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US Crude and Distillate Inventories Rise, Gasoline Inventories Fall, EIA says

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

U.S. crude and distillate inventories rose while gasoline stockpiles fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3 million barrels to 426.7 million barrels in the week ended August 8, the EIA said, compared with analysts’ expectations in a Reuters poll for a 275,000-barrel draw. Crude stocks at the …

US Crude and Distillate Inventories Rise, Gasoline Inventories Fall, EIA says Read More »

Crude Oil flows on Enterprise’s Texas Seaway Pipeline Fall, Leak Reported

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines, US News / By

Crude oil flows on the Seaway pipeline in Texas fell on Wednesday, four sources said, as the pipeline’s operator reported a leak on the system to state regulators. The 950,000-barrel-per-day Seaway pipeline runs between Cushing, Oklahoma, and the Freeport, Texas, area and connects to the Enterprise Crude Houston (ECHO) terminal, a storage facility in southeast …

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World Oil Market Looks More ‘Bloated’ After OPEC+ Hike, IEA Says

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

Summary IEA expects global supply to rise by 2.5 million bpd in 2025 Trims forecast for demand growth this year to 680,000 bpd Global crude refining runs will approach record high in August Implied surplus to approach 3 million bpd in 2026 (Reuters) – World oil supply will rise more rapidly than expected this year …

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Trinidad Awards Deepwater Blocks to Exxon, Could See $21.7 Billion Investment, Minister Says

Conventional Energy, Latest, Offshore, Oil, US News / By

Exxon Mobil could invest as much as $21.7 billion in Trinidad and Tobago if the U.S. energy major finds reserves in a large deepwater area it was awarded on Tuesday to explore for oil and gas in the Caribbean country, Energy Minister Roodal Moonilal said. Moonilal was speaking at an event in Port of Spain …

Trinidad Awards Deepwater Blocks to Exxon, Could See $21.7 Billion Investment, Minister Says Read More »

Chevron-Chartered Tanker Docks at Venezuela to Load Oil After New US License

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A Chevron-chartered tanker docked at Venezuelan state company PDVSA’s Jose terminal on Tuesday, positioning it to be the first to export crude to the United States under a new license Chevron received in July, LSEG tracking data showed. The U.S. Treasury Department late last month authorized Chevron to operate in the sanctioned OPEC nation again, …

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Texas Businessmen Indicted for Allegedly Bribing Officials at Mexico’s Pemex

Conventional Energy, Latest, Oil, US News / By

Two Texas businessmen were indicted for allegedly bribing officials at Mexico’s state energy company Pemex with $150,000 and luxury items to secure contracts, the U.S. Justice Department announced on Monday. Between 2019 and 2021, Ramon Rovirosa and Mario Avila, both Mexican citizens and U.S. lawful permanent residents, conspired to pay bribes to officials at Pemex …

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OPEC Lifts 2026 Oil Demand View and Trims Supply Growth From Rivals

Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

(Reuters) – OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization …

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Oil Steadies as US, China Announce Tariff Extension

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

Summary U.S., China extend tariff pause to November Eyes on U.S. inflation data due later on Tuesday Trump-Putin talks on Friday cloud oil outlook (Reuters) – Oil prices were broadly steady on Tuesday as the United States and China extended a pause on higher tariffs, easing concerns an escalation of their trade war would hit …

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The Crude Oil Market Bets Trump’s India Threats are Hollow: Russell

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

The crude oil market’s rather sanguine reaction to the U.S. threats to India over its continued purchases of Russian oil is effectively a bet that very little will actually happen. President Donald Trump cited India’s imports of Russian crude when imposing an additional 25% tariff on imports from India on August 6, which is due …

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Norway Prepares First Major Oil, Gas Licensing Round in Years

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(Reuters) – Norway’s energy minister said on Friday he is preparing to launch a new oil and gas licensing round on the Norwegian continental shelf, the first offer of new drilling permits in unexplored frontier regions since 2021. “Norway will be a long-term supplier of oil and gas to Europe, while the Norwegian continental shelf …

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