EIA slightly raises US, global oil production forecasts
Both U.S. and global oil production are set to rise to slightly larger record highs this year than prior forecasts, the U.S. Energy Information Administration said on Wednesday. A surge in oil supply...
View ArticleIEA sees 2025 oil market in supply surplus
Highlights World oil demand is forecast to expand by 920 kb/d this year and just shy of 1 mb/d in 2025, to 102.8 mb/d and 103.8 mb/d, respectively. The slowdown in growth from recent years reflect the...
View ArticleOil edges higher on surprise dips in US fuels stocks
Oil prices ticked up on Thursday, helped by unexpected large draws in U.S. fuel stocks, recouping some of the sharp declines seen earlier this week due to a stronger U.S. dollar and worries about...
View ArticleGuyana and Suriname could provide 12 mmtpa of cost-competitive LNG in the 2030s
Several gas developments are underway in Guyana and Suriname that could offer new competitive LNG supply sources early next decade, according to a new report from Wood Mackenzie. According to Wood...
View ArticleUS refiner margins to stabilize next year as plant closures cut supply, EIA says
U.S. refiner margins for gasoline and diesel will be relatively unchanged next year, the U.S. Energy Information Administration said on Wednesday, signaling relief for fuel producers who saw profits...
View ArticleCOP29: Carbon emissions hit high as climate action stagnates
Government climate action has not reduced future global heating predictions for the last three years, according to Climate Action Tracker (CAT), a global team of scientists tracing government climate...
View ArticleGlobal energy sector employment increased by 3.8% in 2023, outpacing the...
Employment in the global energy sector grew at a strong pace in 2023, buoyed by a wave of investment in manufacturing clean energy technologies – though shortages of skilled workers remain a major...
View ArticleOil set for weekly loss on uncertainty around Fed rate cuts, China demand fears
Oil prices fell on Friday as investors weighed signsdemand in top crude importer China continues to underperform amid the country’s uneveneconomic recovery and expectations of fewer Federal Reserve...
View ArticleThe Commodities Feed: European gas surges on latest supply risk
Energy – European gas surges, US gas falls Most of the action in energy was in the natural gas markets yesterday. In Europe, TTF settled almost 6% higher on the day and traded to its highest level...
View ArticleOil prices on track for weekly loss as Chinese demand wanes
Oil prices slipped on Friday and were bound for a weekly loss as investors digested waning Chinese demand and a possible slowing of the U.S. Federal Reserve’s interest rate cut path. Brent crude...
View ArticleMiddle East Crude-Benchmarks little moved after Qatar tenders
Middle East crude benchmarks for Dubai, Oman and Murban werelittle moved on Friday, after Qatar issued its January tenders. QatarEnergy sharply cut the term price for al-Shaheen crude oil loading in...
View ArticleW. Africa Crude-WAF differentials end week stable
West African crude price differentials to dated Brent were stable at the end of the trading week, even as the December overhang reduced. Around 11 Angolan December crude cargoes remain unsold, a trader...
View ArticleMed crude-Urals diffs steady, Azeri BTC firms after a bid
Urals crude differentials were unchanged on Friday, while premiums for Azeri BTC crude oil firmed slightly to dated Brent after a bid during an afternoon trading session, traders said. Prices for Azeri...
View ArticleNorth Sea Crude-WTI Midland, Forties, Brent rise on strong demand
U.S. WTI Midland, and North Sea Brent and Forties crude differentials rose on Friday after strong demand re-emerged from Total, which bought one cargo and tabled higher bids. PLATTS WINDOW Indications...
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 on Friday: WCS for December delivery in Hardisty, Alberta, settled at...
View ArticleUS Cash Crude-Grades up on lower rig count, growing refining demand
U.S. cash crude prices rose on Friday, dealers said, as the oil rig count slipped and domestic refining demand rose. The number of U.S. oil rigs operating, an early indicator of future output, fell by...
View ArticleUBS: Oil prices have room to recover
The latest data from the Energy Information Administration (EIA) showed US crude inventories rose by a greater-than-expected 2.1 million barrels last week, while gasoline stocks fell by 4.4 million...
View ArticleEuropean gas, LNG flips to premium over JKM on supply shortage risks
Northwest European LNG prices flipped to premium territory versus Northeast Asian benchmarks for the first time this year as European worries over supply shortages bolster sentiment. Platts, part of...
View ArticleChina’s oil refinery output falls from a year ago for a seventh month
China’s refinery throughput in October fell 4.6% from last year, down from year earlier for a seventh month, as plant closures offset the ramp up of a newly started complex and demand from holiday...
View ArticleNigeria oil output rises to 1.8 million b/d on security measures: NNPC
Nigeria’s oil and gas production has risen sharply to hit 1.81 million b/d thanks in part to an ongoing blitz on oil thieves and saboteurs, the head of state-run Nigerian National Petroleum Company...
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