Kazakhstan oil output dropped by 20% in October, sources say
Kazakhstan’s average daily oil output in October was down 20% from September, two sources familiar with the data said on Friday, complying with the country’s OPEC+ quota, according to Reuters...
View ArticleMiddle East Crude – Benchmarks premiums fall
Middle East crude benchmark premiums for Dubai, Oman and Murban all tumbled on Friday. ASIA-PACIFIC CRUDE: The official selling price of a basket of October-loading Malaysian Crude Oil (MCO) grades...
View ArticleExxonMobil announces third-quarter 2024 results
Exxon Mobil Corporation today announced third-quarter 2024 earnings of $8.6 billion, or $1.92 per share assuming dilution. Cash flow from operating activities was $17.6 billion and free cash flow was...
View ArticleShell cuts capex guidance, says higher Q3 oil and gas output boosts resilience
Shell on Oct. 31 reined in its 2024 capital expenditure guidance to below its earlier indication of $22 billion-$25 billion and pointed to its lowest debt gearing since 2015 as the industry undergoes a...
View ArticleIn Argentina’s Vaca Muerta shale lands, it’s drill, baby, drill!
Argentina’s new market-friendly government and fears about oil supply from the Middle East and elsewhere are driving a drilling and production boom in Argentina’s Patagonian south, home to the giant...
View ArticleUS Cash Crude-Grades dip as Brent-WTI spread narrows to smallest discount in...
U.S. cash crude prices broadly eased on Friday, dealers said, as the spread between U.S. West Texas Intermediate and Brent crude narrowed to its smallest discount since Sept. 30. A narrower spread...
View ArticleExxon, Chevron top Q3 profit expectations on record high oil output
U.S. oil producers Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) posted better-than-expected third-quarter profits on Friday, outperforming their European rivals, as record high oil production...
View ArticleMed crude-Urals diffs steady, freight rates stall for Asia-bound cargoes
Urals crude differentials to dated Brent remained stable on Friday, as November-loading cargoes of the grade changed hands via private negotiations, market sources said. Freight rates for tankers...
View ArticleNorth Sea Crude-WTI Midland rises, others steady
U.S. WTI Midland crude differentials rose on Friday after a deal, while North Sea Forties and Ekofisk were offered higher without tempting buyers. PLATTS WINDOW Indications are free on board (FOB)...
View ArticleW. Africa Crude-Angolan softer on weak Chinese demand
The trading cycle for Angolan crude loading in December has so far been softer than for November-loading cargoes, traders said, partly due to lacklustre Chinese demand. Over 20 of December’s 36 cargoes...
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 said in its closely followed report on Friday. The...
View ArticleUS oil output hits monthly record high in August, agency says
U.S. oil production rose 1.5% in August to a monthly record high of 13.4 million barrels per day, the U.S. Energy Information Administration said in its monthly oil and natural gas production report....
View ArticleUS ELECTIONS: Oil, biofuel industries weigh uncertain impact of Trump tariffs
The US oil industry could be negatively affected by Donald Trump’s proposed tariffs, which could lead the industry to pass on higher costs of imported crude and production supplies to consumers as...
View ArticleThe Commodities Feed: OPEC+ delays supply increase
Energy – OPEC supply increase delayed Oil prices are trading stronger this morning with ICE Brent up around 1.5% at the time of writing after a handful of OPEC+ members over the weekend decided to...
View ArticleOil gains more than $1 after OPEC+ delays output hike
Oil prices extended gains on Monday, rising more than $1 on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a week that spans a U.S. presidential election...
View ArticleUAE’S ADNOC to deploy autonomous AI in the energy sector for the first time
UAE energy giant ADNOC will apply highly autonomous agentic artificial intelligence in the energy industry for the first time, in partnership with G42, Microsoft and AIQ, its CEO Sultan Al Jaber said...
View ArticleOPEC+ agrees to delay December output hike for one month
OPEC+ has agreed to delay a planned December oil output increase by one month, the group said on Sunday, as weak demand notably from China and rising supply outside the group maintain downward pressure...
View ArticleEni pockets $1 billion from Alaska upstream assets sale
Italian energy group Eni said on Monday it pocketed $1 billion from a planned sale of the Nikaitchuq and Oooguruk upstream offshore assets in Alaska to U.S. private company Hilcorp. Eni disclosed the...
View ArticleMiddle East Crude-Dubai, Oman slide further despite OPEC+ decision to delay...
Middle East crude benchmark premiums for Dubai and Oman fell further on Monday, despite a decision by theOPEC+ to delay by a month its plans to increase output, while that for Murban stabilized. Oil...
View ArticleOPEC oil output rises in October as Libyan supply rebounds, survey finds
OPEC oil output rebounded in October from its lowest this year the previous month as Libya resolved a political crisis, a Reuters survey found, although a further Iraqi effort to meet its cuts pledged...
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