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Oil is on track to be the largest export item for the United States this year for the first time in history, highlighting the growing influence of U.S. oil production and exports on the global oil market.

U.S. crude oil production hit an all-time high in August, according to new data published by the Energy Information Administration on Tuesday, with production surpassing pre-covid levels.

"We live in a world bounded by objective reality — a world where people need reliable energy, not fairy dust and pixie sprinkles."

"Coal plants are retiring, but natural gas – currently the single largest source of U.S. power generation – is helping stabilize the grids when renewables such as solar and wind falter."

Phasing out fossil fuels is unrealistic as oil, natural gas, and coal will continue to play a crucial role in global energy supply and energy security, China’s special climate envoy Xie Zhenhua said this week in a speech obtained by Reuters.

JPMorgan’s head of EMEA energy equity research, Christyan Malek, warned markets on Friday that the recent Brent price surge could continue upwards to $150 per barrel by 2026, according to a new research report.

global oil markets face a supply shortfall of more than 3 million barrels a day next quarter - potentially the biggest deficit in more than a decade.

In this visualization, Visual Capitalist's Chris Dickert and Sam Parker look at data from the latest Statistical Review of World Energy, and ask what powered the world in 2022.

25 refrigerators. That’s how much the additional electricity consumption per household would be if the average US home adopted electric vehicles (EVs).

Investment in new oil and gas exploration is recovering and is set to average $22 billion annually over the next four years.

Governments’ collective target to have offshore wind capacity jump fivefold annually by 2030 is unrealistic and would require $27 billion of secured investment by 2026 if it is to meet that growth in annual installations, excluding China, by the end of the decade, Wood Mackenzie said in a new report on Thursday.

Due to disagreements over policy, the cost of funding, and legal hurdles, Indonesia, the largest economy in Southeast Asia, is delaying the start of a $20 billion climate investment plan as part of a deal signed with the United States and other wealthy nations last year.

Two prominent climate scientists have taken on the Environmental Protection Agency’s (EPA) new rules to cut CO2 emissions in electricity generation, arguing in testimony that the regulations “will be disastrous for the country, for no scientifically justifiable reason.”

"So, the wind industry is grappling with, on the one hand, significantly higher costs and, on the other, turbine failures. The only solution they seem to see as possible is more government support. And, hypothetically, higher electricity prices for end consumers to make their projects viable again."