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Canada Awaits Private Sector Move on Pacific Crude Pipeline, Minister Says

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

By Amanda Stephenson Hodgson emphasizes private sector’s role in pipeline decision-making Pathways Alliance project crucial for pipeline approval Canada aims to diversify oil exports beyond U.S. reliance CALGARY, July 4 (Reuters) – Canada’s federal government has not been presented with any private sector proposal to build a new crude pipeline to the Pacific coast, the …

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Oil Falls Slightly Ahead of Expected OPEC+ Output Increase

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

By Amanda Stephenson OPEC+ expected to boost output in August Iran reaffirms commitment to nuclear nonproliferation treaty US tariff risks resurface as July 9 deadline looms CALGARY, July 4 (Reuters) – Oil futures slipped slightly in thin holiday trading on Friday, as the market looked ahead to this weekend’s OPEC+ meeting and the likelihood that …

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OPEC+ Set to Make Another Accelerated Oil Output Hike on Saturday, Sources Say

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

(Reuters) – Eight OPEC+ countries are likely to make another accelerated oil output increase for August at a meeting on Saturday, sources from the producer group told Reuters, as they seek to regain market share. The group, which includes Saudi Arabia, Russia, the UAE, Kuwait, Oman, Iraq, Kazakhstan and Algeria, is expected to agree to …

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Saudi Aramco Considers Power Assets Sale to Raise Billions, Sources Say

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(Reuters) – Saudi oil giant Aramco is looking to sell up to five gas-fired power plants, three sources with knowledge of the matter told Reuters, part of a broader effort to free up funds that could generate tens of billions of dollars. The potential sale of four or five gas-fired plants that power refineries could …

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Oil Falls as Iran Affirms Commitment to Nuclear Treaty

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Summary Iran reaffirms commitment to nuclear non-proliferation treaty OPEC+ to announce August output hike on Sunday US tariff risks resurface as July 9 deadline looms (Reuters) – Oil futures fell slightly on Friday after Iran reaffirmed its commitment to nuclear non-proliferation, while major producers from the OPEC+ group are set to agree to raise their …

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Barclays Raises Brent Forecast to $72 Per Barrel for 2025

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Barclays on Thursday said it raised its Brent oil price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 a barrel for 2026 on an improved outlook for demand. “Geopolitical tensions have eased as the U.S​.-​mediated ceasefire between Israel and Iran continues to hold and the risk premium has evaporated, …

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Arbitrators in Exxon, Hess Dispute Over Chevron Deal Have Reached a Decision, Sources Say

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

The arbitrators in a legal dispute between Exxon Mobil and Hess have reached a decision related to a major oilfield project in Guyana, according to two sources familiar with the matter. The ruling will determine whether Chevron can move forward with its $53 billion planned acquisition of Hess. The Paris-based International Chamber of Commerce, which is overseeing …

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Oil Prices Ease on US Tariff Uncertainty Ahead of Expected OPEC+ Output Boost

Conventional Energy, Latest, Oil, US News / By

By Nicole Jao Pause on US tariffs set to end on July 9 OPEC+ expected to raise output by 411,000 bpd US crude inventories rise unexpectedly NEW YORK, July 3 (Reuters) – Oil prices fell slightly on Thursday as the possibility of U.S. tariffs being reinstated raised questions about demand ahead of an expected supply …

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OPEC+ Discusses 411,000-Barrel Hike in August, Delegates Say

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By Salma El Wardany, Grant Smith, and Fiona MacDonald OPEC+ has begun discussing another 411,000 barrel-a-day production increase for August ahead of the group’s video-conference this weekend, according to delegates who asked not to be identified. Saudi Arabia and its partners have previously approved hikes of the same size for May, June and July as …

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US Drillers Cut Oil and Gas Rigs for 10th Week in a Row, Baker Hughes Says

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

(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th week in a row for the first time since July 2020, energy services firm Baker Hughes said in its closely followed report on Thursday. The oil and gas rig count, an early indicator of future …

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