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crude oil


CNN Editorial Research Here is an overview of crude oil reserves and production around the world. Facts Crude oil is a form of liquid petroleum, extracted from rock formations and used as fuel and for other purposes. Members of the Organization of the Petroleum Exporting Countries (OPEC) produce about 37% of the world’s crude oil …

Riyadh – British Prime Minister Riyadh – British Prime Minister Boris Johnson’s visit to the Arab Gulf region fell short of its objectives, after the latter sought to “exert pressure” in a bid to secure more oil flows. Observers said Johnson’s request to increase oil production had already been rejected before the prime minister began …

UK petrol prices could rise by 50% due to sanctions imposed on Russia by cutting oil supplies, Members have been warned. This would raise the cost of a liter of petrol to £2.40, from around £1.60 today, the Treasury Committee heard this afternoon. Dr Amrita Senresearch director at Energy Aspectstold the Treasury Committee that crude …

The energy transition threatens 16 tscm of gas The Organization of the Petroleum Exporting Countries (OPEC) has warned that the continued push against hydrocarbons could threaten the future of crude oil and gas reserves in Africa. As the continent has around 125 billion reserves of crude oil and 16 trillion standard cubic meters of natural …

The industrial facilities of the PCK Raffinerie oil refinery are pictured in Schwedt/Oder, Germany, March 8, 2022. The company receives crude oil from Russia via the ‘Friendship’ pipeline. REUTERS/Hannibal Hanschke Join now for FREE unlimited access to Reuters.com Register Oil surges in volatile market UAE officials have differing views on exit plans U.S. crude oil …

At its last monthly meeting on March 2, OPEC cited a “well-balanced market” in making the decision to maintain a production plan approved in April 2020 and reaffirmed in July 2021, according to an OPEC press release. . The press release on OPEC’s website also noted, “This current volatility is not caused by changes in …

An often overlooked and ignored aspect of the Venezuelan crisis is the considerable environmental degradation at the hands of OPEC member‘s decrepit oil industry. Of them decades of wrongdoing, mismanagement and corruption coupled with chronic underinvestment in the maintenance, repair and renovation of industrial infrastructure means that oil spills are almost a daily occurrence. Frequent …

The overwhelming majority of analysts expect Oil prices continue to climb, with Brent expected to be well above $100 a barrel by the end of this year. Prices at the pump are also rising, but this time it will take more than an SPR publication for the Biden administration to reduce them. And help does …

Following the circulation of adulterated gasoline in Nigeria, which damaged vehicle engines last week, the federal government turned away two tankers carrying loaded gasoline in Antwerp, Belgium, and bound for Lagos, a learned THISDAY. It comes as the Organization of the Petroleum Exporting Countries (OPEC) and its allies have continued to produce crude oil below …

India is back on the diplomatic table to push oil-producing countries to increase production in a bid to calm oil prices. Brent crude oil prices traded above $90 a barrel on Thursday for the first time since 2014. Brent is the most popular marker for crude oil trading. It is used as a benchmark for …

Azerbaijani Foreign Minister Jeyhun Bayramov and Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammed Barkindo discussed prospects for cooperation in Vienna, Austria, the ministry reported on January 20. Speaking about the organization’s successful cooperation with Azerbaijan in the OPEC Plus format, Bayramov said that Azerbaijan is interested in continuing its partnership …

Just as the world had begun to move towards greater openness away from border closures since the outbreak of the Covid-19 pandemic nearly two years ago, the recent global upsurge in the Omicron variant has once again affected supply chain networks, as at least 56 countries have reimposed some forms of travel restrictions. Southeast Asia’s …

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured on the wall of OPEC‘s new headquarters in Vienna March 16, 2010. REUTERS/Heinz-Peter Bader/File Photo Join now for FREE unlimited access to Reuters.com Register NEW DELHI, Jan 20 (Reuters) – OPEC’s share of Indian oil imports fell in 2021 to its lowest …

