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U.S. Crude Stocks Fall, Gasoline and Distillate Inventories Rise – EIA

Energy Storage, Energy Topics & Technology, Latest, US News / By

U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Thursday. Crude inventories fell by 4.2 million barrels to 454.7 million barrels in the week ending May 24, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.9 million-barrel draw. Crude stocks at …

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Trinidad Court Recognizes ConocoPhillips’ $1.3 billion Claim Against Venezuela

CDN and International News, Latest / By

U.S. oil firm ConocoPhillips won a Trinidad & Tobago court order granting it the right to enforce a $1.3 billion claim against Venezuela for past expropriations, casting a shadow over a proposed offshore natural gas venture between the two countries. Conoco has the right to enforce the order by seizing any future compensation Trinidad may …

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Oil Prices Steady as Solid U.S. Crude Demand Offsets Rate Concerns

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

Summary EIA stocks data due later Thursday US, eurozone inflation due Friday OPEC+ meets June 2 to discuss supply cuts (Reuters) – Oil prices were broadly steady as pressure from U.S. data pointing to higher-for-longer rates was offset by inventory numbers showing strong demand for crude in the United States. Ahead of U.S. crude oil …

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Saudi Aramco: The Oil Colossus

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

(Reuters) – Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco  later on Thursday, pending final approval from Crown Prince Mohammed bin Salman, people with knowledge of the matter said. The landmark sale follows Aramco’s record IPO nearly five years ago, as the kingdom pushes ahead plans to diversify its economy away from …

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