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Chinese refiners are importing record amounts of Canadian crude after slashing purchases of U.S. oil Chinese refiners are importing record amounts of Canadian crude after slashing purchases of United States oil by roughly 90 per cent amid escalating trade tensions. A pipeline expansion in Western Canada that opened less than a year ago has presented …
China Pivots From U.S. to Canada for More Oil as Trade War Worsens Read More »
By Shariq Khan Forecast shows US shale oil boom fading after 20 years US oil output to peak at 14 million bpd in 2027, EIA says Production to fall rapidly from 2030 through 2050 US oil demand to cap post-pandemic gains next year US oil demand will not surpass 2019 levels or 2005 record NEW …
US Crude Oil Output to Peak by 2027, EIA Projects Read More »
GEORGETOWN, April 15 (Reuters) – A consortium led by U.S. Exxon Mobil (XOM.N) is about to begin the installation of its fourth floating oil production facility in Guyana, the South American country’s maritime regulator said in a notice on Tuesday. The floating production storage and offloading (FPSO) facility ‘One Guyana,’ built by SBM Offshore (SBMO.AS) …
Exxon Consortium to Begin Installation of Floating Oil Facility in Guyana Read More »
HSBC revised down its Brent crude price forecast on Tuesday, citing rising trade tensions and an expected reduction in global oil demand.The bank cut its Brent price forecast to $68.5 per barrel for 2025 and $65 per barrel for 2026. It also trimmed its global demand growth to 0.7 million barrel per day (mbd) for …
HSBC Lowers Brent Price Forecasts on Trade Tensions, Sluggish Oil Demand Read More »
• Summary • Pakistan mulling U.S. crude purchases to address tariffs • Pakistan faces 29% tariffs under Trump policies • Crude purchase would reduce trade imbalance with U.S. (Reuters) – Pakistan is considering importing crude oil from the United States for the first time to offset a trade imbalance that triggered higher U.S. tariffs, according …
Pakistan Mulls US Oil Imports to Ease Trade Imbalance Read More »
(Reuters) – Indonesia will propose increasing its imports of crude oil and liquefied petroleum gas from the United States by around $10 billion as part of its tariff negotiations, energy minister Bahlil Lahadalia told local media on Tuesday. Indonesian officials are set to leave for Washington later on Tuesday for negotiations over proposed U.S. trade …
Indonesia to Propose $10 Billion US Energy Imports Increase in Tariff Talks Read More »
Summary • IEA cuts 2025 demand growth forecast by about 300,000 bpd • Sees further slowdown in demand growth next year • Joins OPEC in cutting oil demand view • Trims U.S. oil output forecast for 2025 (Reuters) – Global oil demand will grow much more slowly than expected this year and U.S. production increases …
World Oil Demand, U.S. supply to Grow More Slowly on Tariff Tensions, IEA Says Read More »
Summary • Oil price drop seen hitting exporters disproportionately • Angola faced a margin call after bond market rout • Nigeria’s carry trade stops being attractive on oil fall • Gulf exporters likely to weather pressure better thanks to reserves, lower debt (Reuters) – A steep drop in crude oil prices largely due to U.S. …
Oil Price Drop Turns up Heat on Emerging Market crude Exporters Read More »
April 14 (Reuters) – JP Morgan on Monday lowered its oil price forecasts for 2025 and next year, citing higher production from OPEC+ and weaker demand. The bank cut its 2025 Brent price forecast to $66 per barrel from $73 and its 2026 target to $58 from $61. It lowered the 2025 WTI price outlook …
JP Morgan Cuts Oil Price Forecasts on Weak Demand, Higher Output Read More »
(Reuters) – Pipeline operator South Bow said Monday it is keeping an eye on inclement weather before proceeding with a planned controlled restart of its Keystone oil pipeline system. The Calgary, Canada-based company had previously indicated it was targeting Tuesday for full service restoration on the Keystone pipeline, which has been shut down since last …
South Bow Watching Weather Before Proceeding With Keystone Pipeline Restart Read More »