Markets OPEC+ output is still lagging, but a new S&P Platts survey shows OPEC+ December output rose 310,000 bpd, higher than Reuters figures. Of that, OPEC‘s production increased by 190,000 bpd on its 235,000 share, and production by OPEC’s allies increased by 120,000 bpd. Most of the production increases came from Venezuela, Kazakhstan, Saudi Arabia, …

Strong points United States to adopt pre-pandemic exit by 2023 EIA says OPEC has a lot of spare capacity U.S. gasoline prices will remain a challenge for Biden The US Energy Information Administration raised its oil price outlook for 2022 on Jan. 11 by nearly $ 5 / bbl from last month, but sees those …

Energy prices have skyrocketed in 2021, with gas, oil, coal, electricity and carbon all rising largely amid a spike fueled by geopolitical tensions surrounding Russia, which supplies a third of European gas. The “sharp rise in prices was probably the most dramatic development in commodity markets in 2021,” noted Barbara Lambrecht, analyst at Commerzbank. The …

December 28, 2021 3:26 p.m. (UTC + 04:00) 282 By Ayya Lmahamad The U.S. Energy Information Administration (EIA) has updated its forecast for Azerbaijan’s average daily oil production for 2022. In its report released in December, the agency cut its forecast for the country’s daily oil production for 2022 from 10,000 barrels to 740,000 barrels. …

BANGKOK (AP) – Major global equity benchmarks were mixed at the start of the last trading week of the year as countries grapple with the spread of the omicron coronavirus variant. The benchmarks were stable Monday morning in Paris and Frankfurt and fell in Shanghai, Bangkok, Tokyo and Seoul. Taiwan and India were higher. London …

Each day, Benzinga will look back on a notable market-related moment that occurred on that date. What happened? On December 22, 1973, OPEC announced that it would unilaterally increase the price of crude oil from $ 5.12 per barrel to $ 7 per barrel. Where was the market? The S&P 500 was trading at 93.54 …

Libya has declared force majeure on oil exports even as oil prices around the world collapse. The Libyan National Oil Company (NOC) said crude oil production had been halted at four of Libyan oil fields, including the prolific El Sharara. El Sharara, Libya’s largest oil field, has a capacity of 300,000 bpd. Other closed oil …

By Susana Arreola December 10, 2021 Gerald Sastra / The Cougar As gasoline prices continue to rise, students, especially commuters, are affected. Energy economics professor Edward Hirs shared his thoughts on what could be the main cause of the sudden surge in gas prices across the country. “OPEC wants a higher price for crude oil. …

But American Petroleum Institute CEO Mike Sommers told CNN that the powerful oil and gas trading group was “absolutely” taking the risk of an export ban seriously, including relying on Moderate Democrats to dissuade White House officials from the idea. “We are mobilizing all of our strength. We are doing all we can,” Sommers said …

OPEC continued to increase oil production in November as part of the OPEC + deal, but the cartel continued to pump less crude than its share of the monthly increase, the monthly survey revealed on Tuesday. Reuters. As part of the OPEC + deal, the ten OPEC members bound by the OPEC + Pact are …

But lack of investment seems to guarantee tight supplies in the short term, says Vitol: File Image / Pixabay Crude trading on the we Thanksgiving Thursday ended with smaller losses for two key landmarks, in the aftermath of the Organization of Petroleum Exporting Countries (OPEC) warning that the effort by several countries to free up …

© Reuters. By Geoffrey Smith Investing.com – The dollar hit a 16-month high, with the highest inflation in 30 years in the United States prompting betting on higher interest rates. The same movement has also gained the upper hand in the oil market, which awaits the monthly OPEC report. Elon Musk appears to have finished …

President Joe Biden spoke to gasoline prices in California last month on Wednesday. MARKETWATCH PHOTO ILLUSTRATION / GETTY IMAGES OPEC and its oil-producing partners rebuffed President Joe Biden’s calls for increased production amid rising fuel prices, retorting that if the United States believes the global economy needs more energy, then they have the capacity to …

Washington has called on OPEC and Russia to increase oil production to help bring down the soaring fuel prices that have hit the United States and several developing countries. Oil prices have continued to rise across the world as the United States and OPEC members vie for increased production, risking more problems for consumers in …

