Goldman Sachs sees downside risk to oil price view amid tariffs, spare capacity
Tariff escalation and high spare capacity skew medium-term risks to Goldman Sachs’ oil price forecast to the downside, the bank said. “While we reduced our Brent forecast range by $5/bbl to $65-80, we...
View ArticleOil prices rise on strong demand outlook, weaker US dollar
Oil prices rose on Thursday, boosted by a strong outlook for demand in the United States after fuel inventories fell more than expected, and a weaker U.S. dollar. Brent crude futures were up 34 cents,...
View ArticleAsia’s sour crude demand set to rebound late second quarter, support Mideast...
Asia’s sour crude demand is set to rebound from late in the second quarter as refiners return from maintenance and Exxon Mobil XOM completes a Singapore refinery upgrade that is poised to increase its...
View ArticleTwo Colombian oil pipelines pause pumping after explosive attacks
Two oil pipelines in rural northeastern Colombia were forced to suspend pumping after they were attacked with explosives, oil transport firm Cenit said on Thursday, while the military blamed the...
View ArticleMiddle East Crude-Benchmarks slip; CPC buys less WTI
Middle East crude benchmarks Oman, Dubai and Murban slipped on Thursday, with most refiners having completed their purchases for May-loading supplies. Brent crude futures remained at a discount of 17...
View ArticleNorway’s overall oil, gas output beats forecast in February
Norway’s combined oil and gas production exceeded an official forecast by 1.8% in February, the Norwegian Offshore Directorate (NOD) said on Thursday. Norway is Europe’s largest supplier of natural gas...
View ArticleNatural gas pipeline project completions increase takeaway capacity in...
Natural gas pipeline projects completed in 2024 increased takeaway capacity by approximately 6.5 billion cubic feet per day (Bcf/d) in the U.S. natural gas-producing Appalachia, Haynesville, Permian,...
View ArticleAfter ‘home truths’, Nigeria finally turning tide on oil output, investment:...
The shift from international majors to local producers in Nigeria’s onshore will boost oil output towards 2 million b/d in 2025 and ultimately drive an economic diversification agenda that was long...
View ArticleThe Commodities Feed: Sanctions push oil higher
Energy – US tightens sanctions on Iranian oil exports Oil prices rallied yesterday with ICE Brent settling more than 1.7% higher on the day at US$72/bbl, the highest close this month. And this strength...
View ArticleOil heads towards second consecutive weekly gain on supply concerns
Oil prices rose on Friday and were heading for a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer group raised expectations of tighter...
View ArticleMiddle East Crude-Benchmarks rise to highest end-week levels this month
Middle East crude benchmarks Oman, Dubai and Murban rose on Friday to the highest end-week levels this month. SINGAPORE CASH DEALS Cash Dubai’s premium to swaps rose 5 cents to $1.51 a barrel. The U.S....
View ArticleNorth Dakota oil regulator expects lower oil prices this year amid Trump...
Oil prices will likely slip this year, the director of North Dakota’s state oil regulator predicted, amid uncertainty surrounding U.S. President Donald Trump’s tariffs on neighboring Canada and Mexico....
View ArticleU.S. ethane production, consumption, and exports set new records in 2024
U.S. ethane production, consumption, and exports reached record highs in 2024, according to recent data from our Petroleum Supply Monthly. Increasing ethane recovery associated with natural gas...
View ArticleOPEC+ issues new plan for oil cuts to compensate for overproduction
OPEC+ on Thursday issued a new schedule for seven member nations to make further oil output cuts to compensate for pumping above agreed levels, which will more than overtake the monthly production...
View ArticleUS oil and gas rigs rise for first time in three weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count,...
View ArticleKazakhstan daily oil output hit record high in March, industry sources say
Kazakhstan’s oil output has reached a record high this month on the back of oilfield expansion, further exceeding OPEC+ production quotas, two industry sources said and Reuters calculations showed on...
View ArticleUrals diffs unchanged, Kazakhstan’s oil output hits a new record
Urals crude differentials to dated Brent were stable on Friday, while Kazakhstan’s oil and condensate output rose to a new record in the first half of March. Oil and gas condensate production in...
View ArticleW. Africa Crude-Nigerian steady, Angolan Dalia sold
Nigerian crude differentials were heard to be steady on Friday while some details emerged of early trading in Angolan cargoes after the May loading programme was released this week. A blast ruptured...
View ArticleForties slips again after trade
North Sea Forties crude differentials dipped lower on Friday after ExxonMobil and Shell struck a deal with each other, with both firms bidding and offering respectively in recent sessions. PLATTS...
View ArticleCrude output in Guyana rose to 648,000 bpd in February, government says
Crude output in Guyana rose to 648,000 barrels per day (bpd) in February from 620,000 bpd the previous month, the natural resources ministry said on Thursday. Oil production in the South American...
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