Oil

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Yemen’s Houthis Say They Will Target Major US Oil Exporters in Nearby Seas

Conventional Energy, Latest, Oil, US News / By

Yemen’s Houthis will target U.S. oil majors including Exxon Mobil and Chevron despite an earlier truce agreed with President Donald Trump’s administration to not attack U.S.-linked ships sailing in the Red Sea and the wider Gulf of Aden, the Iran-backed militia said on Tuesday. The Sanaa-based Humanitarian Operations Coordination Center (HOCC), which liaises between Houthi forces and …

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US Crude Oil Output Hit Fresh Monthly Record in July, EIA Says

Conventional Energy, Latest, Oil, US News / By

U.S. crude oil production rose to a fresh monthly high of 13.64 million barrels per day in July, up 109,000 bpd from the previous record in June, data from the Energy Information Administration showed on Tuesday. Oil output from top-producing state Texas rose to 5.8 million bpd in July, the highest since October 2024, while …

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Glencore’s Top Oil and Gas Trader Becomes Latest Senior Exit

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

By Thomas Biesheuvel The Glencore Plc headquarters in Zug, Switzerland. Photographer: Jose Cendon/Bloomberg The head of Glencore Plc’s oil and gas trading team is planning to leave the company, becoming the latest high profile departure from one of the world’s biggest commodity traders. Alex Sanna, who has been at the company for almost 20 years, …

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OPEC+ to Consider Bigger Increase to Oil Output, Sources Say

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

(Reuters) – OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said two sources familiar with the talks. OPEC+ has reversed its earlier strategy of output cuts and …

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Oil Price Outlook Steady as Rising Supply Offset by Concerns Over Russian Output

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

Summary Geopolitical risks unlikely to cause sustained price rally OPEC+ and non-OPEC+ production growth seen deepening supply glut For table of crude price forecasts, click (Reuters) – Oil prices are expected to hold almost steady this year despite mounting supply from both OPEC+ and non-OPEC producers, with concerns about a potential glut tempered by uncertainty …

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Total Sees Limited Oil Supply Growth Outside OPEC+ After 2026

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

By Alex Longley TotalEnergies SE said it sees limited growth in oil production outside the OPEC+ alliance after next year, while global consumption will continue to climb to the end of the decade. Global spare output capacity is set to shrink from 2027 as lower oil prices curb investments, the French energy giant said in …

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OPEC+ Plans Another Oil Output Hike in November, Sources Say

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

Summary Increase to amount to at least 137,000 bpd, sources say Ukrainian drones attacks cut Russian oil refining, exports Oil trades at multi-week high above $70 a barrel (Reuters) – OPEC+ will likely approve another oil production increase of at least 137,000 barrels per day at its meeting next Sunday, as rising oil prices encourage …

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Oil Prices Slip as Kurdistan Resumes Crude Exports, OPEC+ Plans Output Hike

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

Summary Kurdistan crude flows to Turkey resumes after 2-1/2 year halt OPEC+ plans another oil output hike in November, sources say Russia pounds Ukraine in mass drone and missile attack (Reuters) – Oil prices dropped on Monday after Iraq’s Kurdistan region resumed crude oil exports via Turkey over the weekend, coupled with OPEC+ plans for …

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Total Pressured on Payouts, Green Strategy After Debts Double

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

Takeaways by Bloomberg AI TotalEnergies SE is under pressure to show it can sustain payouts and deliver returns from its push into low-carbon energy as debt climbs and shares lag behind peers. The company has cut its quarterly stock repurchase program to $1.5 billion from $2 billion and warned it could fall as low as $750 …

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Why the Iraq-Turkey Oil Pipeline Was Halted for 2-1/2 Years

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

Crude oil flows from Iraq’s northern Kurdistan region to Turkey resumed on Saturday for the first time in two and a half years. Here are details about the dispute that halted the piped supply of some 450,000 barrels per day (bpd) in March 2023: WHAT PROMPTED THE SHUTDOWN? Turkey shut the pipeline following an International …

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