$100 oil is in sight, says analysts and Chevron CEO
As crude futures leap higher, traders and analysts are increasingly talking about when — not if — prices return to $100 a barrel.
crude oil
China cuts crude oil import quota and favors mega-refiners
China’s government cut the amount of crude oil import quota awarded to independent oil refiners and favored large, complex processors as it seeks to reform the sector.
New Gunvor bribery ‘skeleton’ haunts oil tader’s pledge to reform
In late 2019 Gunvor Group, one of the world’s biggest oil traders, said it would make a clean break from the past by settling a long-running bribery case in Africa.
Pacific Island nation tells Venezuela ‘that oil tanker isn’t ours’
The island nation of Palau says a tanker that recently loaded Venezuelan crude was using a false signal to disguise its identity, potentially putting the Pacific country in the crosshairs of U.S. sanctions.
Oil clings to rally on signs of coronavirus vaccine progress
Crude held onto a rally amid progress on the development of coronavirus vaccines, with investors shrugging off a smaller-than-expected U.S. inventory build.
Oil pares losses after U.S. crude and fuel supplies decline
Oil pared losses as shrinking American crude and refined product stockpiles countered troubling signs of a slowing labor market recovery.
Norway Oil strike to end after mediation
A strike that shut down about 8% of Norway’s oil and gas output will end after successful mediation talks, said Norwegian Oil and Gas Association spokesman Kolbjorn Andreassen
Oil back above $40, buoyed by rising equities and technicals
Oil moved back above $40 a barrel in London, as broader markets rebounded from Tuesday’s selloff.
Oil rises with dual storms shutting U.S. Gulf Coast production
Oil rose as production was disrupted by two storms approaching the U.S. Gulf Coast.
Pain of crude crash impacts Russia as OPEC prepares to cut output
The Kremlin may have succeeded in ending its oil war with Saudi Arabia, yet the pain of crude’s crash is only just starting to hit Russia’s budget.
Trump’s answer to the oil crash could be a tax on Saudi crude
If Donald Trump wanted to shield U.S. shale from oil’s crash, he could unleash a familiar weapon against rival producers such as Saudi Arabia: tariffs.
Equinor’s new grade of North Sea crude popular in Asian oil market
A new grade of North Sea crude produced by Norwegian energy giant Equinor is seeping into the Asian oil market at pace, reports suggest.
Norwegian oil making competitive entry into Asian markets
Norway’s new oil grade is making inroads in Asia, threatening to undermine sales of similar crudes from Africa and South America.
North Sea oil to retain Korea tariff waiver even with no-deal Brexit
North Sea crude will retain its attractiveness to South Korean buyers when the U.K. leaves the European Union following a deal between the two countries.
Big crude draw offset by large products build
A large draw of more than 7 million barrels of commercial crude oil from U.S. stocks was more than offset by massive refined products builds of gasoline, diesel and heating oils.
Oil price hangs around $50 as market expects increased US crude stocks
Oil hovered around $50 a barrel as traders awaited weekly storage data that may show the longest expansion of U.S. crude inventories in almost half a year.
Brexit: Oil tumbles as investors seek safety after vote
Oil tumbled with most commodities amid a global flight from risky assets as the UK voted to leave the European Union.
Cheap fuel prices may have bottomed out warns RAC
Motorists have been warned that the cheap fuel market may have bottomed out as the price of oil shows early signs of recovery.
UAE plans to increase crude oil and natural gas production
The United Arab Emirates (UAE) was the world's sixth-largest oil producer in 2014, and the second-largest producer of petroleum and other liquids in the Organization of the Petroleum Exporting Countries (OPEC), behind only Saudi Arabia.
Crude oil poised to extend slump
Crude oil is poised to extend the biggest slump in more than two years after Saudi Arabia signaled it’s ready for a price war with other OPEC members, according to Commerzbank AG and Citigroup Inc. Saudi Aramco, the state-run oil producer of the world’s biggest exporter, cut prices on Oct. 1 for all its exports, reducing those for Asia to the lowest level since 2008.