Trump’s low oil price promise is a risk and a boon for emerging markets
Donald Trump has promised to “drill, baby, drill” to halve energy costs, a plan that sends shivers through the governments of emerging market oil producers anxious about dollar earnings and fills...
View ArticleIs Europe on the brink of a new gas crisis?
Rising gas prices in recent weeks have brought back some bad memories for European energy traders — and governments. Recollections are fresh of the problems that hit energy markets following Russia’s...
View ArticleOil edges higher on imminent OPEC+ decision and geopolitical turmoil
Oil prices firmed slightly on Wednesday, with traders expecting OPEC+ to announce an extension to supply cuts this week while heightened geopolitical tensions continue to dominate market sentiment....
View ArticleMiddle East Crude-Benchmarks rise ahead of OPEC+ output decision
Middle East crude benchmark spot premiums for Oman, Dubai and Murban rose on Wednesday ahead of a key meeting by OPEC+ on Dec. 5 to discuss their output plan. Sources told Reuters the Organization of...
View ArticleIndonesia offers six oil and gas blocks in second bid round of 2024
The Indonesian government has offered six onshore and offshore blocks — estimated to contain 48 billion barrels of oil equivalent in oil and gas — in its second bid round of the year, a senior official...
View ArticleUS crude stocks fall as refinery demand grows, EIA says
U.S. crude stocks fell by more than expected last week as refiners ramped up operations, offsetting a rise in crude imports, the Energy Information Administration (EIA) said on Wednesday. Crude...
View ArticleOPEC+ starts formal talks at 1100 GMT Thursday; sources see oil cuts extended
OPEC+ is likely to extend its latest round of oil production cuts by at least three months from January when it meets online at 1100 GMT on Thursday, OPEC+ sources told Reuters, to provide additional...
View ArticleOil prices edge up ahead of imminent OPEC+ decision; geopolitical turmoil in...
Oil prices rose slightly on Wednesday, with traders expecting OPEC+ to announce an extension to supply cuts this week while heightened geopolitical tensions continue to dominate market sentiment. Brent...
View ArticleOPEC+ growing ‘more opaque’ as Vienna oil gathering shunned for ‘Zoom’
Since moving its headquarters to Vienna in 1965, OPEC ministers have typically gathered at least twice a year in the Austrian capital to formulate oil production policy, their every move watched by a...
View ArticleAfter decades, China sputters as engine of global oil demand growth
China’s crude oil imports are on track to peak as soon as next year as transport fuel demand begins to decline for the world’s top crude buyer, ending the country’s decades-long run as the dominant...
View ArticleOil slightly firmer ahead of OPEC+ supply decision
Oil prices were up slightly on Thursday ahead of an OPEC+ meeting later in the day, with investors waiting to see what the producer group would do next on supply cuts while also monitoring geopolitical...
View ArticleUS crude oil output hit record last week, EIA data shows
U.S. crude oil production rose by 20,000 barrels per day (bpd) to a record 13.513 million barrels per day in the week ended Nov 29, data from the U.S. Energy Information Administration (EIA) showed on...
View ArticleMiddle East Crude-Benchmarks slip; OPEC+ meeting in focus
Middle East crude benchmark spot premiums for Oman, Dubai and Murban all declined on Thursday, while investors are awaiting the outcome from OPEC+’s meeting later in the day. OPEC+ is likely to extend...
View ArticleRussia’s Novak says OPEC+ extended cuts in order not to destabilise global...
Russia’s Deputy Prime Minister Alexander Novak said on Thursday that the OPEC+ group of leading oil producers had decided to extend output cuts in order not to destabilise the global energy market,...
View ArticleOPEC+ has agreed to keep oil output steady for Q1, Interfax cites sources
OPEC+ has agreed to keep oil production at the current levels for the first quarter of 2025, Interfax news agency said on Thursday, citing unnamed sources. It also said that the group has decided to...
View ArticleOil rises after OPEC+ pushes back output hike, extends cuts through 2026
Oil prices rose on Thursday after OPEC+ decided to delay its planned output increase by three months to April 2025, and extend the full unwind of production cuts by a year until the end of 2026. Brent...
View ArticleWhat OPEC+ oil output cuts are currently in place?
OPEC+ delayed a planned increase in output further into next year as it faces a weaker oil demand outlook. The oil producer group agreed a complex deal in June to extend their deep production cuts well...
View ArticleOPEC+ output cuts turned US into top energy exporter, Rosneft’s Sechin says
Igor Sechin, the head of Russia’s largest oil producer Rosneft ROSN.MM, said on Thursday that the OPEC+ group’s decisions to reduce oil output in 2016 and 2020 helped the U.S. shale industry and made...
View ArticleOPEC+ delays oil hike until April, extends cuts into 2026 – sources
OPEC+ has agreed to delay plans to raise oil output until April from January 2025 and the group will also take one extra year to fully unwind the cuts by the end of 2026, OPEC sources said. OPEC+,...
View ArticleRussia’s Gazprom cuts investment budget for 2025, China remains focus
Russia’s Gazprom on Nov. 28 set its draft investment budget for 2025 at some Rb1.52 trillion ($14 billion), a reduction of some 7% compared with this year’s planned spending. In a statement, Gazprom...
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