Saudi Aramco CEO ‘fairly bullish’ on China oil demand
Saudi Aramco is “fairly bullish” on China’s oil demand especially in light of the government’s stimulus package which aims to boost growth, the head of the state-owned oil giant said. “We see more...
View ArticleIEA sees surplus oil supply, weak China demand in 2025
China’s oil demand growth is expected to remain weak in 2025 despite recent stimulus measures from Beijing as the world’s No. 2 economy electrifies its car fleet and grows at a slower pace, the head of...
View ArticleOil prices dip as Blinken arrives in Israel for talks, China demand weighs
Oil prices steadied near $74 a barrel on Tuesday as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East and as slowing demand growth in China, the world’s top oil importer,...
View ArticleThe Commodities Feed: Middle East uncertainty lingers
Energy – Geopolitical risks linger Oil markets strengthened yesterday with ICE Brent settling almost 1.7% higher on the day. Lingering tension in the Middle East continues to provide support as the...
View ArticleMiddle East Crude-Benchmarks tick up
Middle East crude benchmark premiums for Dubai, Oman and Murban gained on Tuesday, all reversing declines from the prior session. ASIA-PACIFIC CRUDE: Taiwan’s CPC issued a tender seeking sweet crude...
View ArticleOil prices rise on China stimulus amid Mideast ceasefire push
Oil prices rose to $75 a barrel on Tuesday, extending gains from the previous session as investors weighed the impact of China’s stimulus measures to boost its economy, while concerns over conflict in...
View ArticleIndian oil minister hopes global oil prices will come down
India’s oil minister hopes that global oil prices will come down despite geopolitical tensions as more supplies are coming into the market. There is no shortage of oil in the world as more supplies are...
View ArticleAsian gasoil prices may rise on lower Oct South Korea exports amid refinery...
Asian gasoil prices could rise toward the end of October, as South Korean exports are expected to decline due to refinery run rate cuts and a possible rise in prompt demand, market participants...
View ArticleFour new petroleum liquids pipelines have been completed in the United States...
Since 2023, pipeline companies have completed four new petroleum liquids pipeline projects in the United States—three crude oil pipeline projects and one hydrocarbon gas liquids (HGL) project—according...
View ArticleAs US Permian crude turns lighter, it risks losing favor with refiners
Companies drilling for the crude that turned the U.S. into the world’s top oil producer face an unexpected dilemma: their West Texas Midland crude is getting lighter, which could make it less appealing...
View ArticleAPI shows rise in US crude, drop in fuel stocks last week, market sources say
U.S. crude oil stocks rose last week while gasoline and distillates fell, market sources said, citing American Petroleum Institute figures on Tuesday. Crude stocks rose by 1.64 million barrels in the...
View ArticleEurope avoids gas price volatility in Q3 despite supply uncertainty: ACER
Europe avoided “severe” gas price volatility in the third quarter of 2024 despite the re-emergence of supply uncertainties, European regulatory body ACER said Oct. 22. In its latest quarterly market...
View ArticleOil slips on higher US crude stocks; market watches Middle East
Oil prices fell on Wednesday after industry data showed U.S. crude inventories swelled more than expected, though crude futures were still up about 3% this week as traders factored in continuing...
View ArticleThe Commodities Feed: Chinese oil import quota increased
Energy – China increases oil import quota Oil prices finished yesterday stronger on the back of little fresh developments. ICE Brent settled almost 2.4% higher on the day, taking it back above $76/bbl....
View ArticleMiddle East Crude-Benchmarks slide, Oman at 3-week low
Middle East crude benchmark premiums for Dubai, Oman and Murban declined on Wednesday, with that for Oman hitting an over three-week low. Taiwan’s Formosa Petrochemical has bought 4 million barrels of...
View ArticleUS crude, gasoline inventories rise, distillates draw down, EIA
U.S. crude oiland gasoline inventories rose while distillate inventories fell last week, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 5.5 million barrels to...
View ArticleGoldman sees oil prices holding around $76/bbl in 2025 on ample supply
Goldman Sachs expects oil prices to average $76 a barrel in 2025 based on a moderate crude surplus and spare capacity among major producers, with concerns easing over a potential disruption in Iranian...
View ArticleIndia to consider ending windfall tax on crude, says govt official
India’s finance ministry will take a view on scrapping windfall tax on local crude oil output, Tarun Kapoor, advisor to the Indian prime minister, said on Wednesday. The imposition of windfall tax on...
View ArticleOil slips 1% on large build in US crude stocks; market watches Middle East
Oil prices fell on Wednesday after data showed U.s. crude inventories rose by more than expected even as refining activity rebounded, though futures remained up about 2% this week as traders factored...
View ArticleWestwood Insight – Impending shortage of jackups within ageing Asia Pacific...
While utilisation for marketed jackup rigs is at a healthy 100% in the Asia Pacific (APAC) region, it is an ageing fleet that will ultimately be unable to fulfil operator age requirements. Westwood’s...
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