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By Scott Disavino April 11 (Reuters) – U.S. energy firms this week cut oil rigs by the most in a week since June 2023, lowering the total oil and natural gas rig count for a third consecutive week, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and …
US Oil Rig Count Falls by Most in a Week Since June 2023, Baker Hughes Says Read More »
(Reuters) – At least two vessels carrying Venezuelan crude chartered by Chevron are now stalled in Venezuelan waters due to state oil company PDVSA canceling their export authorizations after the U.S. imposed secondary tariffs on the OPEC member’s buyers, two sources with knowledge of the matter said on Friday. The U.S. oil producer awaits customs …
Chevron’s Venezuelan Oil Cargoes Stalled at Sea After Export Cancellations Read More »
The pain, said Shuntaro Takeuchi, was 10 out of 10. Not in the portfolio of Japanese stocks he runs out of Palo Alto, California, but in his appendix. It would have to come out, just as his colleagues at Matthews Asia were on a phone call to chart the $7 billion asset manager’s path through …
Summary • Brazil plans extra auction for offshore oil areas • Kuwait to tap international debt market for first time since 2017 • Russia’s economy expected to contract further from oil price decline • Saudi Arabia stands ready for policies to keep fiscal position strong: spokesperson April 11 (Reuters) – Oil-dependent governments are coming under …
Oil Producers Seek to Shore up Finances Amid Crude Price Plunge Read More »
April 11 (Reuters) – U.S. Energy Secretary Chris Wright said on Friday that the United States could step up pressure on Iran and stop its oil exports as part of a plan to pressure Tehran over its nuclear programme. Wright, speaking to Reuters during a visit to Abu Dhabi, said he thought the Gulf allies …
US Energy Secretary Says We Can Stop Iran’s Oil Exports Read More »
Summary Oil at $55 a barrel, down from $78 before Trump inauguration US oil rig count expected to drop if crude stays below $60 Tariffs will hike costs for steel and oil-drilling gear Reuters) – President Donald Trump moved on his first day in office to increase U.S. oil and gas production, but the country’s …
OPEC Output Hikes, Trade Wars Have US Oil Producers Wary of ‘Drill Baby Drill’ Read More »
(Reuters) – The Trump administration said on Thursday that it will no longer require environmental impact statements for oil and gas leases across the U.S. West, in a step toward lifting green hurdles to drilling that environmental groups will likely challenge in court. The Interior Department said in a release that it will no longer …
US Will No Longer Require Green Analyses on Western States’ Oil, Gas Leases Read More »
(Reuters) – Recent developments in global trade policy are set to lower global oil and fuel demand growth through 2026, the U.S. Energy Information Administration (EIA) said on Thursday in its monthly short-term energy outlook report. The U.S. Department of Energy’s statistical arm cut its annual U.S. and global oil demand growth forecasts for both …
US EIA Warns of Lower Oil Demand From Tariffs and Trade Uncertainty Read More »
(Reuters) – Oil prices fell on Friday and were set to drop for a second week on concerns prolonged trade war between the United States and China, the world’s largest economies, will crush crude consumption as their dispute curtails economic growth. Brent futures fell 31 cents, 0.5%, to $63.02 a barrel by 0153 GMT, while …
Oil Prices Set to Drop for a Second Week as US-China Trade War to Cut Demand Read More »
Venezuela’s national assembly on Thursday passed a decree proposed by President Nicolas Maduro’s government to declare a state of economic emergency in response to U.S. sanctions and tariffs. In March, the administration of U.S. President Donald Trump began suspending authorizations for oil companies operating with Venezuela’s state-owned PDVSA and imposed secondary tariffs on crude oil …
Venezuela National Assembly Greenlights Economic Emergency Decree Read More »
