Kazakhstan to cut 2024 oil output target, energy minister says
Kazakhstan will cut its oil output target for this year from the current 90.3 million metric tons due to some maintenance breaks at local oilfields taking longer than expected, Energy Minister...
View ArticleOil trader Litasco hires traders, lines up credit to rebuild Americas arm,...
Swiss-based energy trader Litasco is hiring experienced traders and has lined up credit lines to revive its business in the Americas that withered after Russia invaded Ukraine in 2022, three sources...
View ArticleUS gasoline stockpiles hit 2-year low on stronger demand, EIA says
U.S. gasoline stockpiles fell unexpectedly last week to a two-year low on strengthened demand, the Energy Information Administration (EIA) said on Wednesday, while crude inventories also posted a...
View ArticleCrude oil’s Middle East risk premium fades, demand woes remain
For those seeking an answer to the question as to what the Middle East conflict risk premium is in the price of crude oil, the 5.3% drop in Brent futures early on Monday provides some enlightenment....
View ArticleOil rises 2% as US stockpiles drawdown, OPEC+ mulls output hike delay
Oil prices rebounded on Wednesday, rising more than 2% after data showed U.S. crude and gasoline inventories fell unexpectedly last week and on reports that OPEC+ may delay a planned oil output...
View ArticleGulf Coast diesel rises on buyer demand
Cash differentials for diesel gained on Tuesday in the U.S. Gulf Coast spot market as multiple buyers bid for supplies, traders said. Gulf Coast 62-grade ULSD ULSD-DIFF-USG gained 1.85 cents, trading...
View ArticleOPEC+ could delay planned December oil output hike, sources say
OPEC+ could delay a planned hike in oil production scheduled to take effect in December by a month or more, three sources told Reuters, citing concern about soft oil demand and rising supply. The...
View ArticleOil prices rise on optimism over solid US fuel demand
Oil prices edged up on Thursday, extending the previous day’s rally, driven by optimism over U.S. fuel demand following an unexpected drop in crude and gasoline inventories, while reports that OPEC+...
View ArticleGlobal market for key clean technologies set to triple to more than $2...
First-of-its-kind IEA analysis shows complex interplay between energy, industrial and trade policies as countries seek to secure supply chains and economic opportunities The rapid uptake of clean...
View ArticleSluggish demand, supply glut worries to weigh on oil in 2025
Concerns around demand from top consumer China, prospects of higher supply from key producers and easing geopolitical risks are likely to weigh on oil prices this year and next, a Reuters poll...
View ArticleUS oil output hits monthly record high in August, EIA says
U.S. oil production rose 1.5% in August to a monthly record high of 13.4 million barrels per day (bpd), the U.S. Energy Information Administration (EIA) said in its monthly oil and natural gas...
View ArticleChevron CEO under pressure to halt share slide as Hess deal stalls
Five years ago, Chevron CEO Michael Wirth won Wall Street acclaim as the No. 2 U.S. oil company briefly achieved a market value larger than Exxon Mobil’s after he refused to get into a bidding war with...
View ArticleShell Q3 profits of $6 bln beat forecast as gas offsets weak refining
Shell reported on Thursday third quarter profits of $6 billion that exceeded forecast by 12% as weaker refining and oil trading results were offset by higher gas sales. Shell’s adjust earnings, its...
View ArticleSingapore distillates stocks gain after four weeks despite net exports
Singapore’s middle distillates stocks gained for the first time in four weeks to almost 9.4 million barrels, despite net exports of diesel and jet fuel both climbing week on week, official government...
View ArticleUS, Northwest Europe extend blue ammonia premium to Asia in September
Platts-delivered blue ammonia prices in the US and Northwest Europe extended their premium to Asia in September, tracking gains in conventional ammonia markets amid supply constraints in the Middle...
View ArticleWhat impact will Israel’s retaliatory strikes on Iran have on oil markets?
Israel’s retaliatory attacks on Iran are expected to have a “muted impact” on oil markets as they avoided oil facilities, the targeting of which could have caused supply disruptions from the Opec...
View ArticleOil climbs more than $1 on reports of Iran preparing strike on Israel
Oil prices extended gains on Friday, climbing more than $1 a barrel to pare weekly losses, after reports Iran was preparing a retaliatory strike on Israel from Iraq in the coming days. Brent crude...
View ArticleUS oil and gas rig count unchanged this week, Baker Hughes says
U.S. energy firms kept the number of oil and natural gas rigs operating unchanged for a second week in a row, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed...
View ArticleSaudi Arabia may cut December oil prices for Asia, sources say
Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia in December, tracking weakness in Middle East benchmark Dubai, trade sources said. Price cuts for Saudi oil...
View ArticleChevron reports third quarter 2024 results
Chevron Corporation (NYSE: CVX) reported earnings of $4.5 billion ($2.48 per share – diluted) for third quarter 2024, compared with $6.5 billion ($3.48 per share – diluted) in third quarter 2023....
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