The IEA's November report says global oil supply has moved above demand for the first time since the war in Iran began. It expects a surplus in the fourth quarter of 2026 and a larger build in 2027.
The agency's November balances say the market returns to a surplus in the fourth quarter of 2026, with a larger build in 2027.
Observed stocks rose by 52 million barrels in October, or 1.7 million barrels a day, the first increase since June.
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CVR Energy has agreed to buy Marathon Petroleum's St. Paul Park, Minnesota, and Mandan, North Dakota, refineries plus related marketing and midstream assets for about $4.2 billion plus working capital. The deal is expected to close by the end of 2026.
Archrock has agreed to acquire HiVolt Energy Holdings in an all-cash deal the companies value at up to $450 million. The filing sets a $415 million cash price at close, plus an employee incentive plan of up to $35 million, and expects the merger in the first quarter of 2027.
Rowan Digital Infrastructure has added more than $1.5 billion in corporate financing for its U.S. data center pipeline. The capital is for early work across 5.5 gigawatts, and more than 1.2 gigawatts is already under contract.
The EIA forecasts Alaskan crude oil production will rise 13% in 2027, to 505,000 barrels a day, the most since 2014.
NRC has granted Long Mott Energy a construction permit for a station in Calhoun County, Texas, and says a high-temperature gas-cooled reactor has not received one in nearly 60 years.
