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Spot Crude Premiums Jump as US Sanctions on Russian Producers Drive China, India Demand

Conventional Energy, Latest, Oil, US News / By

(Reuters) -Spot premiums in crude markets jumped on Thursday on expectations that U.S. sanctions on top Russian producers will spur China and India’s demand for supplies from the Middle East, Africa and South America, trade sources and analysts said. Washington hit major suppliers Rosneft and Lukoil with sanctions over the Ukraine war, sparking concerns over …

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Rig Count, Frac Crew Count Rise in North Dakota, State Regulator Says

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(Reuters) – HOUSTON, OCT 24 – There are currently 28 active rigs in North Dakota, up from 27 in September, according to the state’s Department of Mineral Resources on Friday. There are currently 13 frac crews operating in the state, up from 12 in September. North Dakota is the third largest oil-producing state in the …

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Russia’s Top Indian Oil Client Reliance Says Will Abide By Western Sanctions

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

(Reuters) – Reliance Industries Ltd, the top Indian buyer of Russian oil, will abide by Western sanctions against Moscow while maintaining its relationship with current oil suppliers, its spokesperson said in a statement. Reliance, which is controlled by billionaire Mukesh Ambani and operates the world’s biggest refining complex at Jamnagar in western Gujarat state, has …

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Oil Climbs for Second Day on Supply Fears Due to US sanctions on Russian Companies

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

Summary Brent, WTI both headed for 7% weekly gain US sanctions on two Russian oil companies raise supply concerns Chinese state oil majors to suspend Russian oil purchases Indian refiners set to cut their Russian crude imports (Reuters) – Oil prices edged up on Friday, extending the previous day’s surge and on track for a …

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US Oil Production Is Booming. So Is Demand.

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

By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” The US will consume an annual average of 20.59 million barrels of oil a day in 2025, the highest in 18 years, according …

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US Reopens Alaska Wildlife Refuge to Oil and Gas Development

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

(Reuters) – The Trump administration on Thursday announced a series of steps to open up Alaskan wilderness to energy and infrastructure development, including by resuming oil and gas leasing in the remote Arctic National Wildlife Refuge. The Interior Department said in a statement that it will reopen the full 1.5-million-acre (0.6-million-hectare) Coastal Plain of the …

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OPEC Ready to Raise Oil Output if Required After US Sanctions on Russia, Kuwaiti Minister Says

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

(Reuters) – OPEC is ready to raise production by rolling back its oil output cuts further if required to address market shortfalls after the United States imposed new sanctions on Russian oil majors, Kuwait’s oil minister said on Thursday. In a sharp policy shift, U.S. President Donald Trump targeted Russia’s largest oil companies, Lukoil (LKOH.MM) …

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Oil Futures Return to Structure Signalling Tight Supply on Russia Sanctions

Conventional Energy, Latest, Oil, US News / By

(Reuters) – The prompt Brent crude futures contract on Thursday returned to trading at a premium to the six-month contract after new U.S. sanctions on Russia revived concern of a tight market in the near term, erasing earlier signs of a fear of a glut. The first-month Brent contract is now trading at near $2 …

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India Poised to Sharply Cut Russian Oil Imports After U.S. Sanctions

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Summary U.S. imposes sanctions on Russian producers Rosneft, Lukoil India is biggest buyer of seaborne Russian oil since Ukraine war Russian oil purchases a key Trump irritant in India trade talks Reliance plans to halt imports under Rosneft deal – sources (Reuters) – Indian refiners are poised to sharply curtail imports of Russian oil to …

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Trump’s Russian Oil Sanctions Gambit Will Test His Tolerance for Pain: Bousso

Conventional Energy, Latest, Oil, US News / By

U.S. President Donald Trump imposed sanctions on Russia’s two largest oil companies, marking a significant escalation in his efforts to starve Moscow of vital revenue to fund its war in Ukraine. The effectiveness of these measures – which target Russia’s Lukoil and Rosneft – will, however, hinge on Trump’s willingness to enforce secondary sanctions and …

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