysis

1. By Offering:

Software: Core MES solutions enabling real-time production management and control.

Services: Implementation, software upgrades, training, and other support services, ensuring MES systems' effective operation.

2. By Deployment Mode:

On-Premise: MES software hosted on local servers, providing control over data but requiring higher initial investment.

On-Demand (Cloud-Based): Offers scalability and reduced infrastructure costs but depends on internet reliability.

Hybrid: Combines on-premise and cloud benefits, preferred for critical industries needing robust data management and flexibility.

3. By Application:

Monitoring: Real-time tracking of production processes.

Production Control & Documentation: Streamlines production workflows and maintains accurate records.

Inventory & Maintenance Management: Enhances supply chain efficiency and equipment reliability.

Quality Management: Critical for maintaining product standards, particularly in highly regulated sectors.

4. By End-use Industry:

Process Industries: Includes food & beverages, pharmaceuticals, chemicals, energy, and water & wastewater.

Discrete Industries: Encompasses automotive, aerospace, consumer packaged goods, and medical devices.

Leading Market Players

The MES market features several key players focusing on product innovation and strategic expansions. Notable companies include:

Siemens AG (Germany)

Rockwell Automation, Inc. (U.S.)

SAP SE (Germany)

ABB Ltd (Switzerland)

Dassault Systèmes S.A. (France)

AVEVA Group Plc (U.K.)

Applied Materials Inc. (U.S.)

Oracle Corporation (U.S.)

General Electric Company (U.S.)

Emerson Electric Co. (U.S.)

Epicor Software Corporation (U.S.)

Infor Equity Holdings LLC (U.S.)

Eyelit Inc. (Canada)

Aegis Industrial Software Corporation (U.S.)

Critical Manufacturing, S.A. (Portugal)

These companies are adopting strategies like mergers, acquisitions, and new product launches to enhance their market share.

Future Market Trends

Increasing Use of AI and IoT: Enhancing MES functionalities, predictive maintenance, and operational efficiency.

Growing Demand in the Automotive Sector: MES helps manage complex production lines and supports the industry's shift towards electric vehicles.

Adoption in Small and Medium Enterprises (SMEs): Cloud-based MES solutions are making advanced manufacturing capabilities accessible to smaller players.

The MES market is poised for robust growth, driven by advancements in industrial automation, regulatory pressures, and the need for efficiency in manufacturing processes. As industries continue to digitize and streamline operations, MES systems will play a crucial role in achieving operational excellence. Asia-Pacific presents significant growth opportunities due to its expanding industrial base and increasing technological investments. Overcoming challenges related to deployment complexities and high costs will be critical for market players to fully capitalize on emerging opportunities.

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[oilgasenergymagazine]

Trump Revokes LNG Export Permit Freeze, Reversing Biden’s Energy Policy

Source: upstreamonline.com

Category: News

  

Trump Lifts Restrictions on LNG Permits

Former U.S. President Donald Trump has officially lifted the freeze on applications for liquefied natural gas (LNG) export permits, reversing a policy introduced by his predecessor, Joe Biden. In an executive order issued on Monday, Trump directed the resumption of permit processing for new LNG projects, marking a significant step in his broader plan to bolster domestic energy production. This move reverses Biden’s 2024 decision to pause approvals for LNG export permits, which was implemented to allow U.S. national laboratories to examine the environmental and economic impacts of the expanding LNG industry.

The United States, the world’s largest LNG exporter, achieved record shipments in 2023, with projections indicating that exports could double by the end of the decade. However, Biden’s policy had created uncertainty for several planned projects, particularly those aimed at meeting energy demands in Asia and Europe. Trump’s order seeks to eliminate this uncertainty, signaling a return to prioritizing energy exports.

Major LNG Projects Set to Resume

The policy reversal could unlock significant momentum for various stalled LNG projects, particularly in Louisiana and Texas. Key facilities awaiting permit approvals include Commonwealth LNG, Venture Global’s CP2 terminal, Cheniere Energy’s Sabine Pass expansion, and Energy Transfer’s Lake Charles terminal in Louisiana. Meanwhile, Texas-based projects like the second phase of Sempra’s Port Arthur LNG also stand to benefit.

These projects are pivotal for meeting the growing demand for LNG globally, especially as Europe continues to seek alternatives to Russian energy supplies and Asia’s appetite for cleaner fuels increases. Trump’s decision underscores his commitment to removing barriers for the U.S. energy industry, aiming to capitalize on the nation’s role as a global energy leader.

New Energy Leadership Focuses on Expansion

To drive this agenda forward, Trump has appointed energy executives and policymakers to key positions in his administration. Chris Wright, Trump’s nominee for Energy Secretary, has emphasized the need to expand domestic energy production, including LNG and nuclear power. Wright, who previously led Liberty Energy, is expected to play a central role in issuing LNG Export Permits and advancing the administration’s energy goals.

Additionally, Doug Burgum, the former governor of North Dakota and Trump’s nominee for Interior Secretary, will oversee efforts to increase oil and gas leasing on federal lands. Burgum is set to chair a national energy council tasked with developing strategies to boost U.S. energy output. These appointments reflect Trump’s strategic focus on leveraging the country’s natural resources to enhance energy independence and economic growth.

