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Goldman Sachs raised its summer 2024 Brent peak forecast by $2 a barrel to $87 as disruptions in the Red Sea contribute to modestly larger-than-expected draws in OECD commercial stocks, the bank said in a note dated Sunday. “OECD commercial stocks on land have drawn somewhat faster than expected as the redirection of flows away …
Goldman Sachs Lifts its Brent Summer Peak Forecast to $87 a Barrel Read More »
As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash. Most trading houses, which are privately owned and controlled by their employees, disclose little about their cash position, equity or dividends. But according to more …
Summary Fed governor sees ‘no rush’ to cut interest rates Gaza ceasefire talks underway in Paris US oil rig count up six in biggest weekly hike since November (Reuters) – Oil prices fell nearly 3% lower on Friday and posted a weekly decline after a U.S. central bank policymaker indicated interest rate cuts could be …
Oil Ends Lower, Posts Weekly Decline as U.S. Rate Cut Hopes Dim Read More »
Summary Fed governor sees ‘no rush’ to cut interest rates Gaza ceasefire talks underway in Paris US oil rig count up six in biggest weekly hike since November (Reuters) – Oil prices fell nearly 3% lower on Friday and posted a weekly decline after a U.S. central bank policymaker indicated interest rate cuts could be …
Oil Ends Lower, Posts Weekly Decline as U.S. Rate Cut Hopes Dim Read More »
U.S. energy giant ExxonMobil Corp is weighing offers for its oil and gas assets in Argentina’s Vaca Muerta shale region, a source familiar with the plan said on Friday, adding there was no time frame for a decision and the sale may not move forward. The comments come after Bloomberg earlier reported that ExxonMobil was …
ExxonMobil Weighs Offers for Argentina Shale Assets – Source Read More »
Bloomberg News Canada’s oil producers are poised to pour about half a million barrels of new daily output — more than the total production of some Organization of Petroleum Exporting Countries (OPEC) members — into world markets over the next year or sp. And while the deluge of new crude will be a boon to …
Canada’s Oil Boom Threatens to Bring Back Pipeline Shortages Read More »
Bloomberg News Canada’s oil producers are poised to pour about half a million barrels of new daily output — more than the total production of some Organization of Petroleum Exporting Countries (OPEC) members — into world markets over the next year or sp. And while the deluge of new crude will be a boon to …
Canada’s Oil Boom Threatens to Bring Back Pipeline Shortages Read More »
(Reuters) – Oil prices were down on Friday and on track to end a two-week winning streak after the U.S. central bank indicated interest rate cuts could be delayed by at least two more months. Brent crude futures were down 94 cents, or 1.1%, at $83.73 a barrel at 1015 GMT on Friday, while U.S. …
Oil Set to End Two Week Winning Streak After Fed Says in No Rush to Cut U.S. Rates Read More »
Canada’s economy has stagnated, with a “mild to moderate” recession expected this year. Alberta can help Canada through this economic growth crisis by reaping the benefits of a strong commodity market. But for this to happen, the federal and provincial governments must eliminate damaging policies that make Alberta a less attractive place to invest. Every year, …
Suncor Energy, Canada’s second-largest oil producer, will focus this year on cutting operating costs in its oil sands mining business, CEO Rich Kruger said on Thursday, as the company continues efforts to fix long-running underperformance. Calgary-based Suncor is trying to improve safety and efficiency after a string of fatalities at oil sands sites in recent …
Canada’s Suncor Looks to Cut High Oil Sands Mine Operating Costs Read More »
