UK investigates 37 breaches of Russian oil sanctions: government
The UK government has 37 open investigations of suspected breaches of sanctions against the Russian oil industry, the country’s finance ministry said. Enforcement of sanctions by the UK and other G7...
View ArticleTotalEnergies expects lower Q3 results amid outages, shrinking refining margins
French oil major TotalEnergies TTEF.PA expects its third-quarter downstream results to sharply decrease due to a 65% drop in refining margins in Europe and elsewhere, the company said on Tuesday amid a...
View ArticleWall St backs down amid mixed earnings, oil extends slide
U.S. stocks turned lower on Tuesday as investors scrutinized a spate of corporate earnings while crude extended its slide due to easing supply worries and weakening demand. The three major U.S. indexes...
View ArticleEnergy market prone to West Asia crisis
In the past three months, central banks in the US, UK, and Europe have started cutting interest rates as inflation moderates. Even in India, there are strong currents that the Reserve Bank of India’s...
View ArticleIndia’s Reliance posts 1% rise in July-Sep crude throughput on year
India’s Reliance Industries Ltd. posted a 1% year-on-year rise in crude throughput to 20.2 million mt (1.6 million b/d) in the July-September quarter, despite its oil-to-chemicals business being hit by...
View ArticleChina’s peak oil demand looms
China guzzled roughly 16.5 million b/d of the world’s oil supply in 2023, all liquids included. As the world’s second-largest oil consumer, accounting for about 16% of global demand, a peak or plateau...
View ArticleIEA sees oil surplus looming, reassures on Iran supply risk
The world oil market is heading for a sizeable surplus in the new year, the International Energy Agency said on Tuesday as it reassured markets that the agency stood ready to act if needed to cover any...
View ArticleGlobal refinery margins fall to multiyear seasonal lows in September
Refinery margins for petroleum refiners across the world are shrinking, indicating reduced profitability from refining crude oil and selling petroleum products. Declining margins are the result of...
View ArticleUS crude stocks expected to increase as runs continue to ease
US crude oil stocks likely continued to climb the week ended Oct. 11, analysts surveyed by S&P Global Commodity Insights said Oct. 14, as runs continued to ease amid turnarounds. Commercial crude...
View ArticleMiddle East supply disruption potential could send oil above $100/bbl, Citi says
Citi Research raised its bull case scenario for oil prices for this quarter and the next one, citing heightened potential of the market to fear or realize supply losses during these months due to...
View ArticleOil steadies after sharp falls as Middle East uncertainty persists
Oil rose in early Asian trade on Wednesday on continued uncertainty over conflict in the Middle East, after falling as much as $5 this week to the lowest levels since early October on demand concerns....
View ArticleQatar lowers Dec al-Shaheen oil term price, sources say
QatarEnergy has trimmed the term price for al-Shaheen crude oil loading in December, trade sources said on Wednesday, tracking spot market levels this month. The December term price was set at $1.93 a...
View ArticleMiddle East Crude-Benchmarks stabilize after 2-session fall
Spot premiums for Middle East crude benchmarks — Oman, Dubai and Murban — stabilized on Wednesday after sliding in the previous two sessions. QatarEnergy has trimmed the term price for al-Shaheen crude...
View ArticleChina’s rapid electrification is catching out oil producers
Over-estimating China’s appetite for crude has been a factor in oil markets this year, especially by OPEC, and it’s a theme that looks likely to continue in coming years. The increasing shift to...
View ArticleIEA: Geopolitical tensions are laying bare fragilities in the global energy...
Regional conflicts and geopolitical strains are highlighting significant fragilities in today’s global energy system, making clear the need for stronger policies and greater investments to accelerate...
View ArticleSaudi companies in talks to invest in Algeria’s oil industry
Saudi Arabia intends to enter Algeria’s oil industry along with other foreign companies sought by the North African nation to develop its hydrocarbon sector, an Algerian official was reported on...
View ArticleOil prices edge higher as Middle East uncertainty persists
Oil prices steadied on Wednesday as uncertainty looms over what may happen next in the Middle East conflict, while an outlook for ample supply next year added downward pressure. Crude fell more than 4%...
View ArticleRussia’s idle oil refining capacity revised up 10% for October, Reuters...
Russia plans to take offline 4.4 million metric tons of refining capacity in October, an increase of 10% from an earlier plan, increasing the amount of crude oil available for export, Reuters...
View ArticleUS energy deals drop in Q3 to $12 billion after year-long frenzy
U.S. oil mergers slowed sharply last quarter after a year-long consolidation wave emptied pocketbooks and left fewer companies on offer in the top U.S. shale field, analytics firm Enverus said. There...
View ArticleIEA sees OPEC holding back 8 million b/d by 2030, squeezing market share
OPEC’s market share could fall to 8 million b/d below its combined output capacity by 2030, the International Energy Agency, underscoring the Saudi-led group’s challenge to defend prices amid shrinking...
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