The U.S. Department of Energy's deputy secretary, James Danly, said on Monday that he does not think there will be an oil glut in 2026. "We have a demand signal for energy that is going up rapidly", Danly said at the ADIPEC energy conference in Abu Dhabi. (Reporting by Yousef Saba and Jana Choukeir, Writing by Ahmed Elimam; Editing by Louise Heavens) [Read more]
Big Oil gets big boost from escalating economic war on Russia: Bousso
Top Western oil companies are enjoying a windfall from the expanding attacks on Russia's oil industry – both literal and economic – that have boosted global refining profit margins and mitigated concerns over a looming supply glut. Waves of Ukrainian drone strikes on Russia's vast network of refineries and export terminals since July have hammered the country's exports of refined fuel, such as diesel and fuel oil. Russia's seaborne refined product exports in September dropped by 500,000 barrels [Read more]
OPEC’s Al Ghais says oil demand outlook remains positive, no market surprises expected
OPEC Secretary-General Haitham Al Ghais said on Monday that the group was still seeing positive signs for oil demand and did not expect any surprises in the market. "We are making sure we maintain the supply demand balance", Ghais added at a panel at ADIPEC energy conference in Abu Dhabi, a day after OPEC+ agreed a small oil output increase for December and a pause in increases in the first quarter of next year. (Reporting by Youssef Saba and Jana Chouekir, Writing by Ahmed Elimam; Editing [Read more]
ExxonMobil warns EU law could force exit from Europe
Woods joins a growing number of energy producers urging European lawmakers to revise the Corporate Sustainability Due Diligence Directive, which requires companies doing business in the EU to identify and address human rights and environmental risks across their supply chains. "If we can't be a successful company in Europe, and more importantly, if they start to try to take their harmful legislation and enforce that all around the world where we do business, it becomes impossible to stay [Read more]
Oil extends gains after OPEC+ pauses Q1 output hikes
Oil prices climbed in early Asian trade on Monday after OPEC+ decided to hold off production hikes in the first quarter of next year, easing rising fears of a supply glut. Brent crude futures rose 47 cents, or 0.73%, to $65.24 a barrel by 2336 GMT after closing 7 cents higher on Friday. U.S. West Texas Intermediate crude was at $61.43 a barrel, up 45 cents, or 0.74%, after settling up 41 cents in the previous session. The Organization of the Petroleum Exporting Countries and their allies, [Read more]
US natural gas futures soar to six-month high on LNG export surge
U.S. natural gas futures jumped about 4% on Friday to a six-month high, on near-record flows to liquefied natural gas (LNG) export plants, as output dropped and forecasters expected more demand over the next two weeks than they did previously. Front-month gas futures for December delivery on the New York Mercantile Exchange rose 16.8 cents, or 4.2%, to $4.124 per million British thermal units (mmBtu), their highest close since April 3. For the first time in four weeks, the contract remained [Read more]
US Gulf producer LLOG Exploration explores sale at $3 billion valuation, sources say
LLOG Exploration Offshore is exploring a potential sale, which may value one of the largest privately held oil and gas producers in the U.S. Gulf at more than $3 billion including debt, people familiar with the matter said. The Covington, Louisiana-based company is working with investment bankers at Guggenheim Securities on the effort, with a limited number of parties contacted in recent weeks to gauge buyer interest, said the sources. Gerald Boelte, who founded LLOG in 1977, passed away last [Read more]
US drillers cut oil and gas rigs for first time in three weeks, says Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three 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 four to 546 in the week to October 31, the lowest since September. Baker Hughes said this week's decline puts the total rig count down 39 rigs, or 7% below this time last year. It said oil rigs fell by six to 414 this week, [Read more]
US oil and gas production hit fresh record high in August, EIA data shows
U.S. oil and gas production rose to record highs in August, data from the Energy Information Administration released on Friday showed, despite concerns that the market is heading towards a surplus. Record U.S. oil production has been one of the main causes for a slump in commodity prices this year, with global benchmark Brent crude prices trading just above $65 on Friday, about 14% below the same time last year. It is also partly what has pushed the OPEC+ group to unwind years of deep supply [Read more]
Trump says he is not considering strikes within Venezuela
President Donald Trump on Friday denied he was considering strikes inside Venezuela, appearing to contradict his own comments from last week and amid intensifying expectations that Washington may soon expand drug-trafficking-related operations. The United States has built up a large military presence in the Caribbean in recent months, with fighter jets, warships and thousands of troops. That presence will significantly expand in the coming weeks with the arrival of the Gerald Ford aircraft [Read more]
- « Previous Page
- 1
- …
- 127
- 128
- 129
- 130
- 131
- …
- 1080
- Next Page »