"This Chart Should Stop You Cold In Your Tracks"

China Accelerates Ultra-Deep Drilling To Boost Domestic Oil Supply Submitted By Tsvetana Paraskova of OilPrice.com, China is accelerating efforts to produce more oil from ultra-deep formations to boost domestic supply amid continued global market turmoil. State-owned giant PetroChina has produced more than 26 million tons of oil equivalents from reservoirs dug 6,000 meters (19,685 ft) below the surface in the Hade-Fuman oilfield in the western region of Xinjiang, state media report. Reservoirs at 6,000 meters and deeper are considered ultra-deep and more expensive and technologically challenging to drill. China has drilled a total of...

UAE Pushes For Hormuz Security Force, While Turkey Argues Against Gulf Entry Into War It's one of those things that sounds nice on paper, but when missiles and drones are inbound, no one is going to want to be on a military ship sitting in the middle of the Strait of Hormuz: the United Arab Emirates, which has been among the hardest-impacted Gulf states in Iran's ongoing retaliation, is pressing for a multinational maritime ​taskforce to reopen vital oil transit waterway, the Financial Times reports ‌Friday. The UAE, with a navy that's not...