North Sea oil squeezed as US ships crude like never before
As crude oil gushes out of the U.S. like never before, it looks increasingly like North Sea oil will suffer collateral damage.
crude
Saudi mulls raising gas prices to reduce dependence on crude
Saudi Arabia is considering a plan to raise domestic prices for gasoline and jet fuel in November at the latest, as the world’s biggest oil exporter pushes a program to curtail spending and reduce dependence on crude after a global slump in prices.
Oil holds gains near 1-week high as US drilling slows further
Oil held gains near the highest close in a week as US drillers reduced the number of active rigs by the most since January.
Brent steals show as hedge funds shun US crude
While enthusiasm in the US oil market dwindles, things are looking a little brighter across the pond.
Oil holds firm despite mixed signals on US crude inventories
Oil was steady amid mixed signals on U.S. crude inventories, with industry data showing supplies increased last week while government statistics were expected to indicate a decline.
Top oil traders tailor bespoke crude in a supermarket at sea
The biggest oil traders feeling the squeeze in a world awash with crude are seeking an edge by offering tailor-made cargoes in an offshore mega store.
US sees crude output breaking 48-year-old record in 2018
U.S. crude production will average more than 10 million barrels a day for the first time in 2018, breaking a record almost five decades old and keeping prices from rising as much as previously estimated, government forecasts showed Tuesday.
Oil slides below $45 as US shale confounds Opec
Oil slid below $45 a barrel for the first time since OPEC agreed to cut output in November as U.S. shale confounds the producer group’s attempts to prop up prices.
Brent falls below $50, lowest since November, as US stockpiles rise
The price of Brent crude has dropped below $50, the lowest in almost four months, as surging US stockpiles dim optimism that OPEC and its partners output cut will rebalance the market.
Opinion: Next oil rally? Futures say market is tightening
US oil inventories are at record levels, but there are a few glimmers of hope that the glut could be starting to subside.
BP’s Kwinana refinery to shut for maintenance
BP is to to shut down its Kwinana refinery in western Australia for maintenance.
National Iranian Oil Company in talks with Philippines over crude oil exports
The National Iranian Oil Company (NIOC) is negotiating with the Philippines over exporting four million barrels of crude per month to the country.
Oil extends gains as industry report shows US stockpile drop
Oil extended its advance as industry data showed U.S. crude stockpiles declined last week, trimming an inventory overhang.
Crude oil exports from Mexico rose almost 22% last month
Pemex said crude oil exports rose nearly 22% in September compared to the same month last year.
Brent crude trades 0.6% higher after drop in US crude inventories
The pound has made muted gains and the FTSE 100 stayed in the red after fresh labour data showed the jobless total rising for the first time since the turn of the year.
Nigerian Navy arrests alleged Niger Delta crude thieves
The Nigerian Navy arrested four alleged Niger Delta crude thieves, after being tipped off by children.
Militants attack oil pipeline in Niger Delta region
Militants are said to have blown up a crude oil pipeline operated by Nigeria's state oil firm NNPC in the Niger Delta.
Expro could fall under control of investment funds – reports
Expro could soon fall under the control of a quartet of investment funds as part of a financial overhaul, according to reports.
OPEC Secretary General and Iranian oil minister meet for talks on crude prices
A meeting between OPEC Secretary-General Mohammed Barkendo and Iran's oil minister has started in Tehran.
Bankers Petroleum signs deal with Ionian Refining and Trading for crude oil sales
Bankers Petroleum said it has signed an agreement of a conditional domestic offtake crude oil sales agreement with Ionian Refining and Trading Co.
Demand for food parcels increases almost five-fold in Europe’s oil capital
The number of food parcels being handed out in Aberdeen has has gone up almost five-fold in the past two years, according to a charity boss.
Oil heads for biggest monthly gain since April before OPEC talks
Oil is poised for the biggest monthly advance since April amid speculation informal talks among OPEC members in Algeria next month may result in action to stabilize the market.
Oil holds gains as Saudis see freeze as ‘positive’ for market
Oil held gains as Saudi Arabia’s energy minister said an output freeze would be positive for the market and after a report that Iran will participate in informal talks next month.
Oil heads for weekly gain as Saudis reiterate wish for stability
Oil is heading for its biggest weekly advance since April as Saudi Arabia signaled it’s prepared to discuss stabilizing markets at informal OPEC discussions next month after prices tumbled into a bear market.
Maersk profit plunges as lower oil, shipping prices take toll
A.P. Moeller Maersk A/S, Denmark’s biggest company, reported an 88 percent drop in second-quarter profit as its oil and container divisions both suffered from falling prices.