Auto Added by WPeMatico
By Ron Bousso OPEC+ to increase output target by 2.5 million bpd between April and September Saudi has large spare production while others produce at capacity Riyadh’s share of global oil production declined to 11% in 2024 from 13% LONDON, July 8 – Saudi Arabia’s drive to rapidly increase OPEC+ oil output may put Riyadh …
COMMENTARY: Saudi Plays Short and Long Game With OPEC+ Production Gamble – Bousso Read More »
By Scott Disavino US could produce less oil in 2025 than previously expected OPEC+ to raise production by 548,000 barrels per day in August Markets unsettled by uncertainty over Trump tariffs NEW YORK, July 8 (Reuters) – Oil prices edged up to a two-week high on Tuesday as positive U.S. economic news, lower U.S. oil …
Ever since OPEC+ stunned oil markets by opening the taps three months ago, traders have tried to divine the cartel’s motives. Clarity may soon be at hand. On Saturday, Saudi Arabia and its partners agreed to further accelerate plans for reviving crude production, despite signs of an impending oversupply in world markets. The full rationale remains opaque. …
OPEC+ Is Rushing Toward a Production Strategy Crossroads Read More »
Reuters – Exxon Mobil signaled on Monday that lower oil and gas prices could cut its second-quarter earnings by about $1.5 billion from the previous quarter’s level. The earnings snapshot from the largest U.S. oil producer is closely watched for clues on how the broader oil sector will fare when companies begin releasing quarterly results in …
Exxon Signals Lower Oil, Gas Prices Could Hit Second-Quarter Profit Read More »
Clyde Russell (Reuters) – Two questions stand out after the decision by OPEC+ to accelerate increases in crude oil output: who is going to buy the extra crude, and will the group actually export the additional barrels they say they are going to produce? OPEC+ agreed at a weekend meeting to raise production by 548,000 barrels per …
OPEC+ is Pumping More Oil, But is it Needed and at What Price? Read More »
The U.S. Interior Department on Monday proposed rule changes to allow energy companies to more easily combine oil and gas output from multiple leases using the same well pad, which could save the industry as much as $1.8 billion per year, it said. The proposed rule change, which would mostly affect onshore oil and gas …
US Proposes Rules That Could Boost Oil, Gas Output in US West Read More »
Shell Plc expects second-quarter results to be negatively impacted by a weaker performance from its oil and gas trading operation, with earnings from the division expected to be “significantly lower” quarter-on-quarter. The company’s shares declined to a four-week low following the announcement, with European peers BP Plc and TotalEnergies SE also falling. Shell’s trading update …
Shell Says Weak Oil and Gas Trade Hit Second-Quarter Profit Read More »
Summary OPEC+ to agree another 550,000 bpd hike for Sept -sources OPEC+ to complete unwinding of 2.17 mln bpd cut UAE to complete output boost in line with new quota Output jump since April set to be 2.47 mln bpd or 2.5% of global demand (Reuters) – OPEC+ oil producers are set to approve another …
OPEC+ Set to Complete Big Oil Output Cut Unwinding in Sept, Sources Say Read More »
(Reuters) – A new oil pipeline to the British Columbia coast is highly likely to be included on a list of projects deemed to be of national importance to the Canadian government, Prime Minister Mark Carney told the Calgary Herald newspaper in an interview published on Sunday. “I would think given the scale of the …
The US ambassador to Canada, Pete Hoekstra, is optimistic about trade talks between the US and Canada, believing a fair deal will emerge soon. The US and Canada have an existing trade pact, but the US has placed import taxes on Canadian products, prompting Canada to impose counter-tariffs on US-manufactured items. The two leaders have …
US Ambassador Says ‘Win-Win’ Trade Deal With Canada Is Within Reach Read More »
