API Weekly Crude Stock shows unexpected decline, signaling stronger demand
The American Petroleum Institute (API) has released its Weekly Crude Stock report, revealing an unexpected drop in inventory levels of US crude oil, gasoline, and distillates stocks. The actual number...
View ArticleOil prices flat as investors await US inventory data
Oil prices were broadly flat on Thursday as investors waited on developments in the Middle East, the release of official U.S. oil inventory data and details on China’s stimulus plans. Brent crude...
View ArticleThe Commodities Feed: Oil holds steady
Energy – API reports oil inventory draws NYMEX WTI hovered near $70/bbl while ICE Brent was trading just below $75/bbl this morning as market participants await fresh updates from the Middle East....
View ArticleMiddle East Crude-Oman, Dubai fall slightly, Murban up
Middle East crude benchmark premiums for Oman and Dubai dipped on Thursday, while that for Murban ticked up. Thai refiner IRPC is closing a tender on Thursday to buy December-loading sour crude....
View ArticleHeightened Egyptian demand in tight market buoys European fuel oil prices
A spike in Egyptian imports of fuel oil used for power generation has coincided with lower supply in Europe, helping to push refiners’ profit margins for the fuel to their highest in over a year,...
View ArticleRussian Urals oil price inch below price cap on cheaper Brent
Russia’s Urals prices were below the Western price cap level of $60 per barrel on Tuesday and Wednesday after a fall in global oil prices, Reuters calculations showed on Thursday. Urals prices in...
View ArticleUS crude output hits record high, oil stockpiles fall, EIA says
U.S. crude oil production hit a record high last week, the Energy Information Administration said on Thursday, while crude, gasoline and distillate inventories fell. Crude inventories fell by 2.2...
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 ArticleIraq seeks western investment to cut flaring, boost gas output: deputy oil...
Iraq, a major gas flaring offender, is seeking investment, particularly from American and Western firms, in its associated gas sector to reduce flaring and boost production, the country’s Deputy...
View ArticleAdvancements in robotics continue to transform oil and gas operations, says...
With the applications of robotics continuously evolving, the oil and gas industry has emerged as a significant adopter of the technology to improve safety and efficiency of operations. Robots equipped...
View ArticleEgyptian LNG Q1 2025 procurement could tighten European LNG market: analysts,...
Imports of liquefied natural gas into Egypt at the start of 2025 due to ongoing domestic constraints could further tighten the European market as Europe looks to replace lost Russian gas volumes...
View ArticleUS ELECTIONS: US LNG sector to navigate uncertainties with Harris or Trump
The 2024 presidential election carries risks and unknowns for US LNG project development, whether Vice President Kamala Harris is elected or former President Donald Trump returns to the Oval Office....
View ArticleOil steadies, but on track for biggest weekly loss in over a month
Crude oil futures steadied on Friday after strong U.S. retail sales data and the emergence of more fiscal stimulus to boost China’s economy, though prices were still headed for their biggest weekly...
View ArticleU.S. capacity to produce biofuels increased 7% in 2023
Capacity to produce biofuels increased 7% in the United States during 2023, reaching 24 billion gallons per year (gal/y) at the start of 2024, led by a 44% increase in a category we call renewable...
View ArticleNorth Dakota Oct. oil output estimated down by 500,000 barrels, state regulator
Oil output in North Dakota, the third-largest producing state in the U.S., is estimated to have fallen by around 500,000 barrels through October, after wildfires crossed into key producing counties...
View ArticleSaudi Arabia’s crude production climbs 0.83% to 8.99m bpd: JODI
Saudi Arabia’s crude oil production increased to 8.99 million barrels per day in August, marking a 0.83 percent rise compared to the same month last year, according to the latest data from the Joint...
View ArticleChevron, NNPC make Niger Delta oil find
Chevron and state-owned Nigerian National Petroleum Company have made a new oil discovery in the Niger Delta, the US energy company said, as fellow IOCs race to exit the troubled region. The...
View ArticleOil prices are forecast to average $80/bbl in the last quarter of 2024
Key takeaways Since the outbreak of the conflict in Gaza last October, spikes in oil prices have been short-lived as oil production has largely been undisrupted — but this could change if Iranian...
View ArticleOil prices set for biggest weekly loss in over a month on demand worries
Oil futures dropped on Friday as they headed for a roughly 7% weekly drop as China’s economic growth slowed and threats to supply abated in the Middle East. Brent crude futures fell 89 cents, or 1.2%,...
View ArticleUS Cash Crude-Grades mixed as future output and demand set to rise
U.S. crude grades pulled in different directions on Friday, dealers said, after the domestic rig count edged up while refining demand is expected to tick higher. The U.S. oil rig count, an early...
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