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By Alex Lawler LONDON, May 8 (Reuters) – OPEC oil output edged lower in April despite a scheduled output hike taking effect, a Reuters survey found, led by a cut in Venezuelan supply on renewed U.S. attempts to curb the flows and smaller drops in Iraq and Libya. The Organization of the Petroleum Exporting Countries …
OPEC April Oil Output Edges Lower Despite Plans for Hike, Survey Finds Read More »
By Gavin Maguire LITTLETON, Colorado, May 8 (Reuters) – Clean energy sources generated the smallest amount of Germany’s electricity in over a decade so far in 2025, dealing a blow to the energy transition momentum of Europe’s largest economy. Electricity generation from clean power sources totalled just under 80 terawatt hours (TWh) during the first …
Germany’s Energy Transition Hits Reverse so Far in 2025 Read More »
By Ron Bousso Global refining profit margins above 2024 levels Traders refilling depleted diesel inventories after cold winter Gasoline demand set to rise ahead of summer LONDON, May 8 (Reuters) – Global oil refineries’ strong profit margins signal healthy oil consumption today, a stark contrast with the grim long-term demand outlook. Sentiment in the oil …
Oil Refiners’ Robust Profits Defy Souring Outlook Read More »
By Julian Lee and Alex Longley When US President Donald Trump was inaugurated to his second term as president on Jan. 20, oil prices were close to the highs of the summer before. By early May, they had plunged by nearly a quarter. That’s for two big reasons: Trump’s trade war is driving down economic …
How Tariffs and OPEC+, Oddly Enough, Are Driving Down the Price of Oil Read More »
Summary • Crude prices supported by impending US-China talks • Brent prices could drop to $50 if US-Iran deal occurs – Citi LONDON, May 8 (Reuters) – Oil prices rose over 1% on Thursday, buoyed by hopes of a breakthrough in looming trade talks between the United States and China, the world’s two largest oil …
Oil Prices Rise on Support from US-China Trade Hopes Read More »
Recent U.S. sanctions on two small Chinese refiners for buying Iranian oil have created difficulties receiving crude and led them to sell product under other names, sources familiar with the matter said, evidence of the disruption that Washington’s stepped-up pressure is inflicting on Tehran’s biggest oil buyer. The targeting of independent refiners, known as teapots, …
US Sanctions on China Refiners Over Iran Oil Disrupt Operations Read More »
It’s been almost 25 years since BP Plc attempted to rebrand itself as “Beyond Petroleum” and adopt a more environmentally friendly image. But with a recent swing away from green energy toward its fossil fuel roots, “Back to Petroleum” might be a more appropriate tag line. The shift comes as BP lags significantly behind its …
What Went Wrong for BP? Why the Oil Major Hit Reset Read More »
If Shell acquires BP, it would create a European oil major that could challenge industry leaders Exxon Mobil Corp. and Chevron Corp., with upstream oil and gas production of nearly 5 million barrels of oil equivalent a day. Summary by Bloomberg AI The deal would give Shell dominance in LNG sales, with combined sales jumping …
BP-Shell Megadeal Would Create European Rival to Exxon Mobil Read More »
Photographer: Anthony Prieto/Bloomberg Crescent Energy Co. is looking to sell its drilling portfolio in areas including the Denver-Julesburg Basin in Colorado to focus on its core acreage in the Eagle Ford and Uinta basins. Summary by Bloomberg AI The divestment could fetch more than $1 billion, but no final decision has been made and Crescent …
KKR-Backed Crescent Energy Weighs Asset Sales to Focus on Eagle Ford, Uinta Basins Read More »
(Reuters) – The U.S. Geological Survey (USGS) released an assessment on Wednesday detailing potential undiscovered oil and gas in two formations under much of the U.S. Gulf Coast from Texas to Florida. The assessment found that there are technically recoverable resources of 35.8 trillion cubic feet of natural gas and 28 million barrels of oil …
Potential For Undiscovered Oil and Gas Resources in US Gulf Coast, Agency Says Read More »