By lifting the LNG export permit freeze and prioritizing energy expansion, Trump’s administration is reshaping the U.S. energy landscape, reversing policies focused on environmental considerations, and doubling down on the country’s position as a dominant force in the global energy market.

[global-research-report]

Waste Heat Recovery Systems: Market Growth and Emerging Technologies

The global waste heat recovery system market size is expected to reach USD 102.41 billion by 2030, registering a CAGR of 9.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The upcoming evolution of waste heat recovery systems is expected to be amplified by investments in several industries such as refineries, heavy metals, paper & pulp, petrochemicals, and chemicals. Major manufacturing industries are actively adopting waste heat recovery systems to decrease their dependence on conventional energy and produce in-house power to reduce operational costs. For instance, in October 2022, Kawasaki Heavy Industries delivered a waste heat recovery power generation system to the Saitama cement plant of TAIHEIYO CEMENT CORPORATION located in Japan. The installation of this system was completed by the company in 2022. It carried out everything from the general plant designing to the equipment supplying and commissioning, as well as installation. The new system has a rated output of 7,850 kW or about 8 MW. By using waste thermal energy to generate electricity for internal usage, the Saitama cement plant can save money on outside power purchases and reduce its annual carbon dioxide (CO2) emissions by around 23,000 tons.

Rising awareness of clean energy across the industrial sector and availability of energy-saving certificates in developed countries such as the U.S. and regions such as the European Union are expected to boost the demand for waste heat recovery systems over the forecast period. The supportive policies in countries such as China, India, Japan, and Australia are expected to boost the market growth in Asia Pacific over the forecast period.

Moreover, government regulations such as the Energy Conservation (Amendment) Bill, 2022, and incentives related to deploying energy-efficient devices play a pivotal role in promoting energy efficiency across the world. A number of countries have established energy efficiency standards and labeling programs for various products, which encourage manufacturers and consumers to prioritize energy-efficient devices over traditional devices.

The market is a concentrated market where major companies such as Siemens Energy, Mitsubishi Power, Ltd., General Electric account for significant market share in the market in 2022. These companies apart from equipment supply are also focusing on various strategic initiatives including partnerships, new launches, collaborations, and expansion.

Waste Heat Recovery System Market Report Highlights 

Preheating segment is anticipated to grow at the fastest rate over the forecast period. One of the primary reasons for the growth of pre-heating applications is the potential for significant cost savings. By using waste heat instead of additional energy sources such as electricity and natural sources, companies can lower their operational expenses, making them more competitive in the market

Petroleum refinery segment emerged as the largest segment with a market share of 20.9% in 2023 and is expected to register the fastest growth over the forecast period. The significant increase in CO2 emissions underscores the need for oil refineries to take immediate and aggressive action to reduce their carbon footprint. WHRS can play a crucial role in this by capturing and utilizing waste heat, which reduces the overall energy consumption of the facility and subsequently lowers emissions

Liquid-liquid phase system emerged as the largest segment with a market share of 40.2% in 2023 and is expected to register robust growth over the forecast period. The rising demand for the growing petroleum and power industry across the globe driving the segment growth over the coming years. In the petroleum refining industry, the WHR systems are used for various procedures such as refinement, thermal cracking, and catalytic treatment

Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, in April 2023, Damco Energy chose GE to build a new power plant. GE will offer its potent 9HA.02 natural gas turbine, steam turbine, generator, and heat recovery steam generator to build the new power station of 840 megawatts (MW). The plant will be operational in 2026

Waste Heat Recovery System Market Segmentation

Grand View Research has segmented the global waste heat recovery system market on the basis of on end-use, application, phase system, and region:

Waste Heat Recovery System Application Outlook (Revenue, USD Million, 2018 - 2030)

Pre Heating

Power & Steam Generation

Others

Waste Heat Recovery System End-use Outlook (Revenue, USD Million, 2018 - 2030)

Petroleum Refinery

Power

Cement

Chemical

Metal Production & Casting

Pulp & Paper

Other

Waste Heat Recovery System Phase System Outlook (Revenue, USD Million, 2018 - 2030)

Liquid-liquid Phase System

Liquid-gas Phase System

Thermal Regeneration

Waste Heat Recovery System Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Mexico

Europe

Germany

Italy

Spain

Asia Pacific

China

Japan

India

Central and South America

Brazil

Middle East and Africa

UAE

Saudi Arabia

South Africa

Order a free sample PDF of the Waste Heat Recovery System Market Intelligence Study, published by Grand View Research.

[industrynewsupdates]

Industrial Vending Machine Market Opportunities, Segmentation and Forecast Report 2024 - 2030

The global industrial vending machine market size was valued at USD 3.01 billion in 2023 and is anticipated to grow at a CAGR of 9.8% from 2023 to 2030. 

The increasing demand is attributed to the growing trend toward lean manufacturing practices. As businesses strive to eliminate waste and improve efficiency, industrial vending machines are essential for managing and dispensing materials as needed. By supporting just-in-time (JIT) inventory practices, these machines help companies maintain minimal stock levels while ensuring that critical items are always available. This approach reduces storage costs and minimizes the capital tied up in inventory.

