Oil prices edged higher on Friday but were set to end the week broadly steady as sluggish economic growth in China, the world’s biggest crude importer, raised concerns about fuel demand and countered optimism from the signing of a China-US trade deal.
The world’s second-largest economy grew by 6...
China’s crude oil imports in 2019 surged 9.5% from a year earlier, setting a record for a 17th straight year, as demand growth from new refineries built last year propelled purchases by the world’s biggest importer, data showed on Tuesday.
Last year, China imported a record 506 million tons of...
Venezuela’s state-owned oil firm PDVSA is moving to market its crude oil overseas by enlisting its joint venture partners, including US supermajor Chevron, to sell cargoes to buyers in Asia and Africa, Reuters reported on Monday, quoting PDVSA documents and sources at the joint ventures.
Even...
Oil prices rose slightly on Monday as investors shift their focus away from easing Mideast tensions to this week’s scheduled signing of an initial US-China trade deal which could boost economic growth and demand.
Brent crude was up 20 cents at $65.18 per barrel, while West Texas Intermediate...
US shale production will be flat or even decline by 2021, and global oil demand is healthier this year than it was in 2019, UAE Energy Minister Suhail al-Mazrouei said Saturday.
"My expectation is that 2020 will be very good," he told reporters on the sidelines of the Atlantic Council Global...
Oil slipped towards $65 a barrel on Friday as the threat of war in the Middle East receded and investors focused on rising US inventories and other signs of ample supply.
Crude is now below where it was before a US drone strike killed Iran’s top general Qassem Soleimani on Jan. 3. Iran...
The United Arab Emirates’ energy minister said on Wednesday he saw no immediate risk to oil passing through the vital gateway of the Strait of Hormuz after Iran attacked bases housing US forces in Iraq.
Iranian officials have said the missile strikes were a response to Friday’s killing by US...
Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a US air strike which martyred a top Iranian military commander in Iraq.
Brent crude futures soared to a high of $70.74 a barrel,...
Construction of the first steam unit of Asaluyeh Combined-Cycle Power Plant has made 90% progress and is planned to come online by March.
The plant includes two gas units, each with a generation capacity of 166 megawatts. The 159 MW steam unit will lift the plant's efficiency to 50%, prevent...
Oil prices could surge toward $80 a barrel if escalating geopolitical tensions disrupt Middle East crude supplies, analysts told CNBC on Friday, with energy market participants “on tenterhooks” after a US airstrike on key Iranian and Iraqi military personnel.
International benchmark Brent crude...