Crude oil

Oil & Gas Trade

Iraq Cuts Oil Exports in August, Pumps Below OPEC+ Target

Iraq's crude oil exports have fallen so far in August, according to shipping data and industry sources

Oil & Gas Trade

U.S. Oil Exports to China Soar 139% in July

U.S. crude oil exports to China grew by 139 percent on the year in July thanks to bargain hunting among Chinese buyers, making the U.S. the fifth-largest suppli…

Crude Oil

Iraq Pledges to Deepen Oil Output Cuts in August, September

Iraq said on Friday it would cut its oil production by another 400,000 barrels per day in both August and September to compensate for its overproduction in the …

Oil & Gas Trade

US Slashes Nigerian Oil Imports by 11.67m Barrels

The United States slashed its imports of Nigerian crude oil to 9.37 million barrels in the first five months of this year, 11.67 million barrels lower than what…

Crude Oil

India’s July Crude Imports Fall to Decade Low

India's crude imports hit a decade low in July, falling by a record 36pc or 1.67mn b/d on the year because of a nationwide Covid-19 lockdown and sliding refinin…

Crude Oil

Angola Oil Output to Fall Below 1.2mn b/d by 2023: ANGP

The agency predicts a slight rebound next year but expects the growth to be short-lived.

Nigeria

NPDC Planning 500,000 barrel of Crude Oil Per Day

Group Managing Director of the Nigeria National Petroleum Corporation, Mele Kyari, has assured that the Nigeria Petroleum Development Company will scale up its …

Crude Oil

Storage Levels for Crude Oil are Starting to Decline as Economies Recover

As economies reopen, oil stocks in Cushing have been drawn down to 52 million barrels since its peak of 65 million in May.

Crude Oil

Global Oil Demand is Expected to Return to 97% of Pre-Epidemic Levels by the End of the Year

At the OPEC and OPEC+ ministerial video conference that global oil demand is expected to return to the new crown by the end of 2020 97% of the level before the …

Crude Oil

Opec+ Needs Cumulative 2.3mn b/d of Compensation Cuts

Opec+ members that exceeded their crude production ceilings in May-July went over their quotas by a cumulative 2.3mn b/d and will need to compensate for this ex…

Crude Oil

Could The GNA Ever Successfully Control Libya’s Oil?

The success of the Tripoli-based Government of National Accord in forcing the withdrawal of the eastern-based Libyan National Army from northwestern Libya has l…

Oil Pipeline

Egypt Brings Online New Crude Pipeline at al-Hamra port

Egypt has brought online a new crude oil pipeline at the al-Hamra petroleum port on the Mediterranean Sea.

Market Analysis

China's Electricity Consumption Growth Eased to 2.3% in July

A shift in production strategy by crude oil refineries may have played a role.

Oil & Gas Trade

OPEC+ Seeks to Defend Oil-Market Gains as Demand Outlook Darkens

OPEC and its allies have achieved the oil-market equivalent of a high-wire act: increasing supply even as demand remains depleted, without crashing prices.

Crude Oil

California Oil Production Limits Stall in Legislature, Leaving the Issue to Newsom

In his first year in office, Gov. Gavin Newsom vowed to protect Californians against hazards and pollutants from oil and gas production.