Crude markets face substantial 2025 surplus as China demand falters – IEA
Global crude supply growth is likely to outstrip demand by over a million barrels/day in 2025, the International Energy Agency (IEA) said on Thursday, with the “marked” slowdown in China consumption...
View ArticleOil prices tick higher as Russia-Ukraine tensions escalate
Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China and forecasts of a global oil surplus weighed on...
View ArticleUBS: CIO trims crude oil price forecasts
The main reason for the downward adjustment is our new oil demand growth estimates, which we lowered from 1.5mbpd to 1.2mbpd this year and from 1.3mbpd to 1.2mbpd next year on weaker demand growth in...
View ArticleMiddle East Crude-Benchmark premiums slide
Middle East crude benchmark premiums for Oman, Dubai and Murban all trended lower on Monday. SINGAPORE CASH DEALS Cash Dubai’s premium to swaps fell 5 cents to $0.52 a barrel. Trafigura will deliver a...
View ArticleAzerbaijan’s 10-month oil output down 4.8%, energy ministry says
Azerbaijan’s oil output fell by 4.8% to 24.1 million metric tons in the first 10 months of 2024, from 25.3 million tons a year earlier, the Energy Ministry said on Monday. Production of oil in...
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...
View ArticleChina’s surplus crude oil eased in October, but this is still bearish
China’s crude oil surplus nearly halved in October, but this was a further sign of weakness as both imports and refinery runs dipped. The volume of excess crude was about 550,000 barrels per day (bpd)...
View ArticleIndia’s city gas distribution companies seen tapping RLNG market on lower...
Indian city gas distribution companies, or CGDs, have seen their domestic gas volume allocation reduce substantially from Nov. 16, which will lead them to tap the regasified LNG market, market sources...
View ArticleSinopec, Aramco start building $10 bln petchem complex in China’s Fujian
Sinopec Corp. and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China’s Fujian province, marking another big investment in the country’s recent wave of...
View ArticleEurope Gas: Prices fluctuate on colder forecasts, despite steady Russia flows
Dutch and British wholesale prices fluctuated on Monday morning amid colder weather forecasts and a drop in Norwegian supply, but as Russian gas flows via Ukraine remained stable and more liquefied...
View ArticleOil prices rise on Sverdrup outage, Ukraine war escalation
Oil prices rose on news on Monday that output at Norway’s giant Johan Sverdrup oilfield has been halted, adding to earlier gains stemming from escalation in the Russia-Ukraine war. Brent crude futures...
View ArticleChinese small independent refinery re-emerges in regular crude market
These refineries have increasingly relied on cheap sanctioned supplies from Iran, Russia and Venezuela since the Russia-Ukraine war began in 2022, with their feedstock mix nearly reaching 100% in 2024....
View ArticleAsia naphtha supply expected to remain tight over next two years
Naphtha is expected to remain in short supply in Asia over the next couple of years as more crackers come online and as demand for blending the fuel with gasoline rises, industry executives and...
View ArticleThe Commodities Feed: Russian gas flows continue
Energy – Russian pipeline gas continues to flow Oil prices rallied yesterday with ICE Brent setting almost 3.2% higher. A softening in the USD supported most of the commodities complex. However, for...
View ArticleOil slips on Sverdrup field restart, geopolitical fears support
Oil slipped on Tuesday pressured by the restart of production at Norway’s Johan Sverdrup oilfield, although investor caution arising from fears of an escalation in the Russia-Ukraine war limited the...
View ArticleMiddle East Crude-Dubai rises slightly, Murban dips
Middle East crude benchmark spot premium for Dubai rose slightly on Tuesday, while that for Murban dipped. Taiwan’s CPC issued a tender on Tuesday seeking to buy sweet crude for February arrival....
View ArticleNorway’s Sverdrup oil output rises to two-thirds of capacity
Equinor EQNR.OL has resumed production at the Johan Sverdrup oilfield in the North Sea following a power outage, reaching two-thirds of capacity by mid-morning on Tuesday, a company spokesperson said....
View ArticleAustralia’s Santos targets over 30% rise in oil, gas output by 2027 from 2024...
Australia’s Santos expects its production increase by over 30% by 2027 compared with 2024, when its Barossa and Pikka projects come online, the company said on Nov. 19. The Barossa project is 84%...
View ArticleUK oil and gas decommissioning spend nears $3 billion/year as transition...
The UK oil and gas industry is hitting new highs of spending on decommissioning, with spending set to average GBP2.4 billion ($3 billion)/year in the next few years, while the amount of work actually...
View ArticleOil steadies as Sverdrup field restart counters geopolitical concerns
Oil prices steadied on Tuesday as the restart of production at Norway’s Johan Sverdrup oilfield offset investor concerns about an escalation in the Russia-Ukraine war. Equinor (EQNR.OL), opens new tab...
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