© Reuters. By Barani Krishnan Investing.com – Just 24 hours after the biggest selloff in oil since early October, the bulls were back to buy the lows and take US crude to a higher settlement on Thursday. Brent closed lower for a second straight day. But with another day at the end of the week, …

GLOBAL MARKETS DJIA 35490.69 -266.19 -0.74% Nasdaq 15235.84 0.12 0.00% S&P 500 4551.68 -23.11 -0.51% FTSE 100 7253.27 -24.35 -0.33% Nikkei Stock 28832.69 -265.55 -0.91% Hang Seng 25636.70 7.96 0.03% Kospi 3030.33 4.84 0.16% SGX Nifty* 18262.50 9.0 0.05% *Nov contract USD/JPY 113.58-59 -0.20% Range 113.86 113.55 EUR/USD 1.1608-11 +0.06 Range 1.1611 1.1590 CBOT Wheat …

Although the OPEC + alliance is currently increasing its collective production of crude oil slightly above what they agreed to, not all members of the group can quickly increase their production, Russian President Vladimir said. Putin at an event on Thursday. “Currently, OPEC + countries are increasing their production volumes, even a little more than …

Since no real change resulted from last week’s elections in Iraq, fiercely anti-American radical cleric Moqtada al-Sadr is still the de facto leader – his latest crude oil production ambitions should be seen as they always have been: that is, looking theoretically at what could be achieved, and that practically at what is likely to …

Years after 13 companies were approved by the federal government to operate modular refineries and further help increase fuel production nationwide, refineries have yet to fully take off due to certain challenges, writes AKINOLA AJIBADE. From lack of funds, poor feasibility studies, poor technical and managerial skills, the increase in the cost of technologies caused …

The meeting last week between Russian Deputy Prime Minister Alexander Novak and Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman to discuss expanding and deepening cooperation between two countries in the energy sector and others marks a key point in Moscow’s ongoing attempts to decisively separate the Kingdom from its longtime ally, the United States. …

October 17 – Motorists in Berks County faced harsh weather conditions last summer. However, when it comes to the price of a gallon of gasoline, they’re still in the middle of what turns out to be a perfect storm for consumers. Prices at Berks Friday averaged $ 3.45 a gallon for regulars, according to GasBuddy. …

Getty Images Oil prices in the United States have hit a new seven-year high amid rising global demand and tight supply. The price of WTI crude oil is now at its highest since OPEC launched a price war against shale producers. Meanwhile, the price of Brent crude oil hit a new three-year high, surpassing $ …

A 3D printed oil pump cylinder is seen in front of an OPEC logo displayed in this illustration photo, April 14, 2020. REUTERS / Dado Ruvic LONDON, Oct. 13 (Reuters) – OPEC downgraded its forecast for global oil demand growth for 2021 while maintaining its vision for 2022, its monthly report said on Wednesday, but …

Stagflation: This ghoul from the era of the shag mat and disco balls. This is something that has not been seriously discussed in business circles since the late 1970s. But today, as inflation hits decades-long highs and companies say the bottom line could end. Apart from being disappointing in the coming quarters due to rising …

Abuja – The Organization of the Petroleum Exporting Countries (OPEC) maintained yesterday that no country, including Nigeria, which has underperformed on meeting its monthly oil quota allocation, will see its baseline increased. The group of oil producers insisted that it goes against common logic that Nigeria, which has still not met its quota in the …

(The Conversation is an independent, nonprofit source of information, analysis, and commentary from academic experts.) (THE CONVERSATION) An oil spill first reported on October 2, 2021, released thousands of gallons of crude oil into southern California coastal waters. The source is believed to be a leak in an underwater pipeline connected to an oil drilling …

MSCI World Index breaks losing streak Wall Street wins but European stocks fall S&P and the Nasdaq post the biggest weekly declines since February 2. Oil prices rise Dollar, Treasury yields slide NEW YORK, Oct. 1 (Reuters) – Global equities rebounded in volatile trading on Friday, with debate over the timing of future interest rate …

