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Oil & Gas
Oil Jumps 4% to 5-Week High Lifted by OPEC+ Output Cut
Oil prices jumped about 4% to a five-week high on Friday, lifted again by an OPEC+ decision this week to make its largest supply cut since 2020 despite concern
Oil & Gas
Shell Warns Weak Earnings From Gas Trading Could Impact Profits
Shell warned that third-quarter profits would be dented after it weathered a sharp rise in refining costs and weaker earnings from natural gas trading.
Oil & Gas
U.S. Sells Oil from Emergency Reserve to Marathon, Equinor, Others
The United States has sold a 10.15 million barrel batch of oil from the Strategic Petroleum Reserve to eight companies, the Department of Energy said on Friday.
Oil & Gas
Biden to US Oil Companies: ‘Bring Down Petrol Prices Now’
Crude prices have fallen in recent weeks on fears of a global economic slowdown.
Oil & Gas
Oil Prices Steady on Prospect of Balancing Supply After Steep Selloff
Oil steadied in early Asian trade on Tuesday as indications that producer alliance OPEC+ sought to avoid a collapse in prices, along with a slight softening in
Oil & Gas
BP, Chevron Cut Offshore Oil Production Ahead of Hurricane Ian
BP Plc and Chevron Corp on Monday said they have shut-in production at offshore oil platforms in the Gulf of Mexico, as a powerful Hurricane Ian bore down on th
Oil & Gas
Oil Prices Fall on Fuel Demand Fears Sparked by Recession Concerns
Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession.
Oil & Gas
Nigeria’s Fuel Subsidies Surpassed $1 Billion in August as It Supplied More Petrol
The cost of Nigeria's fuel subsidies rose to 525.714 billion naira in August, bringing the total spent this year to 2.568 trillion naira, according to figures s
Oil & Gas
Volkswagen Warns: High Gas Prices Could Impact Car Production
Germany's Volkswagen AG warned on Thursday that global auto production will be at risk in 2023 if Russia fails to resume deliveries of natural gas through Nord
Oil & Gas
U.S. To Sell Up to 10 Mln Bbls of Oil From SPR for Nov. Delivery
The U.S. Energy Department said on Monday it will sell up to 10 million barrels of oil from the Strategic Petroleum Reserve, for delivery in November.
Oil & Gas
Oil Rises on Weakening Dollar, Potential Supply Disruptions
Oil prices edged upwards in early Asian trade on Thursday, as supply concerns and a looming rail stoppage in the United States, the world's biggest crude consum
Oil & Gas
Oil Prices Climb on Tight Supply Worries
Oil prices rose by as much as $1 per barrel on Thursday after dropping below key technical support levels in the previous session, as an energy standoff between
Energy Economy
What Will Be Inside UK’s Energy Bill Package for Households and Businesses?
Britain’s new Deputy Prime Minister has confirmed that details of the government’s support will be revealed later this week
Oil & Gas
Will Germany Introduce a Windfall Tax on Energy Firms?
As rising energy prices and a new gas levy in Germany are expected to triple fuel bills for consumers from autumn, pressure is mounting on the government to int
Oil & Gas
Oil Climbs on Prospect of OPEC Supply Cut, Demand Growth
UAE, Oman back Saudi view on possible output cut
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