Energean lowers 2024 production outlook, Israel operations unaffected
Gas producer Energean on Thursday lowered its full-year 2024 production forecast due to lower sales in Israel owing to bad weather conditions. The company expects 2024 production to be between 150,000...
View ArticleOil up as Israel, Hezbollah trade accusations of ceasefire violation
Oil prices ticked up on Thursday after Israel and Lebanese armed group Hezbollah traded accusations their ceasefire had been violated and Israeli tanks fired on south Lebanon. Also OPEC+ delayed by a...
View ArticleUS drillers cut oil and gas rigs for third week in a row – Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since early October, energy services firm Baker Hughes said in its closely...
View ArticleEuropean LNG, gas supply shifts strengthen 2026 summer-winter backwardation
European natural gas prices for summer 2026 have held their backwardation against their winter 2026 counterpart as sources emphasized improving global supply-demand dynamics later that year. Platts,...
View ArticleGoldman warns of likely Asia LNG price rise on European supply crunch
Asia prices of liquefied natural gas could jump to above $20 per million British thermal units (mmBtu) if European gas supply tightens this winter, an analyst at Goldman Sachs told reporters on...
View ArticleOil prices set to end week over 3% lower as supply risks ease
Oil fell on Friday, heading for a weekly drop of more than 3%, pressured by easing concerns over supply risks from the Israel-Hezbollah conflict and the prospect of more ample supplies in 2025 even as...
View ArticleAzerbaijan reins in Kazakh drive to reduce oil transit via Russia
Azerbaijan said it would only be able to receive 2.2 million metric tons of Kazakhstan’s oil into its pipeline each year as it has a high sulphur content, curbing Astana’s efforts to reduce reliance on...
View ArticleMiddle East Crude-Benchmarks fall as oil market set for weekly loss
Middle East crude benchmark spot premiums for Oman, Dubai and Murban all slid on Friday as oil prices were poised for a weekly loss. Oil was heading for a weekly drop of more than 3%, pressured by...
View ArticleOil faces uphill fight as demand woes, oversupply challenge OPEC efforts
Oil prices could stall in 2025 as economic weakness in China clouds the demand picture and ample global supplies outweigh support from an expected delay to a planned OPEC+ output hike, a Reuters...
View ArticleOil market update – Market prospects in 2025
OPEC+ has once again postponed its plan for the revival of its production until January. The outlook for next year is widely seen to be negative with the main international agencies expecting a surplus...
View ArticleOil heads for 2% weekly decline as supply risks ease
Oil prices were steady on Friday and heading for a weekly drop of more than 2%, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in...
View ArticleNorth Sea Crude-Forties trades, Sverdrup offered
North Sea Forties crude traded lower than the previous deal in the Platts window on Friday, while Norway’s Johan Sverdrup was on offer. PLATTS WINDOW Indications are free on board unless marked as...
View ArticleW. Africa Crude-Girassol offered in window, Unipec buys Nemba
Angolan crude gradesremained under pressure from ample supply on Fridaywith a cargo of Girassol being offered without finding a buyer, although Unipec was heard to have bought state oil firm Sonangol’s...
View ArticleMed crude-Urals diffs stable, freight rates set to rise
Urals crude differentials to dated Brent were unchanged on Friday, while traders expected freight rates for Russian oil to increase amid coming winter season and new sanctions. Freight rates for...
View ArticleChina’s major shale oil base achieves annual output of over 1m tons
The output of China’s first national-level shale oil demonstration zone, located in Xinjiang Uygur autonomous region, has exceeded 1 million tons so far this year, marking a significant breakthrough in...
View Article‘Gas is the future’ for Republic of Congo as it battles stalling oil production
The Republic of Congo has set its sights on growing gas production to jump-start its hydrocarbons output, with declining crude oil production triggering a scramble to diversify into new markets....
View ArticleTrump may target Iraq’s oil sector with sanctions to counter Iranian...
US President-elect Donald Trump’s planned maximum pressure sanctions campaign on Iran may extend to neighboring Iraq, according to three sources familiar with the discussions, targeting OPEC’s second...
View ArticleUS oil output fell in Sept by the most since Jan, EIA says
U.S. crude oil output fell by 157,000 barrels per day (bpd) month-over-month to 13.20 million bpd in September, the largest decline since January, data from the U.S. Energy Information Administration...
View ArticleUS LNG natural gas demand nears record level
Gas demand from the U.S. largest liquefied natural gas producers soared to near-record levels on cooler weather and fewer outages, according to preliminary data from financial firm LSEG. LNG export...
View ArticleCanada’s oil patch rattled by Trump’s tariff threat
In Canada’s oil-rich province of Alberta, there is a deep sense of unease over President-elect Donald Trump’s threat to impose a 25% tariff on Canadian goods. Canadian politicians and energy experts...
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