Trump promoted fossil fuels. His war is pushing the world away from them.
As oil prices spike, governments are slashing fuel use and eyeing renewables — threatening to erode global demand for fossil energy.
Oil is the world’s most actively traded commodity, but forecasts vary as to whether it will start to wane in the decades to come. Understanding the changes sweeping through the oil industry and market today are key to understanding the outlook for economic growth, climate change, and geopolitical conflict.
Media reports suggest the Trump Administration is considering restrictions on US oil exports.
The oil shock triggered by the crisis in the Persian Gulf has pushed crude above $100 per barrel, reviving familiar fears of economic turmoil in the United States driven by surging gasoline and diesel prices.
Amid global oil and gas disruptions, China stands prepared for the electrostate era.
Multiple US–Iran conflict scenarios carry materially different risks for global oil infrastructure, transit routes, and prices.
China’s crude oil imports hit a record-high 11.6 million barrels per day in 2025, as geopolitical tensions, low oil prices, and global oversupply spurred China to increase its oil stockpiles, a trend likely to continue in 2026.
The US intervention in Venezuela may jeopardize both the flow of discounted Venezuelan oil to China's teapot refineries and the role of Chinese oil companies in Venezuela’s upstream business.
In discussing the dramatic seizure of Venezuelan President Nicolás Maduro and his wife, Cilia Flores, over the weekend, President Donald Trump declared that the United States would now “take back” the country’s oil. Yet he has offered little clarity on what exactly this means.
The country could see a relatively rapid recovery of some oil production, depending on the leadership that emerges.
Libya's bid round for new oil and gas exploration and production highlights its potential revival as a major oil producer.
Last month, the Trump administration imposed fresh sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, signaling a renewed desire to drive Moscow to the negotiating table in its war against Ukraine. But although these measures have the potential to harm the Russian economy, just how much damage they inflict will depend largely on one actor: Beijing. China bought almost half the oil Russia exported in 2024, evading Washington’s existing restrictions in the process. And new sanctions alone will do little to push China into significantly reducing its purchases.