US election looms as OPEC+ bids to shore up oil market
OPEC+ output policy tends to consider myriad factors, including Chinese demand, non-member crude production, quota busting and volatility — but the US election on Nov. 5 could be just as important for...
View ArticleOPEC+’s again delayed output hike shows soft demand reality
Geopolitical uncertainty will probably garner the lion’s share of the blame for OPEC+’s decision to once again delay raising crude oil output, but weak demand, especially in Asia, is more significant....
View ArticleOPEC positive on global oil demand, sees no peak on horizon
The Organization of Petroleum Exporting Countries (OPEC) is very positive on demand for oil in both the short and long term, Secretary General Haitham Al Ghais said at an energy industry event in Abu...
View ArticleOil market ’adequately supplied’: UAE oil minister
United Arab Emirates Oil Minister Mohammed Al Hamli said the oil market was ”adequately supplied”, the latest official to signal that OPEC is likely to refrain from boosting output at this week’s...
View ArticleSaudi Arabia cuts light oil price to Asia, US
Top world oil exporter Saudi Arabia has cut the official selling price of Arab Light crude in March to customers in Asia and the United States, state oil company Aramco said. The price of Arab Light to...
View ArticleOil trades in tight range ahead of US election result
Oil prices traded in a narrow range on Tuesday ahead of what is expected to be an exceptionally close U.S. presidential election, after rising more than 2% in the previous session as OPEC+ delayed...
View ArticleOil buyers, producers dialogue needed for market stability, says India min
India’s oil minister Hardeep Singh Puri called on Monday for discussions between oil producers and consumers to stabilise prices. Oil prices rose more than 2% following a decision by OPEC+ to delay by...
View ArticleRussian oil and gas revenue jumps 57% m/m in October
Proceeds from oil and gas sales for Russia’s federal budget in October jumped about 57% from September to 1.21 trillion roubles ($12.35 billion), finance ministry data showed on Tuesday, thanks to the...
View ArticleSaudi Aramco reports 15% drop in Q3 profit but maintains dividend
Saudi oil giant Aramco on Tuesday reported a 15.4% drop in third-quarter profit due to lower crude prices and weaker refining margins, but maintained its generous dividend at $31.1 billion for the...
View ArticleShort-term investment bias adds to Africa’s oil financing woes
Increasingly polarized oil demand forecasts have added to Africa’s upstream investment challenges by reducing investor tolerance for long-term projects, industry experts told delegates at Cape Town’s...
View ArticleTrade of the week: short WTI crude oil
WTI front month crude oil futures are nearing key technical resistance we would like to go short in with a stop loss at 72.50 and a downside target in the 67.00 region. IG’s Trade of the week presented...
View ArticleMiddle East Crude-Benchmark premiums rise
Middle East crude benchmark premiums for Oman, Dubai and Murban ticked up on Tuesday. Oil prices traded in a narrow range on Tuesday ahead of what is expected to be an exceptionally close U.S....
View ArticleUS ELECTIONS: Geopolitical risks, key policy concerns top of mind for oil...
Geopolitical risks are top of mind for oil companies’ CEOs concerned about global energy security as two wars in the Middle East and a standoff between the US and China risk flaring up, the heads of...
View ArticleGunvor boss sees little oil demand growth
The chairman and co-founder of Gunvor, one of the world’s largest oil traders, said on Tuesday there is little growth in oil demand and the industry is probably over-investing somewhat. Oil demand...
View ArticleOPEC October Oil Output Rises By 190,000 Bpd From Sept To 26.33 Million Bpd
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...
View ArticleOil prices edge up on weak dollar ahead of US election results
Oil prices edged up about 1% to a one-week high on Tuesday ahead of what is expected to be an exceptionally close U.S. presidential election, after rising more than 2% in the previous session as OPEC+...
View ArticleTotalEnergies Energy Outlook 2024
To contribute to the public debate on the energy transition, TotalEnergies is publishing the 6th edition of its “TotalEnergies Energy Outlook”, which presents three scenarios for the possible evolution...
View ArticleDiscount on Western Canada Select heavy crude widens
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Monday: * WCS for December delivery in Hardisty, Alberta,...
View ArticleChina’s refining output set to fall this quarter on thin margins, weak demand
Chinese refiners are expected to reduce fuel output for the rest of the year and maintain lower run rates in the first quarter of 2025 despite a seasonal demand uptick, as profit margins and fuel...
View ArticleLNG futures traded volumes, end-month open interest in Oct reach new highs
Traded volumes and end-month open interest for the JKM LNG futures cleared on the Intercontinental Exchange (ICE) reached new highs in October as the market prepared for the winter season, according to...
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