Crude

Crude Oil

U.S. Crude Production Rose by 2% in 2024, Mostly From Permian, EIA Finds

In 2024, U.S. crude oil production increased by 270,000 barrels per day (bpd), reaching an average of 13.2 million bpd, according to the U.S. Energy Information…

Oil Price

Azerbaijani Oil Moves up in Price

On April 18, the price of Azerbaijan’s Azeri Light crude oil, delivered on a CIF basis to the Italian port of Augusta, rose by $0.88, a 1.28 percent incre…

Crude Oil

Qatar Raises June Term Price for Al-Shaheen Oil, Sources Say

QatarEnergy has raised the term price for al-Shaheen crude oil for June-loading cargoes, setting it at a $1.76 per barrel premium above Dubai quotes, according …

Biofuel

Malaysia Keeps May Crude Palm Oil Export Duty at 10%, Lowers Reference Price

Malaysia has set its export tax for crude palm oil at 10% for May, according to a circular published on the Malaysian Palm Oil Board website on Tuesday. The cou…

Metal

China March Crude Steel Output Jumps on Decent Margins, Rising Exports

In March 2025, China’s crude steel production increased by 4.6% compared to the previous year, reaching 92.84 million metric tons, according to data relea…

Oil Price

JP Morgan Cuts Oil Price Forecasts on Weak Demand, Higher Output

JP Morgan recently revised its oil price forecasts for 2025 and 2026, pointing to increased OPEC+ production and reduced global demand. The bank lowered its 202…

Crude Oil

Trio Petroleum Acquires Cash Flow-Positive Oil Assets in Saskatchewan, Canada

Trio Petroleum, a California-based oil and gas company, has finalized the purchase of petroleum and natural gas assets from Novacor Exploration in the Lloydmins…

Crude Oil

China’s Crude Oil Imports Highest Since August 2023 on Iranian Surge

China's crude oil imports in March reached 51.41 million metric tons, equivalent to 12.1 million barrels per day (bpd), according to data released by the Ge…

Crude Oil

Chevron Must Return Venezuelan Oil Before Sanctions Deadline, Sources Say

Chevron Corp. has been directed to return nearly 1 million barrels of oil to Venezuela’s state-owned company, Petroleos de Venezuela SA (PDVSA), affecting…

Crude Oil

USA Crude Flows to China Trickle to Near Zero After Tariff Blitz

The flow of oil from the United States to China, one of the world’s largest importers, is projected to drop significantly due to increasing trade tensions…

Oil & Gas Trade

Venezuela’s PDVSA Suspends Oil Loading Authorizations to Chevron, Sources Say

On Thursday, Venezuela’s state oil company, PDVSA, revoked several authorizations previously granted to U.S.-based Chevron for loading and exporting Venez…

Oil Refinery

US Refiners Unlikely to Spend Big to Process More Domestic Oil

U.S. refiners are hesitant to invest heavily in processing more domestic crude instead of oil from major suppliers Canada and Mexico, according to industry sour…

Crude Oil

Venezuela’s Oil Flows Again, After a Week of Panic

Many buyers of Venezuelan oil have resumed loading crude onto tankers after a week-long pause at the country’s ports. This follows U.S. tariffs imposed by…

Crude Oil

Occidental Petroleum Flags Higher Prices for Oil and Gas Production in Q1

On Wednesday, Occidental Petroleum, a U.S. shale company, reported that prices for its oil and gas production in the first quarter were higher than in the previ…

Crude Oil

India’s Reliance Shuts Crude Unit for 21 Days’ Maintenance, Sources Say

Reliance Industries, a major player in India’s energy sector, has initiated a 21-day maintenance shutdown at its refinery focused on the domestic market, …