Morgan Stanley, HSBC cut oil supply forecast, predict $70 Brent after OPEC...
Morgan Stanley and HSBC revised down their expectations for an oil market surplus next year and forecast a Brent price of $70 per barrel, following a decision by OPEC+ to delay and slow plans for...
View ArticleFitch Ratings Revises Gas Price Assumptions, Leaves Oil Prices Unchanged
Fitch Ratings has revised its TTF gas price assumptions for 2024-2025, reflecting year-to-date prices, seasonal and geopolitical factors, and reduced its Henry Hub assumptions for 2025-2026 due to the...
View ArticleRussia’s oil tsar says Trump’s moves to defend US producers ‘fitting’
Igor Sechin, the head of Russia’s largest oil producer Rosneft, on Saturday said he approved of U.S. President-elect Donald Trump’s proposals to defend domestic energy producers. Speaking at a...
View ArticleEurope to crank up gas-fired output and emissions as winter sets in
Europe’s natural gas-fired electricity generation and associated emissions fell to multi-year lows over the first three quarters of 2024, but are set to rebound sharply towards year-end as solar output...
View ArticleUS diesel production reaches five-year high: EIA
Ultra-low sulfur diesel production jumped 214,000 b/d to 5.153 million b/d, the highest level since Jan. 4, 2019, when US production totaled 5.177 million b/d, according to the latest Energy...
View ArticleIran faces energy crisis as oil output declines amid sanctions, president says
Iran’s energy shortage has neared a point of crisis due to a continuous decline in oil output amid US sanctions, President Masoud Pezeshkian said Dec. 2, with the country struggling for investment to...
View ArticleSaudi crude prices to Asia slump to 4-year low on weak demand
The world’s biggest crude oil exporter Saudi Aramco has cut its January 2025 prices for Asian buyers to the lowest level since early 2021 as weak demand from top importer China weighs on the market, it...
View ArticleOil rises amid China monetary policy move, Assad’s fall
Oil prices climbed by more than 1% on Monday as top importer China flagged its first move toward a loosened monetary policy since 2010 aiming to bolster economic growth, state media reported citing a...
View ArticleAt major IEA conference, decision-makers from tech, energy and government...
IEA Executive Director emphasises ‘there is no AI without energy – specifically electricity’ at event involving 500 participants, including tech & energy leaders and government ministers Leading...
View ArticleMiddle East Crude-Benchmarks fall as Saudi cuts January prices for Asian buyers
Middle East crude benchmarks Oman, Dubai and Murban slid on Monday, after Saudi Aramco cut its January 2025 prices for Asian buyers to the lowest level since early 2021. The price cuts, announced by...
View ArticleSaudi Arabia cuts crude oil prices for Asia amid nascent demand recovery
It’s always tempting to try and over-analyse changes in the crude oil market and Saudi Arabia’s decision to cut its official prices for Asian customers to the lowest level in four years is one such...
View ArticleOil prices rise as China eyes monetary easing to boost growth
Oil prices climbed by more than 1% on Monday as top importer China flagged its first move towards a loosened monetary policy stance since 2010 in a drive to bolster economic growth, state media...
View ArticleRussian flows through Ukraine unchanged, Austria nominations up
Russian gas exports to Europe via Ukraine were stable on Tuesday while nominations, or requests, to Austria from Slovakia jumped by 15.7% from Monday, hitting their highest since Nov. 15, data showed....
View ArticleKey global natural gas prices set to keep rising into 2025: Maguire
Natural gas prices in Asia, Europe and North America have climbed by around 30% to 50% so far in 2024, and look set to keep rising over the coming months as forecasts forcold weather trigger higher...
View ArticleWeak demand sees Aramco cut Jan Arab Light OSP for Asia-bound crude to 4-year...
Saudi Aramco’s sharp cuts over the weekend to its January 2025 crude oil official selling prices for Asia-bound cargoes were within expectations, with the slashing of Arab Light’s differential to a...
View ArticleAre markets are underestimating oil demand growth?
The decision marked the third time the oil-producing group has delayed adding barrels back to the market amid weaker-than-expected demand. The outcome of the latest meeting of OPEC+ members surprised...
View ArticleOil prices ease, but China policy stance checks losses
Oil prices slipped on Tuesday as concerns eased about the fallout from the overthrow of Syria’s president, despitesupport fromChina’s planto ramp up policy stimulus – a potentialboost to demand from...
View ArticleTurkey sees record oil production of 3.4 mln barrels in November
Turkey produced a record 3.4 million barrels of crude oil in November, half coming from the Gabar mountain region in the southeast province of Sirnak, Energy Minister Alparslan Bayraktar said on...
View ArticleMiddle East Crude-Benchmarks slide as oil prices ease
Middle East crude benchmarks Oman, Dubai and Murban extended declines on Tuesday as oil prices slipped on easing concerns about the fallout from Syrian President Bashar al-Assad’s overthrow. Meanwhile,...
View ArticleCalifornia law and refinery closure reflect ongoing challenges for the...
On October 14, California Governor Gavin Newsom signed bill Abx2-1 into law, empowering California regulators to set and adjust minimum petroleum product inventory levels for refiners in the state, in...
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