Crude

Crude Oil

Oil Price Falls for Second Day as Supply-Driven Rally Peters Out

Brent crude was down $1.03 or 1.3% at $78.06 a barrel by 0130 GMT, having fallen nearly $2 on Tuesday after touching $80.75, its highest in nearly three years.

Oil Exploration

DNO Makes Small North Sea Oil Find. Another Well Comes Up Dry

Oil and gas operator DNO has made a small oil discovery on the Gomez prospect in one of its operated licenses in the Norwegian part of the North Sea.

Oil & Gas Trade

Iran And Venezuela Strike Oil Swap Deal

Iran and Venezuela have struck a deal to swap heavy Venezuelan crude for Iranian condensate.

Crude Oil

Eni Adds New Field to Angola's Olombendo Crude Grade

Italian integrated oil firm Eni has started crude production from the Cabaca North project in Angola's deepwater block 15/06.

China

PetroChina, Hengli Win four Cargoes in First China Oil Reserve Sale

The prices were lower than the spot market as Middle East crude benchmark Dubai was at $74.09 a barrel on Thursday.

Oil & Gas Trade

Under U.S. Sanctions, Iran and Venezuela Strike Oil Export Deal

Venezuela has agreed to a key contract to swap its heavy oil for Iranian condensate that it can use to improve the quality of its tar-like crude, with the first…

Oil Price

Oil Price Hits Highest in Almost Three Years As Supply Tightens

Brent futures rose 84 cents, or 1.1%, to settle at $78.09 a barrel, while U.S. West Texas Intermediate crude rose 68 cents, or 0.9%, to settle at $73.98.

Crude Oil

Goldman Sachs: Here’s How Oil Prices Could Reach $90 This Winter

Brent could reach $90 per barrel if the weather in the northern hemisphere turns out to be colder than normal this winter, Goldman Sachs’ Jeff Currie said on W…

Crude Oil

Nigeria Hopeful Opec+ will Grant Baseline Change

Nigeria remains hopeful that the Opec+ group will grant its latest request to raise the baseline from which its crude output quotas are calculated, despite prev…

Crude Oil

US Gulf operators restore 70pc of Ida-halted oil output

US Gulf of Mexico offshore producers have brought back about 70pc of the oil output that was halted due to Hurricane Ida.

Crude Oil

Brent Nears $74 Amid Slow Return of US Oil Output

Brent crude neared $74 per barrel on Monday as it gained 31 cents or 0.42 cents to trade at $73.82 per barrel at the market, while the US West Texas Intermediat…

Crude Oil

Opec Lifts Oil Demand Forecast for 2022

Opec has increased its global oil demand forecast for 2022 by almost 1mn b/d, taking it back above 100mn b/d, even though there was some disquiet about this at …

Oil Price

Oil Rises to Six-Week High as U.S. Supply Concerns Dominate

Oil prices rose to a six-week high on Monday as U.S. output remains slow to return two weeks after Hurricane Ida slammed into the Gulf Coast and worries another…

Mexico

66% Of Gulf Of Mexico Oil Production Still Offline On Friday

The largest deepwater crude oil terminal in the United States has reopened in full after Hurricane Ida struck force a closure, a spokesperson said on Friday.

Crude Oil

Oil Slides After China Unexpectedly Releases Crude From National Reserve

Just hours after China revealed yet another high in producer price inflation, Beijing has taken the unprecedented step of releasing oil from its national crude …