North Sea Crude-WTI edges up
U.S. WTI crude differentials edged up on Friday after bids and offers were posted in the Platts window, while there was no discussion on North Sea grades. MARCH PROGRAMMES * Supply of the five North...
View ArticleIraq invites global oil firms for talks on Kurdistan contracts
Iraq’s Ministry of Oil said on Saturday it had invited global foreign companies operating under the Association of the Petroleum Industry of Kurdistan (APIKUR) umbrella, along with firms contracted by...
View ArticleGrades steady ahead of proposed U.S. tariffs on Mexico, Canada
U.S. cash crude prices were little changed on Friday, dealers said, as markets awaited proposed 25% U.S. tariffs on Mexican and Canadian goods early next week. U.S. President Donald Trump on Thursday...
View ArticleW. Africa Crude-Differentials stable
West African crude differentials were stable in the week’s final session on Friday, as markets waited for fresh developments on U.S. trade tariffs. * Differentials have been stable throughout the week,...
View ArticleUrals diffs steady, resumption of Kurdish exports in question
Urals crude differentials were steady again on Friday, while Iraq and foreign oil firms made conflicting statements on Kurdish oil exports resumption. Eight international oil firms operating in Iraq’s...
View ArticleUS oil and gas production hit record high in December, says EIA
U.S. crude oil and natural gas output set records in December, and oil demand touched multi-month highs, the U.S. Energy Information Administration said in its Petroleum Supply Monthly report. Crude...
View ArticleSaudi Arabia may lower April oil prices for Asia
Top oil exporter Saudi Arabia may slightly cut its crude prices for Asian buyers in April, tracking the marginal decline in benchmark prices this month, traders said on Friday. The April official...
View ArticleUS fuel oil markets see values decline due to tariff implementation,...
US fuel oil markets began to see immediate shifts in sentiment following the March 4 implementation of President Donald Trump’s tariffs on energy imports from Mexico and Canada, although much...
View ArticleOil set for biggest weekly drop since October on tariff uncertainty, supply...
Oil prices gained on Friday but were set for their biggest weekly decline since October as the uncertainty around U.S. tariff policy is creating concerns about demand growth at the same time major...
View ArticleSaudi Arabia cuts oil prices to Asia for first time in three months
Saudi Arabia, the world’s top oil exporter, on Friday lowered crude oil prices for Asian buyers in April for the first time in three months, in line with market expectations and after OPEC+ agreed to...
View ArticleRussia says OPEC+ may reverse oil output after April, Kazakhstan pledges cuts
Russia Deputy Prime Minister Alexander Novak said on Friday that the OPEC+ group agreed to start increasing oil production from April, but could reverse the decision afterward if there are market...
View ArticleMiddle East Crude-Benchmarks gain; Saudi lowers OSP to Asia
Middle East crude benchmark spot premiums of Oman, Dubai and Murban climbed on Friday and posted small gains for this week. Saudi Arabia, the world’s top oil exporter, on Friday lowered crude oil...
View ArticleUS oil, gas rig count rises by 6 on week to 611, as Q4 2024 earnings season...
The US oil and gas rig count rose by six for a total 611 rigs for the week ended Feb. 26, S&P Global Commodity Insights data showed, as fourth-quarter earnings wrapped up during the period, leaving...
View ArticleU.S. will collapse Iran’s economy by shutting down its oil industry, Treasury...
President Donald Trump’s sanctions against Iran are designed to shut down the country’s oil industry and “collapse its already buckling economy,” Treasury Secretary Scott Bessent said. The U.S. is...
View ArticleTrump’s Canada oil tariff speaks of US vulnerability: Bousso
When U.S. President Donald Trump announced tariffs on Canadian and Mexican imports this week, he gave Canadian energy a modest break, showing “Tariff Man” will engage in realpolitik when it comes to...
View ArticleNorth Sea Crude-WTI Midland steady
U.S. WTI Midland crude differentials were stable on Friday after Phillips 66 tabled a bid in the Platts window that it later withdrew. PLATTS WINDOW * Indications are on a free-on-board (FOB) basis...
View ArticleOPEC+ losing grip on oil markets despite surplus
Global indications suggest that OPEC is no longer able to effectively manage its six million barrels of surplus oil stocks. Over the past several months, the organization has delayed its decision to...
View ArticleDiscount on Western Canada Select heavy crude narrows
The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) narrowed on Friday to end what has been a week of uncertainty in oil...
View ArticleGrades firm slightly after whipsaw tariff-focused week
U.S. cash crude grades firmed marginally on Friday, dealers said, steadying after a rollercoaster week of uncertainty in the market around U.S. tariffs on Mexico and Canada. U.S. President Donald Trump...
View ArticleTop oil executives reckon with downturn even as Trump cheers them on
The world’s energy industry leaders meet in Houston next week as plummeting oil prices push Big Oil to slash thousands of jobs even as a pro-fossil fuel U.S. administration encourages them to pump...
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