US biofuel producers ramped up in Oct as profitability improved, data shows
U.S. renewable diesel and biodiesel producers ramped up operations in October to multi-month highs, helped by stronger margins for the biofuels, according to data compiled by advisory group AEGIS...
View ArticleCOMMODITIES 2025: Asian fuel ethanol to see healthy demand on biofuel push
The Asian fuel ethanol market is expected to be steady in 2025 amid an uptick in demand due to the policy push for biofuels in the region, market sources said, with feedstock availability, competitive...
View ArticleU.S. energy production exceeded consumption by record amount in 2023
In 2023, energy production in the United States rose 4% to nearly 103 quadrillion British thermal units (quads), a record. Energy consumption in the United States fell 1% to 94 quads during the same...
View ArticleIEF Calls for More Oil Data Transparency from Non-OECD Nations To Enhance...
The Secretary General of the International Energy Forum called for greater oil data transparency from non-OECD nations to enhance the stability of global oil markets, at a meeting of the IEF Executive...
View ArticleOil prices extend losses, firmer dollar and supply outlook weigh
Oil prices extended losses into a second straight session on Tuesday on technical correction after last week’s rally, while forecasts for ample supply and a firm dollar also weighed. Brent futures fell...
View ArticleThe Commodities Feed: European gas moves lower
Energy – Saudis raise oil prices The move higher in crude oil prices appears to be running out of momentum with ICE Brent settling 0.27% lower on the day, although it continues to trade above...
View ArticleOil prices rise on demand, possible disruption
Oil prices gained on Tuesday driven by concerns over tighter supply from Russia and Iran because of Western sanctions and expected higher Chinese demand. Brent crude futures advanced 78 cents, or...
View ArticleMiddle East Crude-Benchmarks dip as oil prices ease
Middle East crude benchmark premiums for Oman, Dubai and Murban dipped on Tuesday as oil prices eased for a second consecutive session amid waning demand optimism. SINGAPORE CASH DEALS Cash Dubai’s...
View ArticleBrent crude oil prices traded in a narrow range in 2024
Benchmark Brent crude oil futures prices averaged $80 per barrel (b) in 2024, $2/b less than in 2023. Intraday prices stayed within a $24/b range, between $68/b and $93/b (after rounding), which was...
View ArticleOPEC oil output falls in December on UAE and Iran, survey finds
OPEC oil output fell in December after two months of increases, a Reuters survey found, as a drop from the United Arab Emirates due to field maintenance and from Iran offset a hike from Nigeria and...
View ArticleAtlantic Canada looking to attract investors to boost oil output
Federal and provincial elections and carbon policies will play decisive roles in 2025, as Newfoundland and Labrador – home to over 200,000 b/d of light, sweet crude – jostles to maintain production and...
View ArticleBuilding out the AI-assisted energy company: you can’t do it alone
The energy industry is at an innovation crossroads, with technological capabilities at hand that can power transformation at a scale never seen before. For oil and gas companies, the competitive and...
View ArticleSouth Sudan to restart pumping crude oil on Jan 8, minister says
South Sudan aims to resume oil production at its Blocks 3 and 7 on Jan. 8 with an initial output target of 90,000 barrels per day, Petroleum Minister Puot Kang Chol said on Tuesday. South Sudan’s...
View ArticleIn 2024, U.S. retail gasoline prices averaged about 20 cents less than in 2023
The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil prices and narrower refinery margins in 2024 than in 2023 both...
View ArticleUS crude stock sees significant drop, surpassing forecasts and previous levels
The American Petroleum Institute (API) has recently reported a notable decrease in the inventory levels of US crude oil, gasoline, and distillates stocks. The recent data shows that the actual decrease...
View ArticleOil prices surge as OPEC supply drops, US crude stocks decline
Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened while U.S. crude oil stocks fell last week, market sources said, citing American Petroleum Institute figures. Also...
View ArticleSaudi hikes February oil prices for Asia, first time in 3 months
Saudi Aramco, the world’s top oil exporter, on Monday raised crude prices for Asian buyers in February for the first time in three months, after OPEC+ extended production cuts for another three months...
View ArticleWestwood Insight – Offshore drilling upcycle continues, but 2025 will be a...
2024 has been another strong year for the offshore drilling rig market with high utilisation and dayrates. However, the winds of change have started to blow, and the market is already showing some...
View ArticleMiddle East Crude-Benchmarks gain; OPEC oil output falls in December
Middle East crude benchmarks Oman, Dubai and Murban rose on Wednesday amid firm demand from Asia, and as OPEC oil output fell in December after two months of increases. The Organization of the...
View ArticleOil falls on US fuel stocks build, dollar strength
Oil prices fell more than 1% on Wednesday as a stronger dollar and large builds in U.S. fuel inventories last week pressured prices, reversing earlier gains from the tightening supplies from Russia and...
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