The Commodities Feed: US oil inventories fall
Energy – Bullish API numbers ICE Brent prices are unchanged as the market cautiously evaluates the Middle East scenarios. Recent reports suggest that tropical storm Helene strengthened as it moved...
View ArticleOil falls despite China’s stimulus plan; US crude stocks draw limits losses
Oil prices edged lower on Wednesday as investors reassessed whether China’s latest stimulus plans will be sufficient to boost its economy and spur fuel demand. Still, falling crude inventories in the...
View ArticleOPEC is highly bullish on long-term oil demand growth. Not everyone agrees
Global benchmark Brent crude falling below $70 a barrel in early September — its lowest in 33 months — is terrific news for consumers, who will consequently see lower prices at the pump. It’s also the...
View ArticleCountries can transform the global energy sector by fully implementing the...
Full implementation of the landmark energy goals established at the COP28 climate conference in Dubai last year would drive down greenhouse gas emissions and significantly accelerate the transformation...
View ArticleOil prices fall over 2% on prospects Saudi Arabia to raise output
Oil prices slumped onThursday, reversing earlier gains, on newsSaudi Arabia, the world’s biggest crude exporter, will give up on itsprice target in preparation for raising output. Brent LCOc1 crude...
View ArticleThe Commodities Feed: Oil drops on rising supply prospects
Energy – Oil sell-off continues Oil prices continued to trade lower this morning extending yesterday’s sharp decline. NYMEX WTI prices fell below US$68/bbl while ICE Brent was trading around US$71/bbl....
View ArticlePutin lauds cooperation with OPEC+, BRICS
Russian President Vladimir Putin said on Thursday that the vast domestic energy sector will be able to achieve its goals and overcome “illegal” western sanctions, while also praising ties with BRICS...
View ArticleKazakhstan pledges OPEC+ fealty even as Tengiz output set to climb
Kazakhstan has no plans to curb the expected production increase from its highest-producing oil field, Tengiz, in 2025, but it is ready to make a “correction” to national production plans if conditions...
View ArticleMiddle East Crude-Benchmarks mixed as supply-demand concerns persist
Middle East crude benchmarks Oman and Dubai were mixed on Thursday amid thin window trade, following news of possible increase in supplies from December while the demand outlook remained cautious....
View ArticleCrude prices drop again as Saudi and Libya supply concerns grow
Crude oil’s failed attempt to join the China stimulus-led rally seen among other commodities sectors this past week highlights a market where the focus has switched away from an improved demand outlook...
View ArticleBRICS to discuss energy markets at Moscow meeting, with de-dollarization in...
Some of the world’s biggest commodities producers and suppliers are set to discuss energy markets during a meeting of BRICS energy ministers scheduled to take place during Russian Energy Week Sept. 26....
View ArticleSaudi Aramco raises $3 billion from second debt sale since July
State oil giant Saudi Aramco 2222.SE has raised $3 billion from two-part Islamic bonds, or sukuk, tapping the debt markets for the second time this year as it expects to pay huge dividends, mainly to...
View ArticleBrooge Energy’s suitor eyes its Fujairah crude, oil products storage capacity
Dubai’s Gulf Navigation announced board approval of its planned acquisition of Brooge Energy, noting that Brooge intends to double its existing 1 million cubic meters of storage space for oil products...
View ArticleRussia forecasts ‘serious’ oil growth demand potential to 2050
Russia expects “serious” growth potential in global oil demand through to 2050 and is ready to supply additional barrels, its Deputy Energy Minister Pavel said on Thursday. Sorokin said that Russia did...
View ArticleWhat’s Putting Crude Oil Prices Under Pressure?
Crude oil prices fell sharply in late August and early September. Does this mean that oil is a bargain? The answer is complex. For starters, OPEC+ has taken 3.6 million barrels per day off of the...
View ArticleOPEC+ set to go ahead with Dec oil output hike, sources say
The Organization of the Petroleum Exporting Countries and its allies will go ahead with a planned oil production increase in December but first need to cut output to address overproduction by some...
View ArticleOil prices slide 3% on prospect of more OPEC+ oil
Oil prices fell more than 3% on Thursday on a Financial Times report that Saudi Arabia, the world’s top crude exporter, will give up its $100 price target in preparation for raising output, along with...
View ArticleSingapore’s middle distillates stocks fall despite higher jet fuel imports
Singapore’s middle distillates inventories plunged below 10 million barrels for the first time in more than two months despite the city-state turning a net importer of jet fuel/kerosene for the week,...
View ArticleSaudi Arabia to drop $100 crude target to win back market share
Saudi Arabia is preparing to abandon its unofficial $100 a barrel oil price target as it gets ready to raise output to win back market share, even if it means lower prices, the Financial Times...
View ArticlePessimism pervades oil, gas sectors due to US election uncertainty, lower...
A curtain of pessimism appears to have settled over the US oil and gas industry in the third quarter as presidential election uncertainties loom and operators weather a challenging commodity price...
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