Iraq’s excessive oil output poses challenges for OPEC
Iraqi oil has fallen short of its potential so many times that it has become easy to overlook its impact. But recently, Opec decided to pause its planned production increase, and one major factor was...
View ArticleOil steadies, but heads for weekly drop on firmer supply outlook
Oil prices recouped losses on Friday to edge higher, but stayed on track for a weekly fall as investors weighed expectations for increased output from Libya and the broader OPEC+ group against fresh...
View ArticleNorth Sea benchmark oil supply to hold steady in November
Supply of the five North Sea crude oil grades underpinning the dated Brent benchmark will average about 606,000 barrels per day in November, compared with 610,000 bpd in October, loading programmes...
View ArticleMexico’s Pemex posts drop in oil production as Lopez Obrador exits
Crude output by Pemex PEMX.UL fell in August as Mexico’s national oil company failed to reduce fuel imports in line with company targets, while overall falling well short of the lofty energy trade...
View ArticleOil steady but set for weekly drop on higher supply outlook
Oil prices were steady on Friday, but remained on track for a weekly fall as investors weighed expectations for higher global supply against fresh stimulus from top crude importer China. Brent crude...
View ArticleMiddle East Crude-Benchmarks gain as more window deals emerge
Middle East crude benchmarks Oman and Dubai both gained, with Trafigura going to deliver more November spot cargoes after deals on the window despite mixed supply-demand outlooks. Trafigura will...
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. Sorokin said that Russia did not want to...
View ArticleNorway’s Castberg project heralds new impetus in Arctic oil and gas
Norway’s soon-to-be-launched Johan Castberg oil field is the next stage in an industry expansion in the Barents Sea that requires more exploration and potentially a new gas pipeline from the Arctic to...
View ArticleKazakhstan’s oil and gas industry: navigating delays and future prospects
The oil and gas industry is vital to Kazakhstan’s economy, accounting for 50% of total exports and 30% of tax revenues in 2022. After a 6.8% increase in liquids production in 2023, rebounding from...
View ArticleCOP hosts aim for 33% increase in combined oil and gas production by 2035
Azerbaijan, the UAE, and Brazil — the past, current, and next hosts of the UN climate conference — are set to increase their combined oil and gas production by 33 per cent by 2035, contradicting their...
View ArticleUS drillers cut oil and gas rigs for second week in a row – Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and...
View ArticleUS Cash Crude-Grades mixed on weakened refinery demand, lower rig count
U.S. cash grades were mixed on Friday, dealers said, as refining demand is set to fall while the domestic oil rig count also dipped. U.S. oil refiners are expected to have about 1.09 million barrels...
View ArticleThe Commodities Feed: Further China support measures
Energy – Oil market shrugs off Middle East escalation The oil market’s response to developments in the Middle East over the weekend has been somewhat muted. The market has become increasingly numb to...
View ArticleLibya’s oil output, exports to resume after deal on central bank head
A month-long oil shutdown in Libya looks set to end within days after rival political factions agreed to appoint a new central bank governor Sept. 26, while crude loadings looked to have resumed at a...
View ArticleIndia to be among global oil demand growth drivers in 2023-2050 – OPEC
India is expected be a major driver of global long-term oil demand growth through to 2050, alongside the Middle East and Africa, OPEC said in a report. These regions were identified as the “key sources...
View ArticleUS Gulf Coast oil prices to take center stage as exports dominate
Rising U.S. crude oil exports are boosting the prominence of Gulf Coast price benchmarks and buoyingtrading volumes on Houston contracts, eroding the significance of the Cushing, Oklahoma, storage hub....
View ArticleOil prices climb on fears of Middle East conflict escalation
Oil prices rose for a second consecutive session on Monday, with concerns escalating over potential supply disruptions in the Middle East after Israel stepped up attacks on Palestianian militant group...
View ArticleMiddle East Crude-Dubai, Oman premiums ease to below $2
Middle East crude benchmarks rose on Monday, the final trading day of September, though spot premiums for Dubai and Oman eased to below $2 a barrel. Spot premiums for Dubai, Oman and Murban, however,...
View ArticleBig US oil companies reveal massive payments to foreign governments
The three largest U.S. energy exploration companies paid more than $42 billion to foreign governments last year, about eight times more than what they paid in the United States, according to regulatory...
View ArticleAsia Distillates-Spot diesel market extends recovery
Asia’s spot diesel market extended recovery into the final trading day of the month, supported by expectations of lower volumes loading out from China next month. The 10ppm sulphur gasoil spot...
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