CDN and International News

By Robert Harvey CPC Blend exports drop to 1.14 million bpd from initially planned 1.7 million bpd Kazakhstan may have to curb output, given lack of alternative export routes, analyst says Global oil majors hold stakes in Kazakh oil industry MOSCOW/LONDON, Dec 24 (Reuters) – Kazakhstan’s exports of its flagship CPC Blend of oil will …

Kazakhstan’s December Crude Exports Sink to 14-Month Low After Ukraine Drone Strikes Read More »

Clyde Russell LAUNCESTON, Australia, Dec 23 (Reuters) – Conventional wisdom in the crude oil market is that producers such as OPEC+ largely determine the price by altering output levels to achieve a desired outcome. That shibboleth was challenged in 2025 by China, which used its status as the world’s biggest oil importer to provide an effective price floor …

China Overtakes OPEC+ as the Main Oil Price Maker Read More »

(Reuters) – Venezuela’s state-run oil company PDVSA has started filling up tankers with crude and fuel oil it has in storage as inventories mount amid moves by the U.S. to seize Venezuela-linked ships, according to company documents and shipping data. The U.S. Coast Guard this month intercepted the Skipper and Centuries tankers in the Caribbean …

Venezuela Resorts to Floating Storage as Onshore Tanks Fill Up Amid Ship Seizures Read More »

China’s foreign ministry on Monday said the United States’ seizure of another country’s ships was a serious violation of international law, after the U.S. intercepted a China-bound oil tanker off the Venezuelan coast. Venezuela has the right to develop relations with other countries, China’s foreign ministry spokesperson Lin Jian said at a daily press briefing, …

China Says US Seizure of Ships ‘Serious Violation’ of International Law Read More »

Summary Deal includes $2.7 billion cash, $500 million in shares Deal may boost Harbour’s output to 500 kboepd by decade’s end Harbour expects acquisition to enhance free cash flow from 2027 Dec 22 (Reuters) – Britain’s North Sea-focused Harbour Energy  said on Monday it would buy deepwater oil and gas exploration and production company LLOG …

UK’s Harbour Energy enters Gulf of Mexico with $3.2 billion LLOG deal Read More »

By Ron Bousso LONDON, Dec 19 (Reuters) – Oil prices slumped below $60 a barrel this week as investors try to make sense of U.S. President Donald Trump’s push to end the war in Ukraine and force out Venezuelan President Nicolas Maduro. Yet the real driver of prices in the months ahead is likely to …

COMMENTARY: Surging Barrels at Sea Spook Oil Markets More Than Russia or Venezuela Read More »