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Crude Oil
OPEC+ Plans To Meet More Frequently To Discuss Oil Market Balancing
OPEC+ will take a more hands-on approach to global oil markets now that it plans to meet more frequently, citing the leaders of the group, Saudi Arabia and Russ…
Oil & Gas Trade
China Issues 122.59 mln T in 1st Round of Oil Import Quotas
Beijing had said inThe ZPC plant last month started operations at a 200,000 barrel per day (bpd) crude processing unit.
Crude Oil
China's Top Refiner Sees Oil Product Demand Peak By 2025
China's largest refiner, Sinopec, expects domestic demand for oil products to peak by 2025 due to COVID impacts and the rise of electric vehicles, citing Sinope…
Crude Oil
ONGC Opens Eighth Hydrocarbon Producing Basin of India
State-owned Oil and Natural Gas Corporation on Sunday opened India's eighth hydrocarbon producing basin when it started oil flow from a well in the Bengal basin…
Crude Oil
Belarus Suspends Klaipeda Oil Product Exports
Belarus appears to be halting oil product exports through the Lithuanian port of Klaipeda in what may be a politically-motivated move.
Oil & Gas Trade
Putin: Russia Reduces Its Dependence On Oil
Russia is successfully weaning itself off oil revenues, President Vladimir Putin said today during an annual end-of-the-year news conference, as quoted by RT.
Crude Oil
Oil Jumps On Crude Inventory Draw
Crude oil prices rose today after the Energy Information Administration reported a crude oil inventory decline of 3.1 million barrels for the week to December 1…
Crude Oil
OPEC President: OPEC+ Shouldn’t Hurry To Ease Oil Output Cuts
The OPEC+ group of producers must continue to calibrate the easing of its collective oil production cuts to the still fragile global oil demand in the pandemic.
Crude Oil
OPEC Cuts 2021 Oil Demand Outlook Again as Pandemic Impact Lingers
Global oil demand will rebound more slowly in 2021 than previously thought because of the lingering impact of the coronavirus pandemic, OPEC said on Monday, ham…
Crude Oil
Oil Production Cuts to End in Norway on December 31st
Throughout this year, Norway imposed oil production cuts to push up oil prices, as was reported by the Petroleum and Energy Ministry of the country.
Crude Oil
OMAN: November Crude Oil Production Slightly Exceeds OPEC+ Quota
China is by far the largest importer of Omani crude.
Oil Pipeline
Iran Controls Oil Pipeline Spillage, Fire in Southwest
A pipeline carrying crude oil to Iran’s second largest refinery ruptured and burst into flames on Sunday, but the spillage and the blaze were brought under con…
Oil Field
Karoon Offloads First Oil from Recently-Bought Baúna Field
Australian player Karoon Energy has offloaded its first shipment of over 500,000 barrels of oil from its newly acquired Baúna production field, offshore Brazil…
Crude Oil
Oil Hits $50 On Vaccine Rollout
Brent Crude hit $50 a barrel on Thursday morning for the first time since oil prices crashed in early March, as hopes of swifter-than-thought vaccine rollout fu…
Crude Oil
US Energy Agency Revises up Oil Price Forecast
Brent price expected to increase by 2.1%, according to Energy Info. Administration's Short-Term Energy Outlook for December
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