Oil market braces for OPEC decisions as crude prices climb
Crude prices are experiencing upward pressure ahead of the upcoming OPEC+ policy meeting. However, the long-term outlook for oil markets remains uncertain due to the ongoing imbalance between demand...
View ArticleIndonesia Pertamina chief says upstream unit targets 3% rise in oil and gas...
Pertamina Hulu Energi, the upstream unit of Indonesian state energy company Pertamina, is targeting oil and gas lifting of 760,000 barrels of oil equivalent per day in 2025 from its domestic assets,...
View ArticleNew Petrobras CEO pushes offshore oil prospect as matter of ‘national interest’
Petrobras’ new chief executive said a basin in Brazil’s Equatorial Margin, an environmentally sensitive offshore prospect seen as the country’s most promising frontier for oil exploration, was a matter...
View ArticleLibya oil and gas minister resumes work after two-month suspension
Libya’s oil and gas minister resumed work on Tuesday after a suspension for two months pending a legal investigation, the ministry said in a brief statement. Mohamed Oun, oil and gas minister in the...
View ArticleOil prices rise on OPEC+ restraint prospect, weaker U.S. dollar
Global oil prices increased on Tuesday on the expectation that OPEC+ will maintain crude supply curbs at its June 2 meeting, while a weaker U.S. dollar made the commodity more attractive to holders of...
View ArticleWhy does OPEC+ often clash over oil production capacity?
OPEC+ is working to agree oil production capacity for its member countries by the end of 2024, an issue that has created tensions in the past because each nation’s output target is calculated from its...
View ArticleCHINA DATA: May crude throughput unlikely to rebound amid maintenance, weak...
Crude throughputs at China’s refineries are less likely to see a strong recovery in May from a four-month-low in April, amid heavy refinery maintenance coupled with weak demand for oil products,...
View ArticleSaudi Arabia may cut July oil prices to Asia for first time in 5 months
Saudi Arabia, the world’s biggest oil exporter, may cut prices for most crude grades it sells to Asia in July, the first cut in five months, as Middle East benchmarks and margins for Asian refiners...
View ArticleThe Commodities Feed: Oil finds support
Energy – Buzzard field outage Oil prices strengthened further yesterday. ICE Brent rallied 1.35%, taking Brent back above $84/bbl, to its highest level since 1 May. Tensions in the Middle East have...
View ArticleOil prices gain on expectations of OPEC+ extension to output cuts
Oil prices rose on Wednesday on expectations that major producers will extend output cuts at a meeting on Sunday and that fuel consumption will start rising with the start of the peak summer demand...
View ArticleFlows Into European Equities Resume Goldman Says, More Room To Pick Up
Goldman Sachs strategists said that there has been a recent uptick in flows into European equities, marking a long-awaited trend reversal after nearly two years of constant selling since Russia’s...
View ArticleMove to faster stock settlement creates unique hurdles for ETF market
The move to next-day settlement for trading in U.S. securities on Tuesday will require exchange-traded funds (ETFs) and the marketmakers to juggle multiple jurisdictional requirements and capital...
View ArticleConocoPhillips to acquire Marathon Oil Corporation in all-stock transaction;...
ConocoPhillips and Marathon Oil Corporation announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction...
View ArticleMiddle East Crude-Benchmarks soften as trade thins out, market eyes Saudi...
Middle East crude benchmarks eased further on Wednesday as trading momentum thinned out, while refining sources expect Saudi Arabia to cut prices for July barrels to Asia. Dubai’s premium dropped for a...
View ArticleOil storage rise supports case for keeping OPEC+ cuts, sources say
Rising global oil inventories through April due to soft fuel demand may strengthen the case for OPEC+ producers to keep supply cuts in place when they meet on June 2, OPEC+ delegates and analysts say....
View ArticleMexico to resume oil exports to Cuba after 3-month pause -data
Mexico plans to resume oil shipments to Cuba after a three-month pause, shipping data showed on Wednesday, a move that could help ease power outages and worsening fuel scarcity on the island. Cuba...
View ArticleNorway to protect Nordland 6 area from drilling, minister says
Norway’s centre-left government will not open the Arctic Nordland 6 waters for oil and gas exploration, the energy minister told parliament on Wednesday, maintaining a long-held policy of protecting...
View ArticleDespite uncertainties over ExxonMobil arbitration, Hess shareholders...
Hess shareholders May 28 voted to approve a $53 billion acquisition of the large independent upstream oil and gas producer by Chevron, even as uncertainties posed by an arbitration dispute from...
View ArticleUS crude, product inventories seen down last week
U.S. crude oil and product stockpiles were expected to have fallen last week, an extended Reuters poll showed on Wednesday. Six analysts polled by Reuters estimated that crude inventories on average...
View ArticleOil prices steady as solid U.S.crude demand offsets rate concerns
Oil prices were broadly steady as pressure from U.S. data pointing to higher-for-longer rates was offset by inventory numbers showing strong demand for crude in the United States. Ahead of oil...
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