Cyprus: ‘All options’ remain on the table for LNG plant
The companies constructing the delayed liquified natural gas (LNG) import terminal at Vasiliko are open to exploring alternative agreements beyond the scope of the current contract, Energy Minister...
View ArticleKuwait cuts July crude prices for Asia, document shows
Kuwait has cut the official selling price (OSP) for Kuwait Export Crude (KEC) to Asia in July by 40 cents from the previous month to $1.95 a barrel above the average of Oman/Dubai quotes, a price...
View ArticleMiddle East Crude-Benchmarks rise, Murban premium steady
Middle East crude benchmarks Oman, Dubai and Murban continued their winning streak for a fourth consecutive session on Wednesday. Spot premiums for Oman and Dubai recovered to $1 per barrel to Dubai...
View ArticleUS crude, fuel inventories rose last week, EIA says
U.S. crude stockpilesrose unexpectedly last week, driven largely by a jump in imports, while fuel inventories also increased, the Energy Information Administration (EIA) said on Wednesday. Crude...
View ArticleSlowing demand growth and surging supply put global oil markets on course for...
New IEA medium-term outlook sees comfortably supplied oil markets to 2030, though unwavering focus on energy security will remain crucial as powerful forces transform sector Growth in the world’s...
View ArticleUS EIA lowers 2024 oil price outlook by $3/b after steep price declines in May
The US Energy Information Administration lowered its 2024 crude price forecasts by more than $3/b to account for an $8/b decline in Brent prices from April to May, although the agency expects prices to...
View ArticleOil little changed as surprise crude stock build caps gains
Oil prices were broadly steady on Wednesday after three key forecasters predicted that global oil inventories would fall in the second half of 2024, but gains were capped by a surprise build in U.S....
View ArticleKazakhstan says it will offset May oil overproduction in June
Kazakhstan was 45,000 barrels per day above its OPEC+ quota in May and will compensate that overproduction and be fully compliant in June, the country’s energy ministry said on Wednesday. It also said...
View ArticleEIA expands coverage of crude oil and natural gas production with regional...
Beginning with this month’s Short-Term Energy Outlook (STEO), we are including new regional crude oil and natural gas production forecasts to provide a more complete breakout of U.S. Lower 48 (L48)...
View ArticleUS crude dominates Dated Brent benchmark as shale exports boom
U.S. crude has dominated global benchmark oil pricing in the year since booming shale exports joined the mix of European crude used to calculate how much a barrel of the world’s most traded commodity...
View ArticleOil demand set to peak by 2029, major supply glut looms, IEA says
Global oil demand will peak by 2029 and begin to contract the next year, the International Energy Agency said on Wednesday, while oil supply capacity is due to vastly outpace demand by the end of the...
View ArticleOil softens on Fed rate decision, ample supply outlook
Oil prices slipped on Thursday as investors digested that the U.S. Federal Reserve had likely pushed back an interest rate cut to December and as U.S. crude and fuel stocks rose. Brent crude futures...
View ArticleCanada has room for multiple LNG projects, as LNG Canada is on the cusp of...
Canada’s West Coast has room for multiple LNG export projects to meet a burgeoning global energy demand, particularly in Asia led by Japan and South Korea, even as the North America nation’s first...
View ArticleUS natural gas pipeline Mountain Valley prepares for start-up
U.S. natural gas pipeline venture MountainValley Pipeline said on Wednesday it was preparing the$7.85-billionpipe from West Virginia to Virginia to operate, afterreceiving approval from a U.S. energy...
View ArticleIraq ‘committed’ to compensate for oil overproduction in 2024, ministry says
Iraq’s oil ministry said it is fully committed to compensating for any crude oil overproduction in 2024, referencing estimates by secondary sources of overproduction by 203,000 barrels in May above...
View ArticleKazakhstan to submit crude output compensation plan to OPEC within days
Kazakhstan plans to submit its revised plan to compensate for producing above its OPEC+ crude quota in 2024 in the coming days, the energy ministry said in a statement posted on Instagram June 12....
View ArticleOver a year in making, Aramco stake sale brings rare foreign investment to Saudi
Saudi Arabia began preparing more than a year ago to sell a new chunk of state oil giant Aramco 2222.SE, targeting foreign investment that has lagged goals for years and is needed for an ambitious...
View ArticleIEA sees major oil capacity glut by 2030 as demand peaks
The world is facing a major oil capacity glut in the current decade that could trigger lower prices and test OPEC’s market control as global oil demand peaks, the International Energy Agency said June...
View ArticleMiddle East Crude-Benchmarks retreat after rising for four straight days
Middle East crude benchmarks Oman, Dubai and Murban snapped their four-day winning streak on Thursday, with spot premiums for all three shrinking below $1 per barrel to Dubai quotes. Meanwhile, U.S....
View ArticleRussia’s oil output exceeded OPEC+ quotas in May, pledges to meet obligations
Russia’s energy ministry said on Thursday that its oil production in May exceeded quotas set by the OPEC+ group of major oil producing countries, while pledging to meet its obligations. It did not...
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