- — Oil prices head for lowest close since depths of pandemic on trade war
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at 4/4/25 4:00amOil prices were heading on Friday towards their lowest close since the midst of the coronavirus pandemic in 2021, hit by U.S. President Donald Trump’s barrage of new tariffs and output increases announced by the OPEC+ producer group. Benchmarks tumbled further on Friday morning after China announced it will impose additional tariffs of 34% on ...- — The Commodities Feed: OPEC+ shocks with supply increase
- at 4/4/25 4:00amEnergy – OPEC+ shock supply increase Oil prices took a big hit yesterday as a barrage of new tariffs raised concerns over global growth and the outlook for oil demand. ICE Brent settled more than 6.4% lower on the day the largest sell-off since August 2022. It wasn’t just tariff concerns weighing on the ...
- — UBS cuts oil price forecasts for 2025-27 on OPEC+ unwind
- at 4/4/25 4:00amFollowing the recent decision by OPEC+ to boost oil production earlier than expected, UBS has revised its price projections for the years 2025 to 2027. The investment bank has cut its forecast for 2025 and 2026 by $3 per barrel to $72 and has decreased the 2027 forecast by $2 per barrel to $73. The ...
- — Fuel switching, renewables cause sharp decline in US power sector gas demand in March
- at 4/4/25 4:00amFuel switching contributed to lower US power sector gas demand during March, a trend that, based on current natural gas prices, could continue this summer. Power sector gas demand averaged 27.8 Bcf/d in March, almost 1.9 Bcf/d lower year over year, data from SP Global Commodity Insights showed March 31. This was only the fourth ...
- — Caspian oil pipeline consortium readies for court battle in Russia over stoppage order
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at 4/3/25 3:00pmThe Western-backed Caspian Pipeline Consortium is preparing to challenge in a Russian court a regulatory order that has crippled its exporting capabilities and threatened to cut oil flows to global markets, three industry sources told Reuters. Earlier this month, Russias transport regulator ordered the CPC consortium, whose shareholders include Chevron (CVX.N), and Exxon Mobil (XOM.N), ... - — Russia’s oil and gas revenue down 17% y/y in March
- at 4/3/25 3:00pmRussias oil and gas revenue declined by 17% in March to 1.1 trillion roubles ($13 billion) from the same month a year ago, finance ministry data showed on Thursday. In the first quarter, the revenue fell by almost 10% to 2.64 trillion roubles, according to the ministry. Oil and gas revenue has been the most ...
- — OPEC+ speeds up oil output hikes, oil drops
- at 4/3/25 3:00pmEight OPEC+ countries agreed on Thursday to advance their plan for oil output hikes by increasing oil output by 411,000 barrels per day in May, an unexpected decision that prompted oil prices to extend earlier losses. Oil, which was already down over 4% on U.S. President Donald Trumps announcement of tariffs on trading partners, extended ...
- — Oil and gas got off easy on Trump’s Liberation Day
- at 4/3/25 3:00pmPresident Donald Trumps reveal of sweeping import tariffs further darkened the outlook for the global economy and left many questions unanswered. But amid all the policy fog, oil and gas traders can point to a few bright spots. At an event in the White House Rose Garden, Trump announced tariffs on imports from many major ...
- — Middle East Crude-Benchmarks extend gains to one-month high over supply fears
- at 4/3/25 11:00amMiddle East crude benchmark spot premiums of Oman, Dubai and Murban rose for a second session on Thursday, hitting a more than one-month high as Russia tightened restrictions on Black Sea oil export ports. Russia, the worlds second-largest oil exporter, on Wednesday imposed restrictions on another major oil export route, suspending a mooring at the ...
- — Oil, copper slide as Trump tariffs rattle markets; gold hits record high
- at 4/3/25 4:00amCommodities including oil, copper and agricultural products fell on Thursday as U.S. President Donald Trumps aggressive tariffs on key trading partners fuelled fears of a global recession, while safe-heaven gold jumped to an all-time high. Trump announced a 10% minimum tariff on most U.S. imports, with significantly higher duties on goods from dozens of countries ...
