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Summary Blinken arrives in Israel in US push for peace Worries over slowing Chinese demand growth weigh on prices Firm dollar adds to the pressure (Reuters) – Oil prices steadied near $74 a barrel on Tuesday as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East and as slowing …
Oil Prices Steady on Mideast Ceasefire Push, China Demand Weighs Read More »
Summary Refiners may need to mix lighter WTI Midland with heavier crude Alternatively, refiners could convert units, requiring large investments Dated Brent benchmark may weaken up to 50 cents per barrel (Reuters) – Companies drilling for the crude that turned the U.S. into the world’s top oil producer face an unexpected dilemma: their West Texas …
As U.S. Permian Crude Turns Lighter, It Risks Losing Favor with Refiners Read More »
Summary Court gets an earful from firms opposing proposed bid Heated opposition to negotiating exclusivity, breakup fee offer Final recommendation on sale could be stalled until January HOUSTON, Oct 21 (Reuters) – Key terms of a proposed court agreement with a U.S. hedge fund seeking to gain control of oil refiner Citgo Petroleum from Venezuela …
Citgo Auction Creditors Assail Elliott Bid, Seek Rival Offers Read More »
CALGARY — Nearly six months after its opening, the Trans Mountain pipeline expansion is boosting Canada’s energy sector as promised — but questions still linger about who will pay for the project’s massive cost overruns. By a variety of measures, the expensive and contentious pipeline project is bearing fruit as more Canadian oil reaches the …
(Reuters) – Oil prices rose on Monday, recouping some of last week’s more than 7% decline on worries about demand in China, the world’s top oil importer, and easing concerns about potential supply disruptions in the Middle East. Brent crude futures were up $1.16, or 1.6%, to $74.22 a barrel at 1036 GMT. U.S. West …
Oil Prices Regain Some Ground After 7% Loss Last Week Read More »
Summary Saudi Aramco: World may still need over 100 mln bpd oil in 2050 Oil demand outlook solid despite energy transition goals Saudi Aramco: Asia needs greater say in transition policies (Reuters) – Progress in the energy transition in Asia is far slower, much less equitable and more complicated than many have expected, the head …
Saudi Aramco CEO Calls for Reset in Energy Transition Policies for Developing Nations Read More »
Crude prices have fallen even as US announces more sanctions Yellen says latest steps could be ‘prelude’ to more action A week ago, the US government imposed yet more sanctions on Iran’s oil trade. Crude prices have sagged more than $5 a barrel since. The decline was largely driven by indications that Israel is going to avoid …
Oil Prices Show How Numb Traders Have Become to U.S. Sanctions Read More »
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fourth time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 585 in the week …
U.S. Drillers Cut Oil and Gas Rigs for Fourth Time in Five Weeks – Baker Hughes Read More »
Company expects to beat goal of $3 billion in investor returns Schlumberger is often a bellwether for oil and gas industry SLB headquarters in Houston.Photographer: Mark Felix/Bloomberg SLB, the world’s biggest oilfield services provider, warned that spending growth by oil explorers has waned in the past few months as customers take a cautious approach amid …
SLB Warns Cautious Oil Explorers Have Slowed Growth in Spending Read More »
(Reuters) – U.S. crude oil, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories fell by 2.2 million barrels to 420.6 million barrels in the week ended Oct. 11, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.8 million-barrel rise. Crude stocks at …
