Crude

Oil & Gas Trade

OPEC Stands by 2023 Oil Demand Forecast Amid Improving Outlook in China

Opec says it is holding to its forecast demand for crude this year despite forces arraying against it. ReutersOpec stuck to its global oil demand forecast for t…

Crude Oil

Keppel Offshore & Marine Former Senior Managers Escape Prosecution for Bribery Scandal

Six former senior officials of Singapore’s Keppel Offshore & Marine have escaped prosecution on corruption charges relating to Brazil’s Operation Ca…

Oil Price

Release of Us Oil Reserves Addresses ‘Underlying Crisis’ and Not Higher Prices, Envoy Says

US energy envoy Amos Hochstein says the country will continue to use its strategic reserves to help resolve crises. Antonie Robertson / The NationalThe US relea…

Africa Energy

Mele Kyari Says Nigeria Can Hit 2.2 MB/D Crude Oil Production in 2023

Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, has said that the country can achieve a 2.2 million bar…

United States

Oil Prices Rise After Surging 3% On China Recovery Optimism

Pump jacks at an oilfield in Texas. Oil futures gained despite a surprise rise in US crude stocks.Oil prices rose on Thursday after surging by about 3 per cent …

Oil Price

Oil Prices Fall on Us Crude Build-up and Recession Fears

The New York Stock Exchange. An Oanda analyst says energy traders believe Opec+ will do whatever is needed to support prices. ReutersOil prices dropped on Wedne…

Crude Oil

Energy outlook: Oil making a comeback in 2023, says WoodMac

With the global energy crisis still running the show, Wood Mackenzie, an energy intelligence group, has outlined ten predictions for the energy industry in 2023…

Crude Oil

Venezuela Loads Crude Under Eased Sanctions

Venezuela started loading 250,000 bl of Boscan heavy crude in Bajo Grande, Zulia state, this weekend for export to the US under eased sanctions that allow Chevr…

Oil Price

Oil Prices End 2022 Higher Despite Demand Concerns

A surprise rise in US crude stocks is weighing on futuresA trader at the New York Stock Exchange. Brent, which hit a 14-year high of $140 a barrel in March, has…

Oil & Gas Supply

Global Oil Demand Could See Surprise Surge in 2023, Says Top Hedge-Fund Trader

But electric-vehicle adoption may stand in way to full return to trend, says Pierre AndurandGlobal demand for crude oil could see a bigger surge than traders an…

Oil Price

Oil Prices Drop as China’s Surging COVID-19 Cases Raise Demand Concerns

Countries are imposing travel restrictions on the world's largest crude importerPump jacks in Argentina. The outlook remains highly uncertain for oil market…

Oil & Gas Trade

Putin Bans Export of Russian Oil to Countries That Implement Price Cap

Moscow: President Vladimir Putin Tuesday delivered Russia’s long-awaited response to a Western price cap, signing a decree that bans the supply of crude o…

Oil Price

Algeria Sets Reference Price For Oil At $60 Barrel Through 2023/2025 -APS

Fuel storage tanks are pictured in Algiers, Algeria April 21, 2020. REUTERS/Ramzi BoudinaDec 25 (Reuters) - Algeria has set the reference price for crude oil at…

Oil & Gas Trade

New Petrobras’ FPSO Begins Production

Brazilian oil and gas company Petrobras has put into operation its new floating, production, storage and offloading (FPSO) vessel P-71, ahead of the expected st…

Oil Price

Oil Prices Rise Over $2 On Drawdown In U.S. Crude Stocks

The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus MordantHOUSTON, Dec…