Canadian oil and gas CEOs avoiding ‘rash’ decisions during price rout
The CEOs of two Canadian oil and gas producers said on Tuesday they are seeking to avoid making rash decisions, as global oil prices hover around four-year lows and recession fears grow. Doug Bartole,...
View ArticleUS oil, gas producers expected to tighten capital budgets amid tariff actions
The Trump administration’s tariffs and countermeasures by other economies are expected to discourage capital spending by US oil and natural gas producers, which are worried about the prospect of higher...
View ArticleGoldman Sachs forecasts Brent, WTI prices under different scenarios
Goldman Sachs forecast that Brent and WTI crude prices would be at $62 a barrel and $58 by December 2025 and at $55 and $51 by December 2026, respectively, under two assumptions. The bank, in a note...
View ArticleSharp fall in LNG prices reinforces dissonance emerging from fixed price tenders
The sharp fall in LNG prices on April 4 has reinforced the dissonance that emerges from the use of fixed prices in the procurement of cargoes in the spot market. That day saw China announce reciprocal...
View ArticleChina teapot oil refiners improve run rates but demand woes, sanctions weigh
Run rates for China’s struggling independent oil refiners have nudged up recently, but still face near-term pressure over tepid domestic fuel demand and supply risks from U.S. sanctions and tariffs,...
View ArticleU.S. crude oil inventories down last week: API
The American Petroleum Institute (API) on Tuesday reported a decrease of 1.057 million barrels of crude oil in U.S. inventories for the week ending April 4. The API reported a surge of 6.037 million...
View ArticleOil falls to lowest since February 2021 as Trump’s tariffs take effect
Oil prices fell for a fifth day to their lowest since February 2021 on Wednesday on looming demand concerns fuelled by an escalating tariff war between the U.S. and China, the world’s two biggest...
View ArticleMiddle East Crude-Benchmarks gain amid supply disruptions
Middle East crude benchmarks Oman, Dubai and Murban gained on Wednesday following a shutdown of a major pipeline for transporting crude oil from Canada to the United States. The 4,327-km (2,689-mile)...
View ArticleUS crude stockpiles rise as exports hit Jan lows, EIA data shows
U.S. crude oil stockpiles rose last week as imports increased and exports fell to their lowest since January, while gasoline and distillate inventories drew down, the Energy Information Administration...
View ArticleCanadian oil and gas CEOs avoiding ‘rash’ decisions during price rout
The CEOs of two Canadian oil and gas producers said on Tuesday they are seeking to avoid making rash decisions, as global oil prices hover around four-year lows and recession fears grow. Doug Bartole,...
View ArticleChevron to ‘triple-frac’ half of Permian oil wells in 2025 to cut costs, time
U.S. oil major Chevron CVX plans to increase the use of a technique that allows it to fracture subterranean rock in three wells at a time in the Permian basin, the company told Reuters, in an effort to...
View ArticleVitol posts $8 billion to $8.5 billion net profit in 2024, sources say
The world’s top energy trader, Vitol, made a net profit of $8 billion to $8.5 billion in 2024, a steep drop from record highs of 2022 and 2023 but still exceeding rivals by a wide margin despite lower...
View ArticleUS crude stockpiles rise as exports hit Jan lows, EIA data shows
U.S. crude oil stockpiles rose last week as imports increased and exports fell to their lowest since January, while gasoline and distillate inventories drew down, the Energy Information Administration...
View ArticleHow Ukraine’s gas infrastructure could be of interest to Trump
The U.S. administration suggested this week the United States could help run and possibly own Ukraine’s power plants and energy infrastructure as part of a ceasefire deal with Russia. Although...
View ArticleTariff shockwaves shake the energy industry
On the campaign trail last year, President Donald Trump promised steep increases in US tariffs, and in office he has been acting swiftly to make good on those pledges. Last week, he announced a...
View ArticleOPEC March oil output falls on Venezuela, Iran losses amid sanctions
OPEC oil output fell in March ahead of a scheduled output hike, a Reuters survey found, as Nigeria curbed deliveries to domestic refineries and Iranian and Venezuelan supply dropped on renewed U.S....
View ArticleThe Commodities Feed: The tariff pause
Energy – Tariff pause provides some relief Oil prices rallied along with risk assets yesterday after President Trump paused reciprocal tariffs on most trading partners, at least those that haven’t...
View ArticleOil retreats after sharp rally as US-China trade war escalates
Oil prices retreated nearly 3% on Thursday as fears of a deepening U.S.-China trade war and possible recession eclipsed earlier relief created by President Donald Trump’s announced 90-day pause on...
View ArticleKazakhstan in talks with oil producers about output cuts, Ifx reports
Kazakhstan has been in talks with oil producers about reducing output, which has been above the country’s OPEC+ quota, Interfax news agency reported on Thursday citing the energy ministry. Kazakhstan...
View ArticleMiddle East Crude-Benchmarks rise; Saudi May allocation awaited
Middle East crude benchmarks Oman, Dubai and Murban extended gains on Thursday, amid better buying appetite encouraged by a recent drop in global oil prices. Oil prices retreated nearly 3% on Thursday...
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