Crude

Oil & Gas Supply

Opec+ JMMC Recommends Sticking to Output Policy

The Opec+ Joint Ministerial Monitoring Committee is recommending sticking to a 400,000 b/d combined crude quota increase for December, two delegates said, even …

Crude Oil

Oil Exporters to See Large Surpluses in 2021 and 2022 Amid Higher Crude Prices

Prices are also up because of underinvestment in the sector, which led to tighter supply

Oil Price

Opec+ Set to Meet Amid Calls for Lower Prices as Oil Hits Multi-Year Highs

Crude prices have surged in recent months as economies reopen after months of lockdowns

Crude Oil

OPEC+ Lgnores Calls For More Crude, Adds Meagre 140,000 Bpd In October

OPEC+ added just 140,000 barrels daily of crude oil last month

Oil Exploration

Equinor Makes Iits 6th Norwegian Oil Discovery of 2021

Equinor EQNR.OL has made an oil discovery estimated to hold up to 62 million barrels of crude off the coast of Norway.

Crude Oil

OPEC Rejects Biden’s Call for More Oil

OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasolin…

Oil Price

Bank of America Expects $120 Oil by June 2022

Bank of America expects Brent crude to hit $120 a barrel by the end of June 2022.

Oil Price

Aramco Books 158% Surge In Q3 Net Profit On Higher Oil Prices

Saudi state energy giant Aramco booked a net profit of $30.4 billion for the third quarter of the year, up by 158 percent from the third quarter of 2020 on subs…

Crude Oil

Iraqi Crude Exports Inch up in October

Iraqi crude exports marketed by state-owned Somo edged up in October, according to preliminary figures from the country's oil ministry.

Oil Price

Oil Prices Set for First Weekly Drop Since August As Supply Concerns Ease

U.S. West Texas Intermediate crude futures fell 4 cents to $82.77 a barrel by 0151 GMT.

Mexico

Mexico's Pemex Back in Red Despite Oil Production Uptick

​Higher tax payments and foreign exchange losses pushed Mexico's Petroleos Mexicanos back into the red in the third quarter, even as crude production recovered…

Oil Price

Oil Falls After Increases in U.S. Crude, Fuel Stockpiles

Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in th…

Oil Price

Global Supply Shortages are Driving up Alaska Oil Prices

Alaska’s oil prices are at their highest since 2014 amid a global energy crunch.

Oil Price

Brent Oil ‘Scarcity Premium’ Widens as $100 a Barrel Forecast

The scarcity premium embedded in the structure of Brent crude oil futures has widened to the most since 2013 this week, a sign of the tight market underpinning …

Oil Refinery

France's Feyzin Refinery Restarts Crude Runs

TotalEnergies has restarted the crude distillation unit at its 105,000 b/d Feyzin refinery near Lyon around three weeks after a fire halted operations.