Exxon consortium’s Guyana oil output drops to some 450,000 bpd, gov data says
An Exxon Mobil production consortium’s crude output in Guyana fell to between 400,000 and 500,000 barrels per day from July 2 through the end of the month, according to government data seen by Reuters...
View ArticleShell to balance oil and gas business with accelerated low carbon offerings
The India CEO Series by S&P Global Commodity Insights is a compilation of exclusive interviews by Sambit Mohanty, Asia Energy Editor, with some of the leaders of the biggest energy companies in...
View ArticleMiddle East Crude-Dubai benchmark eases; two Upper Zakum deliveries emerge
Middle East crude benchmark Dubai retreated after hitting a month’s high last week, while two more Upper Zakum cargo deliveries emerged on Monday. However, IFAD Murban’s premium to Dubai quotes...
View ArticleExxon forecasts 2050 oil demand to match today’s, 25% above BP estimate
Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today’s levels, a forecast 25% higher than top European rival BP. The...
View ArticleOil prices to remain elevated as Middle East tensions threaten a wider...
Tensions in the Middle East and the risk of a wider conflict will keep oil prices elevated, said Vivek Dhar, mining and energy commodities strategist at the Commonwealth Bank of Australia. Oil prices...
View ArticleOil climbs 3% on Mideast tensions, Libya output cuts
Oil prices rose nearly 3% on Monday as supply concerns sharpened on reports of escalating conflict in the Middle East as well as production cuts in Libya. Brent crude futures climbed $2.28, or 2.89%,...
View ArticleEurope draws record diesel supplies as refiners continue to run near capacity
Europe is bracing for record diesel inflows in August as refiners running near capacity have sought export outlets, though signs of inventories piling up show demand is struggling to keep pace....
View ArticleEurope gas prices vulnerable to Ukraine transit stop, says TotalEnergies CEO
The future of Russian gas transit through Ukraine remains a key uncertainty for European gas prices, even as the continent heads into the winter with full storages, the CEO of TotelEnergies told...
View ArticleOil slips after surge on Libyan outages and Middle East risk
Oil prices slipped slightly on Tuesday after rebounding more than 7% over the previous three sessions on supply concerns prompted by fears of widening Middle East conflict and potential shutdown of...
View ArticleThe Commodities Feed: Libyan oil supply disruption
Energy – Oil rallies on Libyan disruption Oil prices broke back above US$81/bbl yesterday, rallying more than 3%. This is after reports that Libyan oil production will be halted due to political...
View ArticleOil pauses gains after surging on Libyan outages, Middle East tension
Oil prices paused recent advances to trade in a range on Tuesday, after a surge of more than 7% in the previous three sessions, on supply concerns prompted by fears of a wider Middle East conflict and...
View ArticleUS seeks about 3.6 million barrels of oil for SPR, Energy Department says
The U.S. is seeking to buy about 3.6 million barrels of domestically produced crude oil to help replenish the Strategic Petroleum Reserve, a Department of Energy document said on Monday. The sour...
View ArticleLibyan oilfield closures spread amid standoff between rival governments
Several oilfields across Libya have halted output as closures spread, engineers said on Tuesday, amid a dispute over control of the central bank and the country’s oil revenue. On Monday authorities in...
View ArticleEgypt announces tender for oil and gas exploration, ministry says
Egypt’s petroleum ministry on Tuesday announced an international tender seeking bids for natural gas and crude oil exploration in the Mediterranean Sea and the Nile delta, 10 offshore blocks and two...
View ArticleMiddle East Crude-Benchmarks mixed; Dubai, Upper Zakum to be delivered
Middle East crude benchmarks were mixed on Tuesday while two more cargo deliveries emerged for October, including a Dubai and an Upper Zakum cargo. Spot premium for Dubai was little changed, inching a...
View ArticleLibya’s eastern government vows total oil shutdown
Libya’s eastern government plans to stop all oil production and exports nationwide, it said Aug. 26, amid a row over the fate of the central bank’s Gov. Siddiq al-Kabir, with the country’s largest oil...
View ArticleUS crude, fuel stockpiles seen down last week
U.S. crude oil and product inventories were expected to have fallen last week, a preliminary Reuters poll showed on Monday. Four analysts polled by Reuters estimated, on average, that crude inventories...
View ArticleOil prices fall 2% on economic worries, technical decline
Oil prices fell about 2% on Tuesday on worries that slower economic growth in the U.S. and China could reduce demand for energy, especially after prices surged over 7% during the prior three days....
View ArticleHarris has little to say about oil and gas these days. Experts explain why
Vice President Kamala Harris hasn’t said much about her position on oil and gas since becoming the presumptive, and now official, Democratic nominee for president. That’s likely by design, say industry...
View ArticleGoldman Sachs cuts 2025 average Brent forecast by $5/bbl
Goldman Sachs cut its average 2025 Brent forecast and range for prices by $5 per barrel saying unexpectedincreases in oil inventories and slow China demand is likely to weigh on the market. The bank...
View Article