It’s been a huge week for energy – and a painful week for the countries that pay the price for it. Global benchmark Brent crude briefly hit its highest level in nearly three years this week. And the Organization of the Petroleum Exporting Countries predicts that crude will reign supreme over the next several decades, …

Editor’s Note: With such market volatility, stay up to date with the daily news! In minutes, discover our quick summary of today’s must-see news and expert opinions. Register here ! (Kitco News) – Gold prices are lower and hit a six-week low at noon in the US on Wednesday, as early modest gains were erased …

AAA WOODED – Idaho drivers saw relief at the pump this week, but the sentiment could be short-lived – AAA says rising crude oil prices could keep gas prices high until l ‘fall. Today, the average price of regular in Gem State is $ 3.75 a gallon, two cents less than a week ago and …

Crude Oil Fundamental Forecast: Bullish WTI crude prices build on recovery as global growth rate of Covid cases continues to slow Traders have ruled out the risks of Evergrande, but the situation still remains fluid Oil outlook remains optimistic ahead of OPEC annual report and coalition meeting WTI crude oil prices rallied sharply last week, …

The energy crisis in Europe continues, as gas storage volumes have fallen to their lowest level in 10 years. A harsh winter could lead to severe energy shortages and possible shutdowns of large parts of the economy. With the main discussion currently focused on Russia’s potential role in the energy crisis, a new narrative may …

Since the controversial 1899 decision fixing the border between Venezuela and Guyana, Caracas has repeatedly challenged the decision, claiming that the 61,000 square miles west of the Essequibo River belonged to the Bolivarian Republic. That controversy has intensified in recent years with authoritarian Venezuelan President Nicolas Maduro reinvigorating the claim as a way to distract …

Over the past week, oil prices have been supported by favorable demand prospects and bullish statistics from the US Energy Information Administration. Last week on Wednesday, prices hit a six-week high as the Organization of the Petroleum Exporting Countries and the International Energy Agency predicted a strong rebound in global oil demand, while another storm …

(www.zengernews.com) – Oil prices edged up on Wednesday, with a federal inventory levels report showing lower and a market focus on OPEC news, analysts told Zenger. Crude oil prices fell nearly 1% in Wednesday’s trading session, but moved closer to neutrality after a formal decision on OPEC + production was announced. West Texas Intermediate, the …

Dow Jones, Crude Oil, Energy Stocks, Corporate Taxes, Nikkei 225, US CPI, Technical Analysis – Asia Pacific Indices Briefing Dow Jones wins with energy stocks as OPEC monthly report raises crude oil prices Nasdaq 100 drops as Democrats release updated Biden tax plan, eyes on corporate rate Nikkei 225 could follow Wall Street’s rather rosy …

Oil price forecasters mainly focus on two things: supply and demand. They watch the Middle East, follow world politics, follow industrial activity and other economic indicators. All of this can affect supply and demand. Now they are also monitoring medical records for COVID-19 infection rates. Market participants in oil producers, buyers, traders and investors fear …

Demand for U.S. petroleum products has increased while production only rose last week, the Energy Information Administration (EIA) said. The result: a significant drop in national oil inventories that left inventories well below historical averages. Certainly, the fallout from Hurricane Ida and the continued impacts of the Delta coronavirus variant are adding wrinkles for weeks …

BRAZZAVILLE – OPEC chief Mohammad Barkindo arrived in Congo on Sunday on the first-ever visit of a powerful cartel leader to the oil-rich African country where crude oil is the main source of income, the ministry said. Congolese hydrocarbons. “Congo has a vital role to play in the global energy industry and OPEC plans to …

August 22, 2021 12:15 p.m. (UTC + 04:00) 265 By trend Azerbaijan’s oil supply (excluding condensate) stood at 0.61 million barrels per day in July 2021, unchanged from June 2021, Trend reports with reference to the International Energy Agency ( OUCH). The country’s compliance with the OPEC + agreement in July 2021 was 114%, according …

