Brent crude saw a slight gain, while US West Texas Intermediate futures dipped marginally. Increased production forecasts from OPEC and the EIA also weighed on prices, despite expectations of declining US output in 2026.
A tanker chartered by Chevron has docked at a Venezuelan port, set to be loaded with the first Venezuelan crude to be supplied to U.S. refiners after President Trump reinstated Chevron’s sanction exemption for operating in the country.
Curious Minds Corner
Where was Asia’s first successful oil well drilled and when?