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At first glance the decision by OPEC+ to leave oil output levels unchanged for the first quarter of next year could be viewed as confirmation the exporter group is concerned about a looming crude supply glut. It was widely expected that the eight members of OPEC+ undertaking voluntary oil output cuts would stick to their …
OPEC+ Sticks to its ‘All is Fine in Oil’ Mantra, But Uncertainty Rises: Russell Read More »
Russia’s foreign ministry said on Sunday that Ukrainian attacks on oil tankers and Caspian Pipeline Consortium (CPC) infrastructure in the Black Sea were “acts of terrorism” that threaten freedom of navigation in the region. The CPC, which includes Russian, Kazakh and U.S. shareholders, said it had halted operations after a mooring at its Russian terminal …
Russia Calls Ukrainian Strikes on CPC and Tankers ‘Acts of Terrorism’ Read More »
OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings on Sunday as the group slows down its push to regain market share amid fears of a looming supply glut. The meeting of OPEC+, which pumps half of the world’s oil, comes during a fresh U.S. effort to …
OPEC+ Holds Oil Output Steady, Agrees Capacity Mechanism Read More »
Summary CME system resumes trading after outage Brent, WTI in longest monthly losing streaks since 2023 US crude production hit monthly high in September, EIA says (Reuters) – Crude futures fell marginally on Friday as investors considered oil’s geopolitical risk premium amid drawn-out Russia-Ukraine peace talks, while keeping an eye on Sunday’s OPEC+ meeting for …
Oil Falls on Drawn-Out Ukraine Peace Talks, All Eyes on Upcoming OPEC+ Meeting Read More »
By Rachel Aiello Prime Minister Mark Carney and Alberta Premier Danielle Smith have signed a major new energy co-operation agreement outlining the emission and other climate conditions that need to be met in order for the federal government to provide a “clear and efficient” process to approve a new oil pipeline to the Pacific under …
(Reuters) – Russia’s Urals oil price discount to global benchmark Brent widened by six percentage points this month to 23%, Russian central bank said on Thursday it its review. The discounts, though less severe than those seen after the initial wave of Western sanctions in 2022, reflect mounting pressure on Russian oil revenues – a …
Russia’s Urals Oil Price Discount Widens to 23% in November, Central Bank Says Read More »
(Reuters) – The European Union, Britain and the U.S. have imposed a raft of sanctions against Russia over its war in Ukraine. In October, the U.S. targeted Russia’s two top oil producers, Rosneft and Lukoil. Below is a timeline of key Western sanctions imposed since August 2024: 2024: August 23 – The U.S. imposed sanctions …
Summary Markets pricing in possibility of Russia-Ukraine peace plan Thin trade likely due to US holiday OPEC+ set to keep output unchaned at Sunday meet, sources say (Reuters) – Oil prices steadied on Thursday as market participants weighed talks to end the war in Ukraine against the impact of Western sanctions against Russian supply, though …
Oil Steadies as Investors Await Peace Talk Direction Read More »
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in four weeks, with oil rigs dropping to a four-year low, energy services firm Baker Hughes said in its closely followed report on Wednesday. The oil and gas rig count, an early indicator of …
US Drillers Cut Oil Rigs to Lowest in Four Years, Baker Hughes Says Read More »
(Reuters) – Britain will allow some new oil and gas production on or near existing fields, the government said on Wednesday, easing its stance on new licences while dashing oil and gas producers’ hopes for an early end to windfall taxes on their sector. From an output of around 4.4 million barrels of oil equivalent …
Britain Eases Opposition to New Oil, Gas Permits, Holds Firm on Taxes Read More »
