Crude

Oil Price

Aramco’s Profit Soars 46% To Record $161BN on Higher Oil Prices

Aramco oil tanks in Abqaiq, Saudi Arabia. The state energy company will raise crude production to 13 million barrels per day by 2027.Saudi Aramco, the world'…

Oil & Gas Trade

Oil Stays Firm on China Growth Hopes

Oil prices rose in Asian trade, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further US interest rat…

Oil Price

Oil Edges up on Hope of China Demand Revival

Oil prices edged up, after Brent crude posted its biggest single-day loss in seven weeks the day before, as market players reassessed prospects for supply and d…

Oil Pipeline

Ecuador Halts Sote, Ocp Oil Lines After Landslide

State-owned PetroEcuador and private consortium OCP Ecuador stopped operations on the country's two major crude pipelines today as a preventative measure be…

Crude Oil

Biden Administration Plans to Sell 26 Million Barrels of Crude

The Biden administration plans to sell more crude oil from the Strategic Petroleum Reserve, fulfilling budget directives mandated years ago that it had sought t…

Oil Price

Oil Prices Rise Over 2% On Russian Plan to Cut Output

Doha: Oil prices rose more than 2 percent on Friday as Russia announced plans to reduce oil production next month after the West imposed price caps on the count…

Oil Pipeline

USA EIA Reveals Latest Gasoline and Diesel Price Forecasts

The U.S. Energy Information Administration (EIA) has revealed its latest gasoline and diesel price forecasts for 2023 and 2024 in its February short term energy…

Oil Price

Oil Prices Steady as Build-up in Us Crude Stocks Eases Supply Fears

Workers on an oil drilling rig in Stanton, Texas. US crude stocks increased by 2.4 million barrels last week, the US Energy Information Administration said. AFP…

Oil & Gas Trade

What Would War-End Mean for Global Oil and Gas?

The end of the war in Ukraine would reduce pressure on Western governments to continue expanding sanctions on Russia’s oil and gas sector.That’s acc…

Oil Price

Oil Prices Rise Amid Signs of Tightening Demand

Traders at the New York Stock Exchange. Analysts expect the price cap on Russian refined product exports to have a bigger impact on global crude flows than the …

Oil & Gas Trade

Energy Workforce & Technology Council: Oilfield Services Employment Highest Since March 2020

(WO) — Employment in the U.S. oilfield services and equipment sector rose by an estimated 3,069 jobs to 652,090 in January, according to preliminary data from …

Crude Oil

OPEC+ Agrees to Stick to Oil Output Targets Amid Improving China Outlook

Opec's headquarters in Vienna. APThe Opec+ alliance of 23 oil-producing countries has agreed to roll over its existing oil output cuts as the fuel demand ou…

United States

Chevron Venezuela Output up by 40,000 B/D

Chevron said its crude output in Venezuela has risen by about 40,000 b/d to reach 90,000 b/d since US sanctions were eased against the country late last year, w…

Crude Oil

Russian Seaborne Crude Exports Rebound to Two-Month High in January, Report Says

A ship in the Baltic Sea on the natural gas pipeline Nord Stream 2 from Russia to Germany. An EU and G7 price cap on Russian oil has aimed to reduce Moscow&rsqu…

Oil & Gas Trade

Global Oil Demand Will Surge to Record This Year as China Reopens, Iea Says

A drilling platform at Norway's giant offshore Johan Sverdrup field.Global oil demand will surge to a record this year following the end of coronavirus rest…