US crude stockpiles fall as refining continues to rise, EIA says
U.S. crude oil inventories fell last week as refiners continued to ramp up production, while gasoline and distillate stockpiles also dropped, the Energy Information Administration said on Wednesday....
View ArticleRussia sees global oil demand rising by up to 1.5 million bpd in 2025
Russia’s Deputy Prime Minister Alexander Novak said on Wednesday that global oil demand was seen rising by between 1.0 million barrels per day and 1.5 million bpd this year, various news agencies...
View ArticleUS oil and gas activity edged up in the first quarter, Dallas Fed says
Activity in the U.S. oil and gas sector increased slightly in the first quarter of 2025, but uncertainty and pessimism among companies also rose, a Dallas Fed survey showed on Wednesday. U.S. President...
View ArticleRussia sees global oil demand rising by up to 1.5 million bpd in 2025
Russia’s Deputy Prime Minister Alexander Novak said that global oil demand was seen rising by between 1.0 million barrels per day and 1.5 million bpd this year, various news agencies reported. That...
View ArticleOil eases as markets take stock of Trump auto tariffs
Oil prices edged lower on Thursday as markets weighed the impact of U.S. President Donald Trump’s auto tariffs at a time when concerns swirled about global supply due to U.S. tariff threats on buyers...
View ArticleMiddle East Crude-Benchmarks ease from two-day gain
Middle East crude benchmark spot premiums for Oman, Dubai and Murban eased on Thursday from a two-session gain following new U.S. tariffs that triggered fresh demand concerns. U.S. President Donald...
View ArticlePermian producers hit the brakes on output as negative prices linger
Permian Basin natural gas producers are dialing back output in late March as falling shoulder-season demand and pipeline maintenance continue to fuel price volatility at West Texas hubs. Over the past...
View ArticleSaudi Aramco looks to invest in Indian refineries, sources say
Saudi Aramco is in talks to invest in two planned refineries in India as the world’s top oil exporter looks for a stable outlet for its crude in the world’s fastest-growing emerging market, several...
View ArticleCzechs to start oil imports through upgraded TAL pipeline in April
The Czech Republic will increase shipments of crude via the expanded TAL pipeline from Italy in April, Czech pipeline operator MERO said on Thursday, replacing imports of Russian oil through the...
View ArticleCrude oil: Sanctions threat counters tariff-driven demand worries
Crude oil futures continue to recover from a USD 14 selloff that began in January following Trump’s combative inauguration speech, which signalled an inward political focus combined with aggressive...
View ArticleChina CNOOC’s 2024 net profit rises 11% on record output
China’s CNOOC Ltd 600938 posted a rise of 11.4% in 2024 net profit on record output despite weaker oil prices, as the state energy firm continues to focus on increasing reserves and production. The...
View ArticleEnergy trader Vitol eyes $3 billion sale of US shale producer, sources say
Global commodities trader Vitol is exploring a sale of its VTX Energy Partners business, in a deal that could value the U.S. shale oil and gas producer at as much as $3 billion, including debt, people...
View ArticleEU members seek flexibility on 90% gas storage filling rule, draft shows
European Union countries are discussing a proposal that would allow them to deviate from the bloc’s target to fill natural gas storage to 90% before winter, if market conditions make this prohibitively...
View ArticleVitol CEO sees Russian sanctions lasting ‘another 1-2 years’
Global trader Vitol expects it could still be years before the company returns to the Russian market, according to CEO Russell Hardy, who sees long lead times for EU sanctions rollbacks necessary for...
View ArticleOil retreats amid tariff worries, set for third week of gains on supply woes
Oil prices retreated on Friday amid tariff-related demand concerns, but headed for a third weekly gain on a tightening global supply outlook after the U.S. placed more pressure on Venezuelan and...
View ArticleUS warns Venezuela not to attack Guyana, ExxonMobil oil interests
US Secretary of State Marco Rubio warned Venezuela that strong action would be taken if Guyana is invaded or an attack is launched on ExxonMobil’s oil assets in the Stabroek Block. At a March 27 news...
View ArticleRussian April ESPO Blend oil tumbles into discount as China state firms curb...
Russia’s Far East flagship ESPO Blend oil prices fell to the weakest levels in 10 months amid cooling demand from its main consumer China, with prices for April loading flipping into a discount in...
View ArticleUS drillers cut oil and gas rigs for first time in three weeks, Baker Hughes...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed...
View ArticleWhy oil companies may not love Pres. Trump’s ‘drill, baby, drill’ agenda
President Donald Trump is urging oil producers to “drill, baby, drill.” U.S. oil and gas investors may not be on board with the plan. “Right now, with low oil prices, I think we’re going to start to...
View ArticleUS drillers cut oil and gas rigs for first time in three weeks, Baker Hughes...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The...
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