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Oil Falls 1% on Demand Growth Concerns, Robust Dollar

Summary Benchmark contracts head for weekly loss of nearly 3% Sinopec sees China’s crude imports possibly peaking in 2025 Trump wants EU to buy more US oil, gas or face tariffs LONDON, Dec 20 (Reuters) – Oil prices fell on Friday on worries about demand growth in 2025, especially in top crude importer China, putting …

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Biden’s LNG Study to Stop Short of Halting New Exports

A highly anticipated study of liquefied natural gas exports by the Biden administration is expected to stop short of saying the approval of more shipments isn’t in the public interest, according to people familiar with the matter. The study, under way since January, is set to be released as soon as Tuesday, according to the people, …

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Canadian Premiers Urge Strong Response to Trump Tariff Threat Including Cutting Off Energy Exports

Some Canadian premiers are urging Ottawa to respond robustly to the threat of tariffs from incoming U.S. President Donald Trump and have highlighted critical minerals and metals as products that the U.S. relies on, Canada’s Finance Minister said on Wednesday. Canadian Prime Minister Justin Trudeau and other government ministers met with provincial premiers to discuss …

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Oil Little Changed as IEA Surplus Forecast Offsets Rate Cut Optimism

Summary IEA raises oil demand growth forecast for 2025 EU sanctions target ‘shadow fleet’ carrying Russian oil US gasoline, distillate stocks up more than expected last week (Reuters) – Oil prices were little changed on Thursday as a forecast for ample supply in the oil market offset optimism stemming from rising expectations of a U.S. …

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Oil Prices Rise as China’s Policy Easing Fuels Demand Hopes

(Reuters) – Oil prices climbed 1% on Wednesday as market participants anticipated a rise in demand from top importer China following Beijing’s latest plans to boost economic growth. Brent crude futures gained 75 cents, or 1.04%%, to $72.94 a barrel by 1011 GMT, while U.S. West Texas Intermediate crude futures rose 75 cents, or 1.09%, …

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Gassier But Cleaner US Power System Hits New Output Record in 2024

(Reuters) – U.S. power producers have raised total generation to new highs in 2024, fuelled mainly by record natural gas-fired output alongside a sharp jump in generation from renewable sources. Natural gas plants remain the key pillar of U.S. generation, accounting for a record 42% of total power production from January through November, according to …

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Oil Prices Ease, But China Policy Stance Checks Losses

Summary Oil keeps most of Monday’s gains with hopes for China stimulus Syria rebels set up government; banks, oil sector to reopen Tuesday China: first annual crude import growth in seven months (Reuters) – Oil prices slipped on Tuesday as concerns eased about the fallout from the overthrow of Syria’s president, despite support from China’s …

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U.S. Drillers Add Oil and Gas Rigs for First Time in 8 Weeks -Baker Hughes

Dec 6 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in eight 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, rose by seven to 589 in the week to …

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Oil Gives Back Some Gains After Source Says OPEC+ to Delay Output Hike

(Reuters) – Oil prices pared some gains on Thursday after a source told Reuters OPEC+ has agreed to delay a planned oil output hike until April 2025. Brent crude was up 24 cents, or 0.3%, to $72.55 a barrel at 1237 GMT. It had been at $72.84 before Reuters reported the delay. U.S. West Texas …

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PROFILE: Outspoken and Energy Realist CEO is Now Trump’s Oil Evangelist

Chris Wright has championed fossil fuels as a moral good and characterized climate change as modest   Standing shoulder to shoulder with his employees, Chris Wright, chief executive officer of oilfield services company Liberty Energy Inc., held up his glass in a toast. “To your health and the longer lives and healthier lives of billions of people …

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