US crude exports to Asia are set to swell over March and April as a drop in freight rates makes US cargoes more competitive against barrels from Asia or the Middle East, according to market participants and shipping fixtures Friday.
Industry sources indicated that US crude continued to attract...
OPEC crude output fell the most in two years last month as the group implemented almost 80% of its new production cuts deal.
Top exporter Saudi Arabia cut deeper than pledged, while its close allies the United Arab Emirates and Kuwait also made sizable reductions, Bloomberg reported.
