Oil prices steady as Syria concerns ease and China stimulus supports
Oil prices were little changed on Tuesday as concerns eased about the fallout from the overthrow of Syria’s president while the market found support from Chinese stimulus that could boost demand from...
View ArticleU.S. crude oil inventories up last week: API
The American Petroleum Institute (API) on Tuesday reported an increase of 0.499 million barrels of crude oil in U.S. inventories for the week ending Dec. 6. Analysts expect a drop of 1.3 million...
View ArticleOil up on China’s monetary policy shift
Oil prices rose on Wednesday, with market participants expecting demand to rise in China, the world’s largest crude importer, after Beijing announced it would relax monetary policy to try to stimulate...
View ArticleWestwood Insight – A mixed drilling outlook for the Americas but...
Higher oil prices in 2021 led to a healthy rebound in global drilling activity the following year, helping production in areas such as the USA and Brazil reach new heights. Indications of a softening...
View ArticleNavigating and mitigating climate-related litigation risks to the oil and gas...
The energy industry is currently navigating a shift in focus to digital and sustainable technologies. This change makes for new challenges, including litigation risk in the climate, cybersecurity, and...
View ArticleOil rises as EU agrees further sanctions threatening Russian oil flows
Oil prices rose on Wednesday after the European Union agreed a further package of sanctions targeting Russia’s shadow fleet, while a larger-than-expected build in U.S. fuel stockpiles last week curbed...
View ArticleLow global demand creates opportunity for more US sanctions on Russian oil,...
The United States is continuing to look for creative ways to reduce Russia’s oil revenue and lower global demand for oil creates an opportunity for more sanctions, Treasury Secretary Janet Yellen said...
View ArticleUS crude stocks fall, fuel inventories rise on robust refining, EIA says
U.S. crude inventories fell for the third time in a row, while fuel stockpiles rose in the week ending December 6, the Energy Information Administration (EIA) said on Wednesday, as refinery activity...
View ArticleOPEC Reduces 2024, 2025 oil demand growth forecasts
Crude Oil Price Movements In November, the OPEC Reference Basket (ORB) value dropped by $1.47, or 2.0%, month-on-month (m-o-m), to average $72.98/b. The ICE Brent front-month contract dropped by $1.98,...
View ArticleExxonMobil announces plans to 2030 that build on its unique advantages
ExxonMobil today announced its Corporate Plan to 2030, creating a platform to further extend the company’s track record of delivering leading shareholder value. The plan reflects the company’s strategy...
View ArticleOPEC: Declaration of Cooperation reaches eight years
Eight years ago, on this day, OPEC Member Countries and Azerbaijan; the Kingdom of Bahrain; Brunei Darussalam; Equatorial Guinea, which later joined OPEC; Kazakhstan; Malaysia; Mexico; the Sultanate of...
View ArticleAttack on Russian oil depot had no impact on oil transit to Europe, Ukrainian...
A Ukrainian overnight attack on an oil depot in Russia’s Bryansk region did not affect oil transit to Europe via Ukraine, a Ukrainian industry source said on Wednesday. Ukraine’s military said on...
View ArticleMiddle East Crude-Oman and Dubai rise; Murban extends decline
The Middle East crude benchmark spot premiums for Oman and Dubai rose on Wednesday, while that for Murban continued to decline. Market participants are waiting for news on Saudi Arabia’s crude oil...
View ArticleAzerbaijan’s oil output fell by 4% in Jan-Nov, energy minister says
Azerbaijan’s oil output fell by 4.0% to 26.5 million tonnes in the first eleven months of 2024, down from27.6 million tonnes a year earlier, Energy Minister Parviz Shahbazov said on Wednesday. Oil...
View ArticleUS EIA forecasts 34% higher natural gas price for rest of winter over...
The US Energy Information Administration said on Dec. 10 it expects Henry Hub natural gas spot prices to average $2.99/MMBtu December through March this winter compared to $2.23 over the same period...
View ArticleImproving well productivity helps U.S. oil companies increase production at a...
Second-quarter 2024 financial results for 34 publicly traded U.S. oil exploration and production (E&P) companies suggest increasing well productivity is helping these companies reduce production...
View ArticleOPEC says Russia made small cut to oil output in November
Russia’s crude oil output in November edged down by 7,000 barrels per day (bpd) to about 8.99 million bpd, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday, citing data...
View ArticleThe Commodities Feed: Oil sanctions risk
Energy – Sanctions risk Oil prices firmed further yesterday, with ICE Brent settling more than 1.8% higher on the day, and this strength has continued this morning. This was after reports that the...
View ArticleOil little changed as demand weakness offsets sanctions-driven supply risks
Oil prices were little changed on Thursday as forecasts of weak demand and a higher-than-expected rise in U.S. gasoline and distillate inventories placed a lid on gains from an additional round of EU...
View ArticleOil edges lower on IEA surplus forecast
Oil prices were down more than 1% on Thursday as a forecast for ample supply in the oil market offset optimism stemming from growing expectations of a U.S. interest rate cut. Brent crude futures were...
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