After weeks of rising oil prices, oil companies announced Monday that they would cut fuel prices at the pump this week. Gasoline prices will drop by 0.65 P per liter, diesel by 0.70 P per liter and kerosene by 0.75 P per liter. The new price adjustment takes effect at 6 a.m. on Tuesday August …

Sub-Saharan Africa, especially its largest oil producers Nigeria and Angola, will struggle to increase oil production until the middle of this decade, as international majors shift their investment priorities, data and analytics firm GlobalData said on Friday. Lack of sufficient investment and few new projects could derail sub-Saharan Africa’s ambition to increase crude oil production …

India’s crude oil imports tab for the first quarter of its fiscal year climbed 190% to $ 24.7 billion, although volumes rose only modestly, 14.7% on the year, reports the Hindustan Times. The substantial increase reflects the sustained increase in international oil prices, once again underscoring the overwhelming dependence on foreign oil of major global …

[Updated 2021/08/04] Shares of EOG Resources (NYSE: EOG) observed a 20% correction over the past month, as benchmark prices fell as OPEC eased production cuts. The company has not cut dividends in the past year as its assets have continued to generate returns despite uncertain demand for crude oil. This is largely due to the …

June production averaged 4.05 million barrels per day. Iraq will have additional leeway to increase production under a landmark deal recently reached by the OPEC-plus group. Basra Oil Company workers reconnect the flares at the Nahr Bin Omar oil field further from residential areas. (Source: Basra Oil Company media office) Iraq produced 4.05 million barrels …

Randy Giveans, SVP of Maritime Shipping Equity Research, Jefferies, joins Yahoo Finance to analyze the outlook for the energy market and gas prices. Video transcript ALEXIS CHRISTOFOROUS: All right, Randy Giveans, senior vice president of marine equity research at Jefferies, is joining us now. Randy, good to see you. I want to start with one …

Oil lines stand near the King Abdulaziz Center for World Culture, developed by Saudi Aramco, in Dhahran, Saudi Arabia on Sunday, December 8, 2019. Photograph by Tasneem Alsultan / Bloomberg Text size Here’s what you need to know to navigate the markets today. • US stocks are expected to open slightly lower on Monday. As …

July 13 (UPI) – The International Energy Agency warned on Tuesday that a rift between the world’s largest cartel of oil producers and its allies means oil markets – and gas prices – are likely to be volatile for the foreseeable future. In his Oil Market Report, the IEA noted that global oil supplies, prices …

Global stocks were mixed on Monday in calm trading, with US markets closed after the July 4 holiday. London and Shanghai advanced, while Paris, Tokyo and Hong Kong fell. U.S. futures fell slightly after Wall Street closed a landmark week on Friday, with stock indexes hitting record highs as investors hailed a report showing the …

MOSCOW (UrduPoint News / Sputnik – July 1, 2021) The OPEC Conference meeting and the OPEC and non-OPEC ministerial meeting are expected to meet on Thursday in online format to determine the volume of oil cuts in August and discuss levels of compliance with oil production quotas in May. The 181st meeting of the OPEC …

New Delhi, June 29 (PTI) Ahead of a meeting of the OPEC oil producers cartel, India said on Tuesday that current oil prices are “very difficult” and that rates must be “a not very sober “so as not to have an impact on consumption. recovery of the global economy. Oil Minister Dharmendra Pradhan, who again …

For the first time in nearly a decade, OPEC has good reason to believe that its control over the global oil supply will not be ruined by increased crude oil production in the United States. The continued restriction of drilling activity in the shale area would greatly facilitate the efforts of OPEC and its allies …

The Union government is in talks with state-owned energy companies and private refiners to synergize crude imports worth more than $ 100 billion a year so that they can collectively negotiate better prices from global oil producers at a time when auto fuel rates have skyrocketed ₹100 per liter in several Indian cities. Although refiners …

OPEC + gave the oil industry a lifeline when it needed it most. This is according to OPEC Secretary General Mohammad Sanusi Barkindo, who expressed his point of view at the ninth technical meeting of OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC) . “Our joint efforts to rebalance the market through …