Another important driver is the rising adoption of customized and flexible manufacturing processes in sectors such as aerospace, automotive, and electronics, where production lines often need to adapt to different product specifications; industrial vending machines offer a flexible solution for managing a wide range of tools and components. These machines can be easily reconfigured to accommodate different items, enabling manufacturers to quickly adapt to changing production needs without disrupting operations. This flexibility is increasingly valuable as companies look to stay competitive in a market where customization and rapid product development are key differentiators. Industrial vending machines are provisioned to record inventory usage by tracking the type, time, and user identification, bringing transparency and accountability. Additionally, these machines improve the company's output by reducing the walk-around time and facilitating employee typicity. They also avoid hoarding various items.

Gather more insights about the market drivers, restrains and growth of the Industrial Vending Machine Market

Industrial Vending Machine Market Report Highlights

• The coil vending machine segment accounted for over 37.8% of the global revenue share in 2023, owing to its higher penetration across various end-use industries such as construction, manufacturing, and oil & gas

• The PPE segment accounted for the largest share in 2023 due to the increased use of protective items, including hard hats, safety goggles, and safety gloves, across various industries

• The manufacturing segment held the largest market revenue share in 2023. This is credited to the strong growth in the manufacturing sector worldwide, especially in emerging economies

• North America accounted for the largest regional share in 2023, owing to the strong presence of key players and distributors in the region, and high awareness about these machines across various industries

• Key players are opting for various strategies, including product development, expansion to new geographic locations, and joint ventures, to increase sales and improve market share

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global polymer filler market size was valued at USD 57.33 billion in 2023 and is projected to grow at a CAGR of 5.0% from 2024 to 2030. 

• The global vacuum insulation panel market size was valued at USD 8.25 billion in 2023 and is projected to grow at a CAGR of 4.3% from 2024 to 2030.

Industrial Vending Machine Market Segmentation

Grand View Research has segmented the global industrial vending machine market based on type, product, end-use, and region:

Industrial Vending Machine Type Outlook (Revenue, USD Million, 2018 - 2030)

• Carousel Vending Machine

• Coil Vending Machine

• Cabinet Vending Machine

• Others

Industrial Vending Machine Product Outlook (Revenue, USD Million, 2018 - 2030)

• MRO Tools

• PPE

• Others

Industrial Vending Machine End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Manufacturing

• Oil & Gas

• Construction

• Aerospace

• Others

Industrial Vending Machine Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o UK

o Germany

o France

o Italy

o Spain

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

• Latin America

o Brazil

o Mexico

o Argentina

• Middle East & Africa (MEA)

o UAE

o Saudi Arabia

o South Africa

Order a free sample PDF of the Industrial Vending Machine Market Intelligence Study, published by Grand View Research.

[rjzimmerman]

Excerpt from this story from the New York Times:

Political and corporate leaders have pledged to reduce planet-warming emissions to net-zero by 2050. But oil companies like Shell are betting that the world will need oil and gas for decades to come. To serve that demand, they are expanding offshore oil and gas drilling into deeper and deeper waters, especially here in the Gulf of Mexico.

Offshore production, oil executives argue, is not only crucial to power cars, trucks and power plants but also better for the planet than drilling on land. That’s because such operations emit far less of the greenhouse gases that are warming the planet than producing the same amount of oil and gas on land, according to industry estimates.

“The world will continue to need oil, by the way, even in 2050,” Wael Sawan, chief executive of Shell, said in a recent interview. “It will have to be lower and lower emissions.”

The greenhouse gas emissions associated with extracting a barrel of oil from the Gulf of Mexico are as much as a third lower than emissions from producing a barrel of oil from fields on U.S. soil, according to a report published last year by the National Ocean Industries Association, an industry group for offshore oil, gas and wind businesses. (Those numbers do not include the emissions created when fossil fuels are burned in engines or power plants, which are much greater than emissions from producing and refining oil and gas.)

Oil production in the Gulf of Mexico fell for several years after the 2010 Deepwater Horizon explosion caused the worst offshore oil spill in U.S. history. But the gulf’s oil output has been rising over the last decade. The renewed interest in offshore production is part of a larger trend: The United States has recently set records for oil production, extracting more crude than any other country.

Booming oil and gas production in the United States has alarmed climate activists and scientists who want the energy industry to pivot more quickly to cleaner fuels and technologies like wind and solar power and electric vehicles.

“We’re not talking about stopping oil production today,” said Brettny Hardy, a senior lawyer in the Oceans Program at Earthjustice, a nonprofit environmental law organization. “But no matter how you look at it, there’s a really dire need to accelerate this shift to clean energy. The things the industry is doing now is not going to help that transition.”

[theenergyconnection]

Harris twice invoked the surge in U.S. crude and natural gas production in the televised proceedings — a striking embrace of the nation’s fossil fuel output for a candidate who more often touts her green credentials and history of attacking the oil and gas industry as...

[jide-tijani]

U.S. Oil and Gas Production Reaches New Heights Amid Industry Shifts

By Jide Tijani