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News & Articles By Sterling Ashworth
05/20/2026
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By Sterling Ashworth
India Raises Fuel Prices for the First Time in Four Years as Crude Costs Surge
Indian state refiners raised their retail prices for gasoline and diesel by the equivalent of $0.031 per liter on May 15, the first such increase in four years, according to Bloomberg as reported by OilPrice.com. The hike, which amounts to over 3%, was implemented in response to tighter global crude oil availability, the report said. […]
05/14/2026
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By Sterling Ashworth
China’s Car Sales Fell 21.5% in April as Gasoline Demand Weakens
Total car sales in China fell to 1.4 million units in April, a 21.5% decline compared with the same month last year, according to data cited by Bloomberg and reported by OilPrice.com. This was the lowest monthly sales total since 2022, when the country was still under widespread Covid lockdowns. Internal combustion engine car sales […]
05/14/2026
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By Sterling Ashworth
U.S. Releases 53 Million Barrels From Strategic Petroleum Reserve Amid Rising Gas Prices
The U.S. Department of Energy (DOE) announced Monday, May 11, that it will loan 53 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) to petroleum companies in an effort to relieve elevated gas and oil prices amid the conflict with Iran, according to a DOE news release. [1] Deliveries will begin immediately, […]
05/14/2026
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By Sterling Ashworth
Modi Urges Fuel Conservation as Oil Shock Intensifies
Indian Prime Minister Narendra Modi on Sunday urged citizens to reduce fuel consumption by working from home and limiting travel, according to reports. “In the current situation, we must place great emphasis on saving foreign exchange,” Modi said, as quoted by Reuters [1][2]. The appeal comes as India faces mounting pressure from rising oil prices […]
05/06/2026
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By Sterling Ashworth
Chevron’s Mike Wirth Warns of Emerging Physical Shortages in Crude Oil, Asian Markets to be Hit Hard
Chevron CEO Mike Wirth said signs of physical crude oil shortages are emerging, warning that economies will need to slow as demand adjusts to constrained supply. Speaking at an event, Wirth stated, “We will start to see physical shortages,” as quoted by Reuters. He added that “demand needs to move to meet supply” and that […]
05/06/2026
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By Sterling Ashworth
UAE Withdraws From OAPEC Following Exit From OPEC Alliance
The United Arab Emirates has officially withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), the group announced on X on Sunday, with the exit taking effect on May 1, according to [1]. The decision coincides with Abu Dhabi’s withdrawal from OPEC and the broader OPEC+ alliance on the same date. OAPEC stated, “While […]
04/28/2026
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By Sterling Ashworth
Oil Prices Rise as U.S.-Iran Tensions Disrupt Strait of Hormuz Shipping
Oil Prices Rise After U.S.-Iran Tensions Threaten Strait of Hormuz Crude oil futures climbed sharply on Monday, April 27, as heightened U.S.-Iran tensions disrupted shipping through the Strait of Hormuz, a waterway that handles about 20% of global oil shipments, according to market data. Brent crude rose 2.9% to $108.36 a barrel, while West Texas […]
04/24/2026
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By Sterling Ashworth
Japan Requests Additional Oil Supply from Saudi Arabia Amid Strait of Hormuz Disruption
Japanese Prime Minister Sanae Takaichi formally requested that Saudi Arabia expand energy deliveries to Japan during a telephone call with Saudi Crown Prince Mohammed bin Salman on Thursday, April 23, 2026, according to a statement from the Japanese prime minister’s office. [1] The request is a direct response to a severe supply crunch caused by […]
04/21/2026
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By Sterling Ashworth
U.S. Treasury Extends Russian Crude Oil Sanctions Waiver Through May
The U.S. Department of the Treasury (USDT) has extended a sanctions waiver permitting transactions involving Russian crude oil through mid-May 2026, according to an official document issued on Friday, April 17. The extension, designated as General License 86E, allows for the delivery and sale of Russian crude and petroleum products loaded onto vessels as of that […]
04/16/2026
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By Sterling Ashworth
Global Energy Disruption From Iran Conflict Boosts China’s Dominance in Clean Technology Sectors
A conflict involving Iran and the resulting disruption to a major portion of Asia-bound oil and gas shipments through the Strait of Hormuz is accelerating a global shift toward renewable energy and electric vehicles, according to energy analysts. This market instability is poised to benefit Chinese industry, which holds a dominant position in these clean […]
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