As US President Joe Biden preaches a net zero emissions target for 2050 to slow global warming, and activist shareholders force Exxon Mobil Corp. in embracing solar and wind power, Saudi Arabia sees a bright future for what it does best: oil. Let others indulge their fantasies that alternative fuels can negate the need for …

Editor’s Note: With such market volatility, stay up to date with the daily news! In minutes, discover our quick summary of today’s must-see news and expert opinions. Register here ! (Kitco News) – Gold and silver prices are lower and close to their daily lows at noon Tuesday. Present in both metals today, weak-handed bulls …

Hello! The traditional cycle of oil boom and bust appears to have entered the boom phase, with oil prices climbing this morning to their highest level since October 2018. US crude oil prices hit US $ 71 a barrel this morning as a surge in demand has yet to be met by a strong supply …

Oil is expected to trade between $ 68 and $ 75 a barrel in the second half of this year, Iraqi Oil Minister Ihsan Abdul Jabbar said. Crude prices will stay within this range if Opec and its allies continue to cut production to support markets, Jabbar told reporters in Baghdad on Saturday. There have …

Over the next couple of months we would like to see oil prices at $ 70 a barrel as support and oil prices could rise during that time, but it is the level that starts to trigger the return of the OPEC group more on the market. , says Paul Hickin, Associate Director-Oil, S&P. ET …

LONDON (ICIS) – Global crude oil demand for petrochemicals will remain strong in 2021, but will slow significantly in 2022, the International Energy Agency (IEA) said on Friday. Supply, in any case, should match demand, as many crude oil producers would be able to increase production in a relatively short period of time. Demand for …

Thursday June 10, 2021: The exchange rate between the naira and the US dollar closed at 411.83 naira / 1 dollar at the official counter for investors and exporters. The naira depreciated against the US dollar on Thursday to close at N411.83 per dollar, down 0.21% from the N410.95 / $ 1 recorded on Wednesday, …

The rebound in global oil demand is expected to accelerate in the second half of 2021 as the world continues to burn off the supply glut it accumulated last year, the Organization of the Petroleum Exporting Countries said on Thursday. . In its monthly market report, OPEC highlighted data showing that crude inventories in developed …

Muscat: The rise in Oman’s oil prices continued on Wednesday on the Dubai Mercantile Exchange (DME) to reach $ 71.38. This includes an increase of $ 1.78 from Tuesday’s price, which was $ 69.60. “The average price of Oman oil (June 2021 delivery) has stabilized at $ 63.10, which is $ 1.33 a barrel lower …

Commodities traded mixed in the first week of June, with buying fatigue showing in both precious and industrial metals, while grains and especially the energy sector rose. Overall, the Bloomberg Commodity Spot Index hit a new ten-year high despite concerns that stronger-than-expected macro data from an overstimulated US economy could see the Federal Reserve start …

After, in recent months, crude oil prices have clearly recovered from their COVID-19 collapse on steadily increasing demand, Russian Deputy Prime Minister Alexander Novak addressed the much-anticipated decision-making in the next OPEC + conference scheduled for August and the expectation that it will decide to increase production significantly beyond the current pandemic-induced strategy of gradually …

Global equity markets rallied on Wednesday ahead of major US economic data due later in the week, as investors weighed in over inflation concerns and a new surge in so-called “memes stocks.” Oil prices hit their highest level in more than a year following a decision by OPEC and its allies to stick to the …

UK gasoline prices are expected to rise for a seventh consecutive month after hitting a two-year high over the weekend. The price of unleaded exceeded the average by 129 pence per liter, its highest point since June 2019, as the rise in the price of crude oil was offset by growing demand from drivers. The …

NEW DELHI: Saudi Arabia, the world’s largest oil exporter, said on Sunday it was determined to meet India’s needs for petroleum products, a claim that came as a result of the country’s desire to ” relax cuts in global production to curb the surge in oil prices. In an interview with PTI, Saudi Ambassador Dr …

After more than a year of volatility due to a pandemic and weak demand for oil, Saudi Arabia is currently experiencing an oil export boom. Saudi Arabia’s oil exports rose 75 percent year-on-year in March, to a value of nearly $ 14 billion, according to a report by the General Statistics Authority (GASTAT), crude oil …

