US oil firms unlikely to go ‘drill, baby, drill’ under Trump, says Exxon...
U.S. oil and gas producers are unlikely to radically increase production under president-elect Donald Trump as companies remain focused on capital discipline, a senior executive at Exxon Mobil said....
View ArticleThe Commodities Feeds: OPEC+ week
Energy – OPEC+ meet this week Oil prices edged lower on Friday, and the Brent Feb-25 contract settled more than 3.7% lower on the week. However, the market continues to trade in a fairly narrow range....
View ArticleHopes that Biden’s Angola trip may help lower pressure on oil markets
US President Joe Biden is visiting oil-abundant Angola for a three-day trip, aiming to enhance investment activities in the country and countering China’s rising influence in the region. US President...
View ArticleMiddle East Crude-Dubai starts new month on weak note
Middle East crude benchmark Dubai on Monday kicked off this month’s trade on a weak note with BP and TotalEnergies as the main seller and buyer, respectively, on Platts window. TotalEnergies, which has...
View ArticleOil market outlook 2025: what to expect for crude prices
The International Energy Agency projects global oil supply will exceed demand by over 1 million barrels per day in 2025. This forecast assumes OPEC+ maintains its current production cuts throughout...
View ArticleSaudi Arabia may slash January crude prices for Asia
Top oil exporter Saudi Arabia is expected to slash crude prices for Asian buyers in January to the lowest in years, largely tracking a slump in Middle East benchmark prices last month, traders said on...
View ArticleOil rises on Chinese data, Middle East tensions
Oil prices rose on Monday, as strong factory activity in China buoyed hopes of higher demand, and as escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire...
View ArticleOPEC: Historic Vienna Agreement turns eight
Yesterday marks the eighth anniversary of the landmark ‘Vienna Agreement’ reached at the 171st Meeting of the OPEC Conference held on 30 November 2016 in Vienna, Austria. The historic agreement built...
View ArticleOIL FUTURES: Crude higher as China data boosts demand outlook
Crude oil futures were higher in mid-morning Asian trade Dec. 2 following a bullish slew of economic data release from China, boosting signs over the state of the country’s economic recovery. At 11:18...
View ArticleIndia scraps windfall tax on crude products, aviation fuel, petrol, diesel...
India has scrapped a windfall tax on crude products, aviation turbine fuel, and petrol and diesel exports, a government order said on Monday. Reuters had reported on Thursday, citing a federal...
View ArticleCNOOC Limited Brings On-stream Huizhou 26-6 Oilfield Development Project
CNOOC Limited and 80883 announces that Huizhou 26-6 Oilfield Development Project has commenced production. The project is located in the Pearl River Mouth Basin, with an average water depth of...
View ArticleIndia to dominate oil and gas transmission pipeline length additions in Asia...
India is expected to be at the forefront in terms of the trunk/ transmission oil and gas pipeline network additions in Asia, accounting for more than 40% of the region’s total pipeline length additions...
View ArticleLNG is stepping up to solve Europe gas woes, but at a price
Concerns that Europe is facing a natural gas supply crunch this winter are overblown, with the liquefied natural gas (LNG) market already stepping up to avoid any shortfall, albeit at higher prices....
View ArticleUS crude inventories likely fell last week, products seen up
U.S. crude oil stockpiles were expected to have fallen last week while gasoline and distillate inventories likely rose, a preliminary Reuters poll showed on Monday. Four analysts polled by Reuters...
View ArticleOil prices nudge higher ahead of OPEC+ meeting
Oil prices climbed nearly 1% on Tuesday, as traders awaited the outcome of an OPEC+ meeting later this week. Brent crude futures LCOc1 rose 66 cents, or 0.92%, to $72.49 a barrel by 0909 GMT, while...
View ArticleMiddle East Crude – Benchmarks slip ahead of OPEC+ meet, Saudi OSPs
Middle East crude benchmarks Oman and Dubai slipped on Tuesday, with traders keenly awaiting the outcome of an OPEC+ meeting and fresh official selling prices from Saudi Aramco later this week. RUSSIA...
View ArticleRussian ESPO oil premiums hit 2-year highs in China on robust winter demand
Spot premiums for Russia’s Far East ESPO Blend crude oil shipments to China rose to their highest since the Ukraine war broke out in 2022 on robust winter demand and as prices for rival grades from...
View ArticleOPEC+ likely to prolong oil cuts for Q1, sources say
OPEC+ is likely at its meeting on Thursday to extend its latest round of oil output cuts until the end of the first quarter, four OPEC+ sources told Reuters, to provide additional support for the oil...
View ArticleOPEC oil output rises in November as Libya recovers, survey finds
OPEC oil output rose for a second month in November as Libya’s production recovered after resolution of a political crisis, a Reuters survey found, though members making cuts pledged to the wider OPEC+...
View ArticleChina’s export tax rebate cut may tighten Asian middle distillate supply,...
This is part of the COMMODITIES 2025 series where our reporters bring to you key themes that will drive commodities markets in 2025. Asian clean oil product traders widely anticipate that Chinese...
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