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Summary Israel and Hezbollah close to ceasefire deal OPEC+ could leave output cuts in place from Jan. 1 Trump says he will impose 25% tariff on Canadian, Mexican goods President-elect plans to increase U.S. oil drilling (Reuters) – Oil prices rose on Tuesday after falling more than $2 a barrel in the previous session as …
Oil Rises After Selloff on Possible Middle East Ceasefire Read More »
U.S. oil and gas producers are unlikely to radically increase production under president-elect Donald Trump as companies remain focused on capital discipline, a senior executive at Exxon Mobil said on Tuesday. “We’re not going to see anybody in ‘drill, baby, drill’ mode,” Liam Mallon, head of Exxon’s upstream division, told the Energy Intelligence Forum conference in …
(Reuters) – BP Chief Executive Murray Auchincloss said that global oil demand continued to surprise to the upside, speaking at the Energy Intelligence forum in London on Monday. He said oil demand kept rising on average by more or less 1% each year, depending on economic circumstances. BP expected robust oil consumption for the next …
BP CEO Auchincloss Says Oil Demand Keeps Surprising Us to the Upside Read More »
(Reuters) – The association that represents the interests of some of the most important oil service providers in Mexico asked state company Pemex to pay overdue debts totaling 103.6 billion pesos ($5.1 billion), a letter made public on Monday shows. In the letter dated Nov. 15 and addressed to the country’s energy and finance ministers …
Mexican Oil Service Providers Ask Pemex to Pay Down Debt Read More »
(Reuters) – Oil prices fell more than 2% on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict, citing unnamed senior U.S. officials. Brent crude futures were down 2.45%, or $1.84, at $73.34 a barrel by 11:17 a.m. CST (1717 GMT), while U.S. …
Oil Falls More Than 2% on Possible Middle East Peace Deal Read More »
The North Dakota governor would have an unusually broad portfolio as Trump’s energy czar and Interior Secretary. By Patricia Lopez Patricia Lopez is a Bloomberg Opinion columnist covering politics and policy. She is a former member of the editorial board at the Minneapolis Star Tribune, where she also worked as a senior political editor and …
Trump’s Energy Czar Burgum Is a Powerful Cabinet Pick – If Trump Stays Happy Read More »
Bloomberg News Suncor Energy Inc.’s crude output from wells in Alberta rose to a record in October on gains at the Firebag oilsands site, which the producer’s chief executive has called a “rock star” operation. Suncor’s wells in the province produced about 284,000 barrels a day last month, the most in data stretching back to 2018 and …
Suncor’s CEO Lauds ‘Rock Star’ Firebag Oilsands Site Read More »
Summary Russia will keep testing hypersonic missile in combat US imposes new sanctions on Moscow China crude oil imports set to rebound in November Nov 22 (Reuters) – Oil prices climbed about 1% on Friday, settling at a two-week high, as the intensifying war in Ukraine this week boosted the market’s geopolitical risk premium. Brent …
Oil Prices Settle up 1% (6% for the Week) at 2-Week High as Ukraine War Intensifies Read More »
(Reuters) – J.P. Morgan sees the price of Brent oil averaging $73 per barrel (/bbl) in 2025 and expects it to close the year firmly below $70/bbl, with U.S. West Texas Intermediate at $64/bbl, the bank said in a note on Friday. “Our view on 2025 has remained largely unchanged over the past year: we …
J.P. Morgan Sees Brent Oil Price Averaging $73 a Barrel in 2025 Read More »
(Reuters) – Goldman Sachs expects Brent prices to average around $80 per barrel this year, despite a 2024 deficit and geopolitical uncertainty, citing an anticipated 0.4 mb/d surplus next year, the bank said in a note on Thursday. “Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price …
Goldman Sachs Expects Oil Prices to Average Around $80/bbl in 2024 Read More »
