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Macron Tells Biden That Uae, Saudi Can Barely Raise Oil Output
Two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production, French President Emmanuel Macron on Monday said he ha…
U.S. Steps up Heavy Crude Imports as Biden Blasts Profiteering
U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace …
Oil Jumps After Saudi Arabia Hikes Crude Prices
Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for its crude sales in July.
BW Offshore Sells Producing FPSO
Indonesian consortium takes charge of floater deployed on the Terang Sirasun Batur project
Oman’s New Oil Discoveries to Increase Output by up to 100,000 Barrels
Production is expected to rise over the next two to three years
France in Talks With UAE To Replace Russian Oil Supplies
France is in talks with the United Arab Emirates to replace Russian oil purchases.
Oil Prices Jump After EU Leaders Agree to Ban Most Russian Crude Imports
Oil prices jumped after EU leaders reached an agreement late Monday to ban 90% of Russian crude by the end of the year.
U.S., European Thirst for Fuel Sends Physical Oil Prices Soaring
Sky-high refining margins for diesel and gasoline in Europe and the United States, driven by a cutoff in Russian supply, has sent prices for some types of phy…
Shell, BP Strike US Gulf Deal Ahead of Planned Drilling
Shell and BP have finalized an exchange of acreage in the deepwater Gulf of Mexico ahead of planned drilling in the greater Mars Basin, one of the region’s mos…
US to Sell Up to 40.1M Oil Barrels From Emergency Stockpile
The Department of Energy must receive bids for this notice of sale no later than 10.00am Central Time on 1st June 2022.
Davos 2022: Crude at $110 per Barrel Is ‘Not Sustainable’, Indian Energy Minister Says
India is speeding up its plan to blend ethanol with petrol to help cut down crude imports in the long term
Biden Administration Says It Has Not Ruled Out Export Curbs to Ease Fuel Prices
U.S. President Joe Biden has not ruled out using export restrictions to ease soaring domestic fuel prices, U.S. Energy Secretary Jennifer Granholm said on Tuesd…
Saudi Arabia’s Oil Revenue Expected to Rise 66% To $249BN
Jadwa Investment estimates Riyadh's expenditure to increase by 5% this year.
Oil Prices Drop on Profit-Taking, Supply Fears Linger
Oil prices slipped on Monday, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the E…
Oil Giant Aramco Reports Record First Quarter as Oil Prices Soar
Oil giant Aramco reported a more-than 80% jump in net profit Sunday, topping analyst expectations and setting a new quarterly earnings record since its IPO.