(Rep. Liz Cheney, Twitter) CASPER, Wyo. – In front of a crowded field of challengers in the 2022 general electionUS Representative for Wyoming Liz Cheney is back in Wyoming to praise her commitment to fighting for the state’s oil and gas industry in recent days. Cheney said on Twitter Tuesday that she visited Jonah Energy …

On March 24, 2020, Prime Minister Narendra Modi announced the imposition of a nationwide lockdown in India to prevent a surge in Covid-19 infections. May 24 marks 14 months since the imposition of this lockdown. For 68 days from March 25, 2020, India was in an almost complete lockdown. While restrictions were relaxed significantly in …

BRAZIL – 07/13/2020: In this photo illustration, the Cimarex Energy logo seen displayed on a … [+] smartphone. (Illustration photo by Rafael Henrique / SOPA Images / LightRocket via Getty Images) SOPA / LightRocket images via Getty Images [Updated 05/25/2021] In a recent press release, Cimarex Energy (NYSE: XEC) announced an all-equity, peer-to-peer merger with …

The ten OPEC members bound by the OPEC + production agreement have increased their collective crude oil exports by more than 1 million barrels per day (bpd) so far in May, according to Petro-Logistics mentionned Friday. All OPEC crude oil exports – including Iran, Venezuela and Libya which are exempt from the OPEC + Pact …

The world’s largest oil-exporting region, the Middle East, aims to become a major exporter of clean green hydrogen energy. The biggest oil producers in the Arabian Gulf have jumped on the hydrogen bandwagon – especially its so-called green variety produced from electrolysis of water using solar or wind electricity – as it gaining momentum with …

The extension of production cuts by OPEC and lower levels of crude oil inventories pushed up benchmark prices. Thus, the actions of the leading upstream company, ConocoPhillips (NYSE: COP) reached pre-Covid levels thanks to additional cash generation from benchmark price growth. According to recent documents, the company announced a debt reduction plan along with quarterly …

A 3D printed oil pump jack is seen in front of the OPEC logo displayed in this illustration photo, April 14, 2020. REUTERS / Dado Ruvic / File Photo OPEC said an IEA report suggesting that investors should not fund new oil projects to reduce emissions could lead to oil price volatility if implemented. The …

May 5, 2021 OPEC’s voluntary production cuts have helped reduce US imports of crude oil from OPEC so far in 2021. However, the comparatively stable US imports of crude oil from Canada are mainly the result of long-term trends. Between 2005 and 2020, U.S. imports of crude oil from OPEC members declined rapidly, but imports …

Oil costs made the primary weekly acquire after three straight weeks of decline, regardless of the rising variety of COVID-19 instances and extra journey restrictions. The Group of the Petroleum Exporting International locations (OPEC) and the Worldwide Vitality Company (IEA) each improved their prospects for oil demand after large declines in oil shares within the …

INDIANAPOLIS, March 3, 2021 /PRNewswire/ — Calumet Specialty Merchandise Companions, L.P. (NASDAQ: CLMT) (the “Partnership,” “Calumet,” “we,” “our” or “us”), a number one unbiased producer of petroleum-based specialty merchandise, immediately reported outcomes for the fourth quarter and yr ended December 31, 2020, as follows: Three Months Ended December 31, Yr Ended December 31, 2020 2019 2020 2019 …

Pump cylinders function within the Permian Basin in Midland, Texas, United States on Saturday, February 13, 2021. Matthew Busch | Bloomberg | Getty Photos The shock winter storm in Texas that left thousands and thousands of individuals with out electrical energy and claimed dozens of lives additionally froze a significant native product: Lone Star State’s …

By Kevin crowley positive 02/24/2021 Scott Sheffield, CEO of Pioneer Pure Assets HOUSTON (Bloomberg) – Sturdy demand for crude oil and low shale development charges imply OPEC and its allies now not have to fret about competing for US market share, based on Pioneer Pure Assets Co. “I’m nonetheless assured that demand will come again …