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U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess’s Guyana assets. Exxon on Wednesday filed a contract arbitration claim related to Hess’ proposed sale of its Guyana oil properties and suggested it may counter Chevron’s pending …
Hess Says Reviewing Timeline for Closing of Chevron Deal Read More »
CALGARY — TC Energy Corp. has cut an unspecified number of jobs, primarily in Calgary and Houston, the pipeline company confirmed Wednesday. A company spokesperson said in an emailed statement the layoffs relate to TC Energy’s previously announced plans to integrate its Canada, U.S. and Mexico natural gas pipelines business units. The new job cuts …
TC Energy Confirms Latest Round of Job Cuts; Unspecified Number of Employees Affected Read More »
Summary Delayed rate cut expected, likely to buoy dollar China Jan-Feb crude imports rise U.S. crude stocks rose as gasoline, distillate stocks drop LONDON, March 7 (Reuters) – Oil prices slipped on Thursday as expectations that U.S. interest rate cuts could be delayed capped gains, though upbeat Chinese trade data augured well for demand in …
Oil Prices Slip on View U.S. Rate Cuts Could be Delayed Read More »
U.S. crude oil stockpiles last week rose less than expected as refining rates picked up sharply, data from Energy Information Administration (EIA) showed on Wednesday. Crude inventories rose for a sixth week in a row, building by 1.4 million barrels to 448.5 million barrels in the week ended March 1, the EIA said. Analysts had …
U.S. Crude Stocks Rise More than Forecast as Refining Ramps Up – EIA Read More »
Summary China 5% growth target lacks concrete stimulus plans Investors on alert for U.S. rate cut signals Some oil supply tightness with OPEC+ cut extension LONDON, March 6 (Reuters) – Oil prices rebounded slightly on Wednesday after four days of declines as signs of supply tightness amid output cuts by major producers overrode demand concerns …
Oil Up as OPEC+ Cuts Override China, US Demand Concerns Read More »
A possible re-imposition of U.S. oil sanctions on Venezuela next month would stagnate the OPEC-member country’s crude output, wiping out the small gains it has achieved in recent years, analysts said on Tuesday. Washington has said it will allow to expire a temporary license it granted last year to Venezuela as part of negotiations for …
Return of U.S. Oil Sanctions Would Clip Venezuela’s Output Gains Read More »
Producers may need to stick with output curbs for the entire year, and the cooperation of all is far from guaranteed. OPEC+ may have put a floor under crude prices by extending oil supply cuts for another quarter, but the group will soon face a more grueling test. Saudi Arabia and its partners agreed Sunday to keep …
OPEC+ Will Soon Confront a Tougher Oil-Market Test Read More »
(Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, and lawmakers have introduced dozens of bills …
U.S. Funding Bill Blocks China From Buying Oil From Strategic Petroleum Reserve Read More »
Summary OPEC+ extend 2.2 mln bpd voluntary oil output cuts through Q2 Russia to cut oil output and exports by another 417,000 bpd Brent spreads widen after OPEC+ announcement LONDON, March 4 (Reuters) – Oil prices were little changed on Monday following the widely expected extension of voluntary output cuts through the middle of the …
Oil Steadies After OPEC+ Extends Output Cuts as Expected Read More »
Summary OPEC+ producers to continue cuts of 2.2 million bpd Russia to deepen oil output cuts, ease export limits Oil seen opening stronger when trading resumes – PVM DUBAI, March 3 (Reuters) – OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per …
OPEC+ Members Extend Oil Output Cuts to Second Quarter Read More »