- — US oil producers face new challenges as top oilfield flags
- at 4/3/25 4:00amU.S. oil producers are grappling with geological limits to production growth as the countrys top oilfield ages and produces more water and gas and less oil and may be nearing peak output. The Permian basin was the centerpiece of the shale revolution that began nearly two decades ago and spurred the U.S. to become ...
- — U.S. natural gas consumption set new winter and summer monthly records in 2024
- at 4/3/25 4:00amIn 2024, U.S. natural gas consumption averaged a record 90.3 billion cubic feet per day (Bcf/d) and set new winter and summer monthly records in January and July, according to data in our Natural Gas Monthly. Overall, U.S. consumption last year increased 1% (0.9 Bcf/d) from 2023. In January, natural gas consumption was up 12% ...
- — OPEC+ to discuss Kazakhstan output at Thursday’s meeting, sources say
- at 4/2/25 3:00pmEight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up gradual production hikes, two delegates told Reuters. Record Kazakh output has angered several other members of the group, including top producer Saudi Arabia, ...
- — US crude and distillate inventories rise, gasoline stocks fall, EIA says
- at 4/2/25 3:00pmU.S. crude oil and distillate inventories rose while gasoline inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 6.2 million barrels to 439.8 million barrels in the week ending March 28, the EIA said, compared with analysts expectations in a Reuters poll for a 2.1 million-barrel draw. Crude stocks ...
- — US crude inventories rise as imports jump ahead of new tariffs, EIA says
- at 4/2/25 3:00pmU.S. crude oil stockpiles rose sharply last week as refinery utilization declined and imports rose and the market braced for new tariffs from the Trump administration, the Energy Information Administration said on Wednesday. Crude inventories rose by 6.2 million barrels to 439.8 million barrels in the week ending March 28, the EIA said, compared with ...
- — Sinopec Discovers Record Amounts of Shale Oil in Its East China Shengli Oilfield
- at 4/2/25 3:00pmChina Petroleum Chemical Corporations (HKG: 0386, Sinopec or the Company) announced the discovery of over 140 million tonnes of proven geological reserves of shale oil with technically recoverable reserves of 11.3599 million tonnes at its Shengli Oilfields Jiyang shale oil national demonstration zone in East Chinas Shandong province on March 24, 2025. This is ...
- — OPEC: What does ‘green’ really mean?
- at 4/2/25 3:00pmSome energy sources get called green. Such a term or slogan can obscure energy realities. It is important we explore what green actually means. If green means no greenhouse gases emissions, then the full carbon footprint of an energy source should be considered, including production processes and transportation. For example, the manufacture, installation, operation and ...
- — Oil steadies as market awaits fresh US tariffs
- at 4/2/25 4:00amOil prices were little changed on Wednesday as traders remained cautious ahead of U.S. tariffs due to be announced at 2000 GMT, fearing they could exacerbate a global trade war and dampen demand for crude. Brent futures were down 7 cents, or 0.09%, at $74.42 a barrel by 0858 GMT. U.S. West Texas Intermediate crude ...
- — Asia outshines Europe and US in 2025 energy transition momentum
- at 4/2/25 4:00amThe year is still young, but Asia has already built up a considerable lead over several European countries and the United States in terms of energy transition progress so far in 2025. Large Asian nations including China, India, South Korea and Japan all reduced fossil fuel use and boosted clean power output by more than ...
- — U.S. crude oil inventories up last week: API
- at 4/2/25 4:00amThe American Petroleum Institute (API) on Tuesday reported an increase of 6.037 million barrels of crude oil in U.S. inventories for the week ending March 28. The API reported a decline of 4.600 million barrels in the previous week. Oil prices dipped on Tuesday. The West Texas Intermediate for May delivery lost 28 cents, or ...
- — China’s oil consumption to tick up 1.1% in 2025, CNPC think tank says
- at 4/2/25 4:00amChinas oil consumption will rise 1.1% in 2025 to 765 million metric tons amid better than expected economic growth and increasing demand for petrochemicals, a think tank affiliated with state energy company China National Petroleum Corp (CNPC) said on Tuesday. Oil demand from the petrochemical sector still has room to grow as Chinas per-capita plastic ...
As of 4/4/25 9:24am. Last new 4/4/25 6:12am.
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