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Crude
Crude Oil
Iran Plans To Boost Oil Production To 5 Million Bpd
Iran is determined to return to its pre-sanction oil production level of 5 million barrels per day, regardless of how the nuclear deal develops
Crude Oil
Iran Seeks to Return Oil Output to Pre-Sanction Levels
Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome…
Crude Oil
Brazil’s Oil Major Plans To Invest $68 Billion In Boosting Production
Brazil’s Petrobras plans to invest $68 billion in expanding its crude oil production, a figure that represents 84 percent of its total planned investments for …
Crude Oil
Brent Price Slides Amid Covid Concerns Ahead of Key Opec+ Meeting Next Week
Futures in London slid towards $80 a barrel as crude was swept up in a wave of caution across global markets
Oil Price
Goldman Says Oil Prices Already Account for a Joint SPR Release
The White House’s push for releases of oil from national reserves is already fully priced into the market following the drop in crude prices in recent weeks
Crude Oil
Opec's ECB Mulls 66mn bl SPR Release in Jan-Feb
An Opec advisory committee has been considering the possibility that as much as 66mn bl could be released from the strategic reserves of key oil-consuming count…
Crude Oil
Barclays Lifts Brent Oil Price Forecast To $80 In 2022
Brent Crude prices are set to average $80 a barrel in 2022, Barclays said on Tuesday, raising its forecast by $3 as it expects slower supply growth next year an…
Crude Oil
Russia’s Oil Reserves Are Becoming Increasingly Hard To Recover
Nearly all of Russia’s oil production will consist of the so-called hard-to-recover crude reserves unless the country speeds up and incentivizes exploration
Energy Technology
China: New Sinopec Downstream Technology Process Developed
China's Sinopec has developed a steam-cracking technology to convert oil directly into high-demand petrochemical products such as ethylene and propylene, cuttin…
Crude Oil
Biden Announces Global Effort to Ease Energy Costs
US president orders 50 million barrels of oil to be released from nation's strategic petroleum reserve
Oil Price
Global Oil Prices Retreat in Face of Supply and Demand Pressures
Brent crude was down 56 cents, or 0.7%, at $78.33 a barrel at 1157 GMT and U.S. West Texas Intermediate crude fell 54 cents, or 0.7%, to $75.40.
Crude Oil
OPEC Considers Lowering Production to Account for Oil Reserve Releases
OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a co-ordinated release of the…
Crude Oil
Colombia Desperately Needs To Ramp Up Its Oil Production
The COVID-19 pandemic has taken a particularly harsh toll on Colombia’s economically-dependent oil and gas industry.
Oil & Gas Trade
Saudi Retains Top Spot Among China Oil Suppliers
Saudi Arabia has remained China’s number-one crude oil supplier.
Oil Refinery
Refinery Closures About To Happen In Europe
Shell plans to end crude processing at the Wesseling site within the Rhineland refining complex in 2025 as the facilities are repurposed for non-fossil fuel fee…
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