- — Oil extends losses on report of talks to end Lebanon war
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at 10/29/24 4:00pmOil prices edged down on Tuesday, after a 6% tumble in the previous session, on a report that Israeli Prime Minister Benjamin Netanyahu will hold a meeting for a diplomatic solution to the war in Lebanon. Brent crude futures eased 31 cents, or 0.4%, to $71.11 a barrel by 11:23 a.m. ET (1523 GMT), while ...- — Saudi energy minister commits to crude capacity levels and climate targets
- at 10/29/24 4:00pmSaudi Arabia is committed to maintaining crude capacity at 12.3 million barrels per day, Energy Minister Prince Abulaziz bin Salman said on Tuesday. Speaking at the Future Investment Initiative (FII) conference in Riyadh, he said the worlds largest oil exporter would maintain its crude targets while also pursuing its climate aims. We will monetize every ...
- — US crude oil inventories expected higher amid slower refinery runs
- at 10/29/24 4:00pmUS crude oil inventory builds likely extended in the week ended Oct. 25, according to an SP Global Commodity Insights survey of analysts, amid an expected downturn in refinery demand. US commercial crude stocks likely climbed 800,000 barrels to around 426.8 million barrels, analysts said, leaving stocks around 4% behind the five-year average of US ...
- — PetroChina’s Q3 profit down 5.3% on fuel sales decline, lower oil prices
- at 10/29/24 4:00pmAsias largest oil and gas producer PetroChina Co Ltd reported a 5.3% year-on-year decline in third-quarter net profit as weaker fuel sales and lower oil prices outweighed growing gas and oil output. Net profit fell to 43.91 billion yuan ($6.15 billion), the company said in a stock filing on Tuesday. Revenue fell 12.4% to 702.4 ...
- — Brazil’s Petrobras Q3 oil production down 8.2%
- at 10/29/24 4:00pmOil giant Petrobras oil output in Brazil was down 8.2% year-on-year in the third quarter, to 2.13 million barrels per day (bpd), the state-controlled company said. Petrobras also posted a 6.5% decrease in total production in the period, to 2.69 millionbarrels of oil equivalent per day (boepd). Output from the firms pre-salt fields, an oil-rich ...
- — CNOOC Limited Achieves Record High Net Production and Net Profit in Q3 2024
- at 10/29/24 4:00pmCNOOC Limited (the Counter) and 80883 (RMB Counter), SSE: 600938) today announces its operating results for the third quarter of 2024. In the first three quarters of 2024, CNOOC Limited continued to increase its reserves and production, while effectively controlling costs and enhancing efficiency. Net production and net profit rose remarkably year over year (YoY), ...
- — Eni, BP drilling for oil onshore Libya after 10-year hiatus: NOC
- at 10/29/24 4:00pmEuropean energy majors Eni and BP have resumed onshore exploration activities in Libya after a 10-year hiatus, the countrys National Oil Corporation said, as the key sector continues to strengthen following a recent shutdown. Italian company Eni and British company BP have resumed their exploration activities in Libya after stopping drilling operations in the onshore ...
- — Middle East Crude-Dubai, Oman’s premiums slump; Total buys another 2 cargoes
- at 10/29/24 12:00pmSpot premiums for Middle East crude benchmarks Oman and Dubai slumped in volatile trade towards the end of the month, while Murbans premium climbed for a second session. SINGAPORE CASH DEALS Cash Dubais premium to swaps fell 30 cents to 87 cents a barrel. Chevron will deliver one cargo of December-loading al-Shaheen and another cargo ...
- — US seeks up to 3 million barrels of oil for emergency reserve
- at 10/29/24 12:00pmThe U.S. on Monday said it is seeking up to 3 million barrels of oil for the Strategic Petroleum Reserve for delivery through May next year, a purchase that would leave the government with little money to buy more until lawmakers approve more funds. The solicitation for the oil which would be delivered to the ...
- — Oil prices little changed though US reserve bid lends support
- at 10/29/24 5:00amOil prices inched up on Tuesday after tumbling 6% in the previous session, as a U.S. plan to buy oil for the Strategic Petroleum Reserve (SPR) provided some support though wider concerns about weaker future demand growth exerted pressure. Brent crude futures LCOc1 climbed 63 cents, or 0.88% to $72.05 a barrel by 0847 GMT, ...
