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Russia Calls Ukrainian Strikes on CPC and Tankers ‘Acts of Terrorism’

CDN and International News, Conventional Energy, Latest, Oil / By

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 …

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OPEC+ Holds Oil Output Steady, Agrees Capacity Mechanism

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

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 …

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CPC Says Oil Exports Halted, Equipment Heavily Damaged by Drones

CDN and International News, Latest, Oil / By

The Caspian Pipeline Consortium (CPC), which handles more than 1% of global oil, said on Saturday it halted operations after a mooring at its Black sea terminal was significantly damaged by a Ukrainian naval drones attack. “Further operation of mooring point 2 is not possible,” it said in a statement about one of three key …

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Oil Falls on Drawn-Out Ukraine Peace Talks, All Eyes on Upcoming OPEC+ Meeting  

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

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 …

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Swelling Supply to Keep Oil Prices Under Strain in 2026

Latest, Oil, US News / By

Oil prices are projected to remain under pressure in 2026, as swelling supplies eclipse modest demand growth, while geopolitical risks could cap deeper losses, a Reuters poll showed on Friday. The survey of 35 economists and analysts forecast that Brent crude would average $62.23 per barrel in 2026, down from October’s forecast of $63.15. The …

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Carney Signs Major Energy Agreement With Alberta, Laying Out Conditions For New Oil Pipeline

CDN and International News, Conventional Energy, Latest, Oil / By

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 …

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Russia’s Urals Oil Price Discount Widens to 23% in November, Central Bank Says

CDN and International News, Conventional Energy, Latest, Oil / By

(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 »

Western Sanctions on Russia, Iran Energy Trade

CDN and International News, Conventional Energy, Latest, Oil / By

(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 …

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Oil Steadies as Investors Await Peace Talk Direction

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

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 …

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US Drillers Cut Oil Rigs to Lowest in Four Years, Baker Hughes Says

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(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 …

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