Trump’s victory may pressure oil prices through 2025, Citi says
Citi forecasted that U.S. President-elect Donald Trump’s second term could exert downward pressure on oil through 2025, with Brent crude forecasted to average at $60 per barrel, primarily due to...
View ArticleVitol CEO sees $70-$80/bbl oil prices in 2025, flags supply uncertainty
Global oil prices are expected to stay in the $70 to $80 per barrel range in 2025, similar to 2024, while geopolitical risks create uncertainty around supply,Russell Hardy, CEO of Vitol, the world’s...
View ArticleOil steadies as investors digest US election fallout
Oil prices stabilized on Thursday, hovering around flat the day after an extremely volatile session, pressured by a strong dollar and lower crude imports in China but supported as some U.S. drillers...
View ArticleChina will continue to play key role in global oil demand, Vitol exec says
China will continue to have an important role in global oil demand despite the peaking of fuel consumption in its road transportation sector amid energy transition, Vitol’s global head of research,...
View ArticleEquinor strengthens its position in the Norwegian Sea
Equinor has signed an agreement to acquire Sval Energi’s 11.8% share in the Halten East Unit. With this acquisition, Equinor increases its ownership to 69.5%. Halten East is an ongoing offshore...
View ArticleChina regasification capacity seen at 250 mln T by decade-end, BP exec says
China’s regasification capacity is expected to grow two-thirds to 250 million metric tons by the end of the decade, from 150 million now, a BP BP.L executive said. Asian demand growth for gas is...
View ArticleRussia ready to continue gas supplies to Europe via Ukraine: Novak
Russia is ready to continue to supply gas to Europe via Ukraine, but continued deliveries now depend on an agreement being reached by European buyers and Kyiv, Russia’s Deputy Prime Minister Alexander...
View ArticleOil prices fall as Hurricane Rafael expected to start weakening
Oil prices fell slightly on Friday as the risk that a hurricane in the Gulf of Mexico will significantly affect U.S. oil and gas output declined, while the market weighs how President-elect Donald...
View ArticleMiddle East Crude-Oman and Dubai slide; Murban inches up
Middle East crude benchmark premiums for Oman and Dubai slid on Friday, while that for Murban inched up. Oil prices are poised for weekly gains on expected actions by the incoming Trump administration...
View ArticleArgentina oil firm YPF sees output boost in 2025, focus on Vaca Muerta
Argentina’s state oil firm YPF (YPFDm.BA), opens new tab expects to increase shale oil production by 30% to 40% next year, the company’s CEO Horacio Marin said on Friday. Marin, on a call to discuss...
View ArticleArgentina oil firm YPF sees output boost in 2025, focus on Vaca Muerta
Argentina’s state oil firm YPF YPFDm.BA expects to increase shale oil production by 30% to 40% next year, the company’s CEO Horacio Marin said on Friday. Marin, on a call to discuss financial results,...
View ArticlePetrobras posts 22% increase in quarterly profit, announces $3 billion in...
Brazilian state-run oil firm Petrobras PETR4.SA on Thursday reportedan increase of around 22% in its third-quarter net profit, and announced $3 billion in dividends. The company posted a net profit of...
View ArticleA second Trump administration
The US has a President-elect with power to wield. A likely Republican trifecta would strengthen President-elect Donald Trump’s new administration across domestic and global affairs. Along with the...
View ArticleOver 23% of US Gulf of Mexico oil output shut in due to Hurricane Rafael
Over 23% of crude oil production and 10% of natural gas output in the U.S. Gulf of Mexico was shut in byHurricane Rafael, the U.S. Bureau of Safety and Environmental Enforcement said on Friday. Energy...
View ArticleBiden administration completes ‘final’ Strategic Petroleum Reserve refill...
The administration of US President Joe Biden has completed what it called its “final” purchase of crude oil in its efforts to refill the Strategic Petroleum Reserve, the US Department of Energy...
View ArticleUS Cash Crude-Grades little changed as oil rig counts hold steady
Price differential for U.S. crude grades were little changed on Friday, dealers said, as oil rig count, an indicator of future production, held steady. WTI Midland WTC-WTM rose 5 cents, while Mars Sour...
View ArticleDiscount on Western Canada Select heavy crude tightens
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Friday: WCS for December delivery in Hardisty, Alberta, settled at...
View ArticleMed crude-Urals diffs stable, Azeri BTC exports set to inch up in Dec
Urals crude oil differentials to dated Brent were stable on Friday, while Azeri BTC oil loadings from Turkey’s Ceyhan port were set for a mild rise in December. Azeri BTC daily crude oil exports from...
View ArticleUS oil and gas rig count holds steady for record third week – Baker Hughes
U.S. energy firms this week kept the number of oil and natural gas rigs operating unchanged for a record third week in a row, according to energy services firm Baker Hughes’ data going back to 1987....
View ArticleMore Iran sanctions and ‘drill baby, drill’: Oil market’s future is still...
U.S. oil producers are looking forward to less regulations on crude production under a Donald Trump presidency, meaning higher oil supply and consequently lower prices. But it’s not that...
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