Crude

Crude Oil

Oil Prices Rise On Record U.S. Oil Demand

The price of WTI crude rose nearly 2% on Thursday on EIA reports that U.S. implied petroleum products demand had risen to record heights.

Oil & Gas Trade

China’s Oil Imports Are Set To Slow In Q1

Chinese imports in March 2022 are set to be around 10.7 million barrels per day (bpd).

Oil Pipeline

Key Ecuador Crude Oil Pipeline Ruptures While Halted by Erosion

Erosion in the Amazon region has ruptured Ecuador's state-owned pipeline SOTE, the same problem that led to its shutdown last week, the Energy Ministry said on …

Crude Oil

Global Oil Supply Set to Outpace Demand Amid Higher Production, IEA Says

The surge in new Covid cases is expected to 'temporarily slow' but not upend the recovery in demand

Crude Oil

OPEC+ Undershoots Oil Production Target Again

The OPEC+ group delivered the 400,000-bpd production increase in November, but it was still more than half a million barrels per day short of its overall oil pr…

OPEC

Opec Revises Higher Call on Its Own Crude in 2021-22

Opec has revised higher the 2021 and 2022 forecast call on its own members crude as it increased oil demand expectations for both years, saying it expects the C…

Crude Oil

Opec Maintains 2022 Demand Outlook and Expects Mild Impact from Omicron Variant

The group maintained its oil demand forecast for next year at 4.2 million barrels per day

Crude Oil

Oil Prices Steady and on Course for Biggest Weekly Gain Since Late August

Lingering concerns as to whether the Omicron variant may push border movement restrictions during the festive season

Oil & Gas Trade

U.S. to Sell 18 mln Barrels of Oil from Reserves on Dec 17

The U.S. Department of Energy said on Friday it will sell 18 million barrels of crude oil from the strategic petroleum reserve on Dec. 17, as part of a previous…

Oil & Gas Supply

Oman Bases 2022 Budget on Oil Price of $50/b, up from $45/b in 2021

2022 oil output forecast at 1.055 mil b/d vs 960,000 b/d in 2021

Crude Oil

Tarim Oilfield Produces Over 30-mln-tonne Oil, Gas Equivalent

The Tarim Oilfield of China National Petroleum Corporation, China's leading oil and gas producer, produced more than 30 million tonnes of oil and gas equivalent…

Crude Oil

Saudi Arabia Will Supply Full Volumes To Asia

Saudi Arabia will supply full contracted oil volumes to most of its buyers in Asia.

Crude Oil

Iraqi Crude Output Rises to 18-month High of 4.21 mil b/d in Nov: SOMO

Iraqi crude oil production, including flows from the semi-autonomous Kurdistan region, rose to an 18-month high of 4.208 million b/d in November.

Crude Oil

White House not Considering Crude Export Ban

President Joe Biden's administration has all but ruled out the idea of pursuing a ban on crude exports, following an outcry from the oil industry and its allies…

Crude Oil

Top U.S. Shale Producer Worries Oil Prices could Run too Hot

Scott Sheffield, the chief executive of top U.S. shale producer Pioneer Natural Resources Co, on Tuesday said he worries oil prices could get too high and furth…