India to invite private firms to build strategic crude oil reserves
India will invite private companies to build and operate strategic crude oil reserves to augment its protective storage of energy supplies. add_main_imageStrategic reserves are a country’s answer to...
View ArticleNigeria’s NNPC says focused on action to boost oil output
Nigerian state oil company NNPC Ltd is committed to reversing declining crude production and will replace partners that fail to fulfil their joint venture commitments on output, group chief executive,...
View ArticleUS crude, products stockpiles seen down last week
U.S. crude oil and product stockpiles were expected to have fallen last week, a preliminary Reuters poll showed on Monday. Four analysts polled by Reuters estimated that crude inventories on average...
View ArticleOil bulls advance cautiously as stocks expected to fall
Investors purchased petroleum for the third week running as bearishness triggered by the OPEC+ meeting at the start of June waned and fund managers anticipated a big depletion of inventories in the...
View ArticleWhy are oil prices high despite OPEC deciding to phase out supply cuts?
Crude oil prices have been on the rise recently, despite the Organisation of Petroleum Exporting Countries and its allies (OPEC+) announcing a gradual phaseout of production cuts, starting later in the...
View ArticleAPI shows weekly US gasoline stocks rise, crude, distillates fall, market...
U.S. crude oil and distillates inventories fell last week while gasoline rose, according to market sources citing American Petroleum Institute figures on Tuesday. The API figures showed crude stocks...
View ArticleOPEC oil output rises for second month in June, Reuters survey finds
OPEC oil output rose in June for a second consecutive month, a Reuters survey found on Tuesday, as higher supply from Nigeria and Iran offset the impact of voluntary supply cuts by other members and...
View ArticleOil prices steady after large US crude inventory draw
Oil prices steadied on Wednesday after trading higher as industry data showed a bigger-than-expected draw in U.S. crude stockpiles, with gains capped by economic headwinds from China and the euro zone....
View ArticleUS DOE sells one million barrels from the Northeast Gasoline Supply Reserve
The United States Department of Energy awarded contracts for the sale of one million barrels of gasoline from the Northeast Gasoline Supply Reserve, timed to dent regional gasoline prices before the...
View ArticleRussian oil and gas revenue soars 41% in first half, data shows
Proceeds from oil and gas sales for Russia’s federal budget rose by around 41% year on year in the first half of the year 5.698 trillion roubles ($65.12 billion), finance ministry data showed on...
View ArticleMiddle East Crude-Benchmark premiums range narrows as Dubai slips
Middle East crude benchmark premiums narrowed as Dubai and Oman benchmarks slipped on Wednesday, while Murban was little changed. Spot premiums for the three benchmark grades narrowed to a range of...
View ArticleUS crude stocks, gasoline and distillate inventories fall – EIA
U.S. crude stocks plunged by much more than expected last week as refining and export activityincreased, while gasoline and distillate inventories also fell, the Energy Information Administration said...
View ArticleU.S. oil output growth slows, gas begins to fall
U.S. oil production continues to grow even as gas starts to turn down, with the diverging fortunes of the two sectors reflecting the much steeper slump in gas prices and drilling activity since the...
View ArticleThe Commodities Feed: Tight US inventories support oil
Oil prices edge higher in early morning trading today after API numbers overnight showed that the US crude oil inventories fell sharply. ICE Brent moved up and continued to trade above $86/bbl, while...
View ArticleUS, EU lawmakers seek international methane standard for oil and gas
A group of European Union and U.S. Democrat lawmakers has asked the International Energy Agency to develop international standards for measuring the oil and gas sector’s emissions of methane, to help...
View ArticleKazakhstan exceeded OPEC+ oil quota in June, raised output, sources say
Kazakhstan raised oil and gas condensate production in June by 4% from May on a daily basis to 7.24 million metric tons, exceeding its quota within the OPEC+ group of oil producers, according to two...
View ArticleLNG futures H1 traded volumes soar on steadier JKM, more physical trades
LNG futures traded volumes in the first half of 2024 rose year on year due to increased trading activity in the cargo market and stabilizing Asia-Pacific spot LNG prices, according to exchange data and...
View ArticleUS NYMEX natgas average daily futures, options volumes rise in June
Average daily volume (ADV) in U.S. natural gas futures and options on the New York Mercantile Exchange rose in June from a year earlier, data from its owner CME Group showed. For the month, futures ADV...
View ArticleOil prices slip from multi-month highs on demand concerns
Oil prices edged lower on Thursday, retreating from the previous session’s multi-month highs, with investors taking profits as demand caution remained in focus despite last week’s decline in U.S....
View ArticleMiddle East Crude-Benchmark premiums rise slightly, range tightens
Middle East crude benchmark premiums rose slightly on Thursday, with Dubai benchmarks recovering from a decline on Wednesday. Spot premiums for the three benchmark grades were in the narrower range of...
View Article