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By Anushree Ashish Mukherjee Brent projected to average $67.84 per barrel in 2025 WTI to average $64.61 per barrel in 2025 July 31 (Reuters) – Analysts are keeping their oil price forecasts mostly unchanged for 2025, as a rise in OPEC+ output and ongoing U.S. tariff uncertainty weigh on the market, a Reuters poll showed …
Tariff Uncertainty and Rising OPEC+ Supply Weigh on Oil Prices: Reuters Poll Read More »
By Shadia Nasralla Oil price in second quarter dropped on OPEC+ output hikes Quarterly profit of $4.26 bln beats analyst poll of $3.74 bln Keeps pace of share buybacks at $3.5 bln for quarter Company shares climb around 2% LONDON, July 31 (Reuters) – Shell’s (SHEL.L) second-quarter net profit tumbled by almost a third on …
Shell Profit Drops by Almost a Third on Lower Prices, But Beats Expectations Read More »
(Reuters) – Asia is expected to step up imports of U.S. West Texas Intermediate crude in the fourth quarter after Middle East oil prices strengthened and opened the arbitrage window, trade sources said. Middle East crude benchmarks Dubai and Murban gained this month on the back of robust demand for high-sulphur oil in Asia, narrowing …
Asia Steps Up US WTI Oil Imports as Middle East Prices Rise, Sources Say Read More »
Summary New license to allow Chevron to make decisions, contribute to procurement and payments No money from oil proceeds can be transferred to Maduro’s gvmt Chevron had reduced operations, ordered tanker fleet to sail away HOUSTON, July 30 (Reuters) – Chevron has been granted a restricted U.S. license to operate in sanctioned Venezuela, three sources close …
Chevron Granted Restricted US License to Operate in Venezuela Read More »
By Marta Nogueira RIO DE JANEIRO, July 30 (Reuters) – Energy companies operating in Brazil are expected to resume oil shipments to the United States after several oil products were exempted from U.S. tariffs, the head of Brazilian oil lobby group IBP told Reuters on Wednesday. Oil is Brazil’s top export to the U.S. and …
Oil Shipments From Brazil to US to Resume After Tariff Exemption, Says Lobby Group Read More »
July 30 (Reuters) – Italian steel pipe maker Tenaris (TENR.MI) on Wednesday posted a 7% drop in net sales for the second quarter of 2025, hurt by lower shipments to Brazil and Europe. Net sales for the second quarter fell to $3.09 billion from $3.32 billion a year ago, with sales volumes dipping 5% in …
Tenaris’ Quarterly Net Sales Fall 7% on Brazil, Europe Weakness Read More »
By Amanda Stephenson Open season to assess shipper interest in capacity growth Drag-reducing agents could boost delivery by 5-10% Potential projects may increase export capacity by 200,000-300,000 bpd CALGARY, July 30 (Reuters) – The operator of Canada’s Trans Mountain oil pipeline may launch a process this year to formally gauge commercial interest in the first …
Canada’s Trans Mountain Eyes Open Season Later This Year for Pipeline Capacity Growth Read More »
Russian markets reacted cautiously to U.S. President Donald Trump’s threat to impose new sanctions, with analysts saying on Wednesday a weaker rouble and higher oil prices as a result of his measures may support the economy in the short term. Trump said on Tuesday the United States would start imposing tariffs and other measures on …
Weak Rouble, Higher Oil May Help Russia if Trump’s Tariffs Hit, Analysts Say Read More »
Summary First major LNG export facility in Canada faces startup challenges Western Canadian gas prices remain low despite LNG Canada startup LNG Canada expects export pace to increase after initial break-in period (Reuters) – Shell-led LNG Canada is experiencing technical problems as it ramps up production at its liquefied natural gas plant at Kitimat, with one …
Shell-Led LNG Canada Faces Problems as it Ramps up Production, Sources Say Read More »
By Ana Isabel Martinez MEXICO CITY, July 29 (Reuters) – Mexican state company Pemex exported 39% less crude oil year-over-year in June, reaching the lowest level in decades, official data showed, as processing at local refineries and fuel production increased significantly. It exported 458,103 barrels per day (bpd) in June, compared to 753,539 bpd in …
Mexico Exports 39% Less Crude Oil in June, Lowest Level in Decades Read More »
