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Brent crude oil is expected to average $65 per barrel next year, Barclays said on Thursday, while projecting a supply surplus for the year. “We expect a 1.9 million barrels per day surplus next year, but inventories remain low and builds continue to surprise to the downside,” Barclays said in a note. It added that …
Brent Should Average $65/Bbl in 2026, Barclays Says Read More »
(Reuters) – Oil exports of the Caspian Pipeline Consortium (CPC), which ships oil from Kazakhstan via a pipeline and subsequently a Russian Black Sea terminal, declined by 12% in November from October, two industry sources said on Thursday. CPC, which handles around 80% of Kazakhstan’s oil exports, was attacked by a Ukrainian drone on November …
Oil Exports Via Caspian Pipeline Down 12% in November m/m, Sources Say Read More »
A trader works as a screen displays the trading information for BlackRock on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. REUTERS/Brendan McDermid/File Photo (Reuters) – BlackRock has sold a 7.1% stake in Spanish gas utility Naturgy for around 1.7 billion euros ($1.99 billion) through an accelerated …
BlackRock Sells 7% Stake in Naturgy for $2 Billion Read More »
(Reuters) – World oil supply will match demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with projections from the International Energy Agency and others of a huge glut. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries, Russia and other allies plans to pause production hikes in the …
OPEC Data Indicate Close Oil Supply-Demand Balance in 2026, No Glut Read More »
The International Energy Agency lifted its 2026 global oil demand growth forecasts while trimming its supply growth predictions in its latest monthly oil market report on Thursday, implying a slightly narrower surplus for the market next year. The Paris-based agency now expects global oil supply to exceed demand by 3.84 million barrels per day, compared …
IEA Trims Global Oil Market Surplus Forecast for 2026 Read More »
Canada’s Cenovus Energy on Thursday forecast higher crude oil production for 2026 as major oil sands projects near completion. The company expects upstream production between 945,000 and 985,000 barrels of oil equivalent per day (boepd) for 2026, surpassing its 2025 forecast range of 805,000 to 845,000 boepd.The producer said it would allocate C$850 million in spending …
Cenovus Energy Forecasts Higher Production in 2026 Read More »
(Reuters) – Oil buyers in Asia are demanding deep discounts on Venezuelan crude due to a flood of sanctioned oil from Russia and Iran on offer and to heightened risk of loading in the South American country as the U.S. boosts its military presence in the Caribbean, traders and other sources said. Venezuela has managed …
Venezuela Forced to Double Discount on Oil to Asia Due to Flood of Sanctioned Crude Read More »
(Reuters) – U.S. sanctions against Russian oil majors Lukoil and Rosneft could trigger a structural reshaping of the global oil sector over the next year, reversing Moscow’s decades-long efforts to expand its international clout through energy investment. When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly …
Trump Sanctions on Lukoil, Rosneft Could Reshuffle Global Oil Map: Vladimirov Read More »
Ron Bousso (Reuters) – Venezuela is likely to retain its seat in OPEC even if U.S. President Donald Trump successfully forces a change of government in the oil-rich country, as the U.S. is seeking to bolster its alliance with the cartel even as it expands its own sphere of influence. The U.S. has recently been increasing pressure on Venezuelan …
Trump Won’t Turn Venezuela’s OPEC Membership into a Battleground Read More »
By Souhail Karam Illustration of Nador West Med port in Morocco. Source: Marsa Maroc Morocco is getting closer to creating an almost $1 billion liquefied natural gas hub at a new deep-sea port on its Mediterranean coast, as it plans to boost imports to curb the use of dirtier fuels. The nation this week issued …
Morocco Gets Closer to Creating $1 Billion LNG Import Hub Read More »
