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(Reuters) – HSBC expects a big oil surplus of 1.7 million barrels per day (mbd) from the fourth quarter of 2025, and a surplus of 2.4 mbd in 2026, exacerbated by the return of OPEC+ barrels over the next 12 months, it said in a note on Monday. At its meeting this month, OPEC+ opted …
HSBC Sees Downside Risk to 2026 Brent Crude Oil Price Forecast Read More »
(Reuters) – Canadian oil sands producer MEG Energy on Monday urged shareholders to reject the sweetened takeover bid from its majority stakeholder Strathcona Resources and reaffirmed support for sale to Cenovus Energy. “The revised Strathcona offer remains fundamentally unattractive,” said James McFarland, chair of MEG’s board, citing exposure to inferior assets, an overvalued Strathcona share price …
MEG Energy Urges Investors to Reject Strathcona’s Sweetened Bid, Backs Cenovus Deal Read More »
China accused the United States of “unilateral bullying” in calling on allies to impose tariffs on China over its purchase of Russian oil, fueling tensions as Chinese and U.S officials meet in Spain to try to resolve trade disputes. China opposes Washington’s request that the Group of Seven and NATO countries impose secondary tariffs on …
China Accuses US of ‘Bullying’ in Push for Tariffs Over Russian Oil Purchases Read More »
Summary Ukraine attacks more Russian energy facilities over the weekend Trump presses NATO nations to halt Russian oil purchases US-China officials in Madrid for trade talks (Reuters) – Oil prices edged higher on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose …
Oil Edges Up After Attacks on Russian Energy Facilities Read More »
U.S. President Donald Trump issued a letter to NATO nations on Saturday, urging them to stop buying Russian oil and impose major sanctions on Russia to end its war in Ukraine. “I am ready to do major sanctions on Russia when all NATO nations have agreed, and started, to do the same thing, and when …
Trump Presses NATO Nations to Halt Russian Oil Purchases Read More »
Takeaways by Bloomberg AI The Kirishi oil refinery, known as Kinef, was attacked by Ukrainian drones overnight, causing a fire that has been extinguished with no casualties. Ukraine’s Armed Forces confirmed the attack and said they are working to weaken Russia’s military and economic capabilities, with a focus on fuel, weapons, and ammunition production. A …
Drones Strike Russia’s Major Export-Oriented Oil Refinery Read More »
Summary G7 finance ministers discuss possible tariffs on countries ‘enabling’ war in Ukraine US Treasury Secretary said countries should impose tariffs on purchasers of Russian oil Bessent heads to Madrid for more talks with Chinese counterpart WASHINGTON, Sept 12 (Reuters) – Group of Seven nations’ finance ministers discussed in a call on Friday further sanctions …
US Calls on G7, EU to Impose Tariffs on China, India Over Russian Oil Purchases Read More »
By Erwin Seba Traders continue to worry over bearish US economic data Ukrainian drones strike Russia’s largest oil terminal Prices supported by Chinese buying and war risks Brent and WTI benchmarks fell sharply in previous session Sept 12 (Reuters) – Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest …
Canada’s government is in discussions with energy companies and Alberta about eliminating a federal cap on emissions from the country’s oil and gas sector if the industry and province reduce their carbon footprint in other ways, three sources with knowledge of the talks said. The sources, who were not authorized to speak publicly about the …
Canada May Drop Oil Emissions Cap as Part of New Climate Plan Read More »
The global crude oil market is facing two long-term fundamental shifts that will change how cargoes flow around the world and how they are priced. The first factor is a supply and demand issue, with the vast majority of demand growth concentrated in Asia but the supply growth largely coming from the Americas outside of …
Crude Oil to be Driven Longer-Term by Supply-Demand Mismatch, Geopolitics: Russell Read More »
