Crude oil

Crude Oil

USA's Purchase on Sweet Crude Oil will Not Follow Original Plan

US Energy Department says it will buy up to 1 mln bbls of sweet crude oil for strategic reserve from small to midsize domestic producers.

Oil & Gas Trade

OPEC Says Nigeria's Oil Output Dropped Last Month

The Organisation of Petroleum Exporting Countries, OPEC, has put Nigeria’s oil output, excluding Condensate, at 1.78 million barrels per day, m/bd, in April 20…

Oil & Gas Trade

OPEC Expects Global Oil Demand Hits Biggest Downfall

The Organization of the Petroleum Exporting Countries now expects global demand to contract by 9.07 million barrels per day, or 9.1 per cent, in 2020, it said i…

Crude Oil

Oil Drops in Early Asian Trading Amid Worries about Second Wave Pandemic

Oil prices fell in early Asian trading on Wednesday after industry data showed a rise in U.S. crude inventories and concerns mount about a possible second wave …

Crude Oil

U.S. Crude Output to Drop, Oil Demand to Slump by 2.2 Million Barrels Per Day in 2020

U.S. oil demand is expected to fall by about 2.2 million barrels a day in 2020.

Crude Oil

Saudi Arabia to Cut June's Oil Production

Saudi Arabia's Energy Ministry has directed the national oil company Aramco to further reduce crude oil production for June by an additional 1 million barrels p…

Crude Oil

UAE Making Even Bigger Cuts To Oil Production Next Month

The United Arab Emirates will cut even more oil production in June, UAE Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei announced th…

SINOPEC

Sinopec Puts China's Largest Petrochemical Port into Operation

China's leading energy and chemical company, has put China's largest petrochemical port into operation with the successful docking and unloading of the New Reno…

Crude Oil

Goldman Sachs: Oil Demand Could Exceed Supply By End-May

Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief, noting tha…

Crude Oil

Crude Oil Futures Rise on Spot Demand

Crude oil prices on Friday rose Rs 40 to Rs 1,874 per barrel as participants widened their positions on firm spot demand.

Oil Price

Saudi Arabia Raises Oil Prices As Demand Recovers

Saudi Arabia’s oil giant Aramco raised the price for all its crude oil grades to all regions for June in a move that analysts see as the start of demand recove…

Oil Price

In a Gloomy Oil Market, India's Pump Prices Echo $100-Plus Crude

Crude oil has plummeted to about $30 a barrel from $115 when Prime Minister Narendra Modi first came to power six years ago.

Crude Oil

Shell to Shut Philippines Refinery

Shell's Philippine affiliate Pilipinas Shell Petroleum will temporarily shut operations at its 110,000 b/d Tabangao refinery for approximately a month starting …

Crude Oil

Korea's SK Innovation Sees Refining Slump Continuing

SK Innovation, the south Korean oil refiner, sees no sign of recovery.

Crude Oil

Russia Predicts U.S. Oil Output Will Drop By 2-3 Million Bpd

U.S. oil production could decline this year by 2 million bpd-3 million bpd, due to limited storage capacity and low oil prices, Russia’s Deputy Energy Minister…