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(Reuters) – BP said on Monday it has made its largest oil and gas discovery in 25 years in Brazil’s Santos basin, a so-called pre-salt area in deep water offshore which is believed to be a large reservoir of oil and gas. BP returned its focus to fossil fuels last year to regain investor confidence and revive …
BP Strikes Major Oil Discovery Offshore Brazil, Its Largest in Decades Read More »
Clyde Russell (Reuters) – A couple of months ago it would have been a brave call to say that OPEC+ would be able to bring back 2.5 million barrels per day of crude production and still keep oil prices anchored around $70 a barrel. But this is exactly what has occurred, with the eight members …
OPEC+ Gets Lucky as it Brings Back Oil Output Amid Uncertainty Read More »
(Reuters) – At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new U.S. sanctions, trade sources said, and LSEG trade flows showed. The U.S. Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities, and ships, some of which are involved in transporting …
US Sanctions Force Vessels With Russian Oil to Divert From India, Sources Say Read More »
Summary Sept hike of 548,000 bpd agreed, sources say ahead of meeting Virtual meeting starts at 1100 GMT on Sunday Oil supported by US demands for India to stop buying Russian oil (Reuters) – OPEC+ has reached a preliminary deal to increase oil production by 548,000 barrels per day from September, three sources said on …
OPEC+ Agrees in Principle to Another Large Oil Output Hike, Sources Say Read More »
Indian officials have said they would keep purchasing oil from Russia despite the threat of penalties that U.S. President Donald Trump said he would impose, the New York Times reported on Saturday. Reuters could not immediately verify the report.The White House, India’s Ministry of External Affairs and the Ministry of Petroleum and Natural Gas did …
India Will Buy Russian Oil Despite Trump’s Threats, NYT Reports Read More »
By Erwin Seba Oil prices head for weekly gain US tariffs on dozens of countries take effect on August 1 Investors weigh impact from Trump threats over Russian oil HOUSTON, Aug 1 (Reuters) – Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, …
Oil Falls $2 a Barrel on Worries About OPEC+ Supply, US Jobs Data Read More »
(Reuters) – U.S. oil producer Chevron expects its exports of Venezuelan crude to the U.S. to resume this month, the company’s chief executive said on Friday, following a restricted license received this week from the U.S. Treasury Department to operate in the sanctioned country and do oil swaps. Chevron’s CEO Mike Wirth also said in …
Chevron’s Exports of Venezuelan Oil Expected to Resume This Month, CEO Says Read More »
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 540 in …
US Drillers Cut Oil and Gas Rigs for Second Week, Baker Hughes Says Read More »
(Reuters) – U.S. President Donald Trump’s demand on India to halt Russian oil imports could threaten billions in Russian revenues, prompt Moscow to retaliate by stopping a major U.S.-led oil pipeline and potentially lead to a new global supply crisis. India, the world’s third largest oil importer, has become the biggest buyer of Russian oil …
How Moscow Might Respond if Trump Stops Russian Oil to India Read More »
(Reuters) – OPEC+ will likely approve another oil output hike on Sunday, sources familiar with the discussions said, adding that the producer group was still debating the final size of the increase for September. OPEC+, which pumps about half of the world’s oil, has been curtailing production for several years to support the market. But …
OPEC+ Seen Further Raising Oil Production on Sunday, Sources Say Read More »
