A ‘tidal wave’ of natural gas supply — the biggest yet — will reshape global...
The biggest influx of liquefied natural gas, or LNG, supply is coming online and it will transform the global market, bringing about wide and enduring effects, said RBC Capital Markets. “A wave of new...
View ArticleFestivals, agriculture, elections set to boost India’s oil products demand in Q4
India’s appetite for oil products in the October-December quarter is set to get a boost from the upcoming festival season as well as the agricultural season, recovering from a few months of subdued...
View ArticleThe Commodities Feed: Supply risks subside for now
Energy – SPR refill The oil market came under significant pressure yesterday as the market digested Israel’s long-awaited response to Iran’s recent missile attack. ICE Brent settled more than 6% lower...
View ArticleOil prices little changed though US reserve bid lends support
Oil prices inched up on Tuesday after tumbling 6% in the previous session, as a U.S. plan to buy oil for the Strategic Petroleum Reserve (SPR) provided some support though wider concerns about weaker...
View ArticleUS seeks up to 3 million barrels of oil for emergency reserve
The U.S. on Monday said it is seeking up to 3 million barrels of oil for the Strategic Petroleum Reserve for delivery through May next year, a purchase that would leave the government with little money...
View ArticleMiddle East Crude-Dubai, Oman’s premiums slump; Total buys another 2 cargoes
Spot premiums for Middle East crude benchmarks Oman and Dubai slumped in volatile trade towards the end of the month, while Murban’s premium climbed for a second session. SINGAPORE CASH DEALS Cash...
View ArticleEni, BP drilling for oil onshore Libya after 10-year hiatus: NOC
European energy majors Eni and BP have resumed onshore exploration activities in Libya after a 10-year hiatus, the country’s National Oil Corporation said, as the key sector continues to strengthen...
View ArticleCNOOC Limited Achieves Record High Net Production and Net Profit in Q3 2024
CNOOC Limited (the Counter) and 80883 (RMB Counter), SSE: 600938) today announces its operating results for the third quarter of 2024. In the first three quarters of 2024, CNOOC Limited continued to...
View ArticleBrazil’s Petrobras Q3 oil production down 8.2%
Oil giant Petrobras’ oil output in Brazil was down 8.2% year-on-year in the third quarter, to 2.13 million barrels per day (bpd), the state-controlled company said. Petrobras also posted a 6.5%...
View ArticlePetroChina’s Q3 profit down 5.3% on fuel sales decline, lower oil prices
Asia’s largest oil and gas producer PetroChina Co Ltd reported a 5.3% year-on-year decline in third-quarter net profit as weaker fuel sales and lower oil prices outweighed growing gas and oil output....
View ArticleUS crude oil inventories expected higher amid slower refinery runs
US crude oil inventory builds likely extended in the week ended Oct. 25, according to an S&P Global Commodity Insights survey of analysts, amid an expected downturn in refinery demand. US...
View ArticleSaudi energy minister commits to crude capacity levels and climate targets
Saudi Arabia is “committed” to maintaining crude capacity at 12.3 million barrels per day, Energy Minister Prince Abulaziz bin Salman said on Tuesday. Speaking at the Future Investment Initiative (FII)...
View ArticleU.S. energy production has increased faster than energy consumption over the...
In October 1974, in the wake of the 1973 Oil Embargo, the Federal Energy Administration—the predecessor of the U.S. Department of Energy—published the first issue of the Monthly Energy Review (MER), an...
View ArticleOil extends losses on report of talks to end Lebanon war
Oil prices edged down on Tuesday, after a 6% tumble in the previous session, on a report that Israeli Prime Minister Benjamin Netanyahu will hold a meeting for a diplomatic solution to the war in...
View ArticleIndian refiners’ September crude processing rises over 4% year-on-year
Indian refiners’ throughput in September rose more than 4% year-on-year, but eased on a monthly basis, provisional government data showed. Refinery throughput in September was at 5.17 million barrels...
View ArticleRefining margins dismal as China weighs on oil demand, BP CEO says
Global refining margins are dismal as global oil demand growth remains below average due to sluggish economic activity in China, BP CEO Murray Auchincloss said. “Global oil demand is a little bit below...
View ArticleAramco CEO says oil market balanced, sees average demand of 104.5 mln bpd in...
The oil market is currently balanced and demand is expected to average 104.5 million barrels per day this year, the CEO of Saudi Arabian oil giant Saudi Aramco said. “I think the market is currently...
View ArticleAPI weekly crude stock dips, signaling increased demand for US petroleum
The American Petroleum Institute (API) has released its Weekly Crude Stock report, showing a notable decrease in US crude oil, gasoline, and distillates stocks. The actual number reported was a decline...
View ArticleOil hovers near one-month lows with supply drivers back in focus
Oil prices held steady near one-month lows on Wednesday, after sliding in the previous two sessions, as markets weighed a potential ceasefire between Israel and Hezbollah and rising OPEC+ crude...
View ArticleMiddle East Crude-Dubai and Murban jump, Oman slides
Middle East crude benchmark premiums for Dubai and Murban rose on Wednesday, while that for Oman declined for a third consecutive session. SINGAPORE CASH DEALS Cash Dubai’s premium to swaps rose 78...
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