- — The Commodities Feed: Supply risks subside for now
- at 10/29/24 5:00amEnergy – SPR refill The oil market came under significant pressure yesterday as the market digested Israel’s long-awaited response to Iran’s recent missile attack. ICE Brent settled more than 6% lower on the day leaving it at just below $72/bbl. As we mentioned yesterday, the targeted response from Israel does leave the door open for ...
- — Festivals, agriculture, elections set to boost India’s oil products demand in Q4
- at 10/29/24 5:00amIndias appetite for oil products in the October-December quarter is set to get a boost from the upcoming festival season as well as the agricultural season, recovering from a few months of subdued consumption because of excessive monsoon rains, industry sources and analysts told SP Global Commodity Insights. Provincial elections in some states as well ...
- — A ‘tidal wave’ of natural gas supply — the biggest yet — will reshape global markets, says RBC Capital
- at 10/29/24 5:00amThe biggest influx of liquefied natural gas, or LNG, supply is coming online and it will transform the global market, bringing about wide and enduring effects, said RBC Capital Markets. “A wave of new LNG supply —the biggest yet— is set to reshape the global market in the coming years, with broader implications than prior ...
- — European gas market shows subdued interest in preliminary storage auctions
- at 10/29/24 5:00amEuropean natural gas storage auction prices for 2025 capacity point to potential supply risks over coming months that continue to provide support to season-ahead contract prices, tightening the next summer-winter spread significantly. Frances Storengy, the countrys largest storage operator with a technical capacity of 95.4 TWh, saw a clearing price in its Oct. 2 auction ...
- — Oil prices likely to fall after Israel shows restraint in strikes on Iran
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at 10/27/24 4:00pmOil prices are expected to fall when trading resumes on Monday as Israels retaliatory strike on Iran over the weekend bypassed Tehrans oil and nuclear infrastructure and did not disrupt energy supplies, analysts said. Brent LCOc1 and U.S. West Texas Intermediate crude futures CLc1 gained 4% last week in volatile trade as markets priced in ... - — US oil and gas rig count steady this week, down two in October – Baker Hughes
- at 10/27/24 4:00pmU.S. energy firms kept the number of oil and natural gas rigs unchanged this week, with the count falling by two in October, energy services firm Baker Hughes said in its closely followed report. The oil and gas rig count, an early indicator of future output, held at 585 in the week to Oct. 25. ...
- — US Cash Crude-Grades mixed on last day of roll trade
- at 10/27/24 4:00pmU.S. crude grades were mixed on Friday, dealers said, on the last day of the volatile roll trading period. Prices to roll U.S. crude oil positions from November to December traded at 30 cents a barrel, dealers said, up from 25 cents a barrel on Thursday. Traders use the three-day roll period to square positions ...
- — India’s oil demand may rise nearly 4% in December quarter: S&P Global
- at 10/27/24 4:00pmIndias oil demand is expected to rise by nearly 4% on-year in the December quarter due to festivals and the rabi season, ratings agency SP Global said. We forecast an annual demand increase of 50,000-55,000 barrels per day (b/d) for both gasoline and diesel in Q4 (2024), although the northeast monsoon rains may slightly impede ...
- — MEXICO DATA: Pemex crude production hits new low in September
- at 10/27/24 12:00pmCrude production by Mexicos state oil company Pemex fell to a new multidecade low in September, the last month under the administration of former President Andres Manuel López Obrador, who invested roughly $50 billion into the company to keep it afloat during his six-year term. September gas production remained at its lowest for at least ...
- — Equinor sees upward gas price pressure, lower storages next year
- at 10/27/24 12:00pmEuropean gas prices are still subject to upward pressure due to rising demand in Asia and concerns over future supply of Russian and liquefied natural gas (LNG), the CEO of Norwegian oil and gas producer Equinor said. Winter is approaching, and European demand will depend on the weather and temperature. A normal or cold winter ...
- — The CCS imperative: Enhancing capacity to mitigate upstream emissions in Asia-Pacific
- at 10/25/24 3:00pmThe deployment of carbon capture and storage is crucial to achieve substantial reductions in upstream emissions. CCS has the potential to reduce lifecycle emissions of upstream oil and gas assets by up to 60%, according to Vantage Upstream Enhanced Emissions datasets from SP Global Commodity Insights. This reduction is contingent upon several factors, including the ...
As of 10/29/24 6:13pm. Last new 10/29/24 5:16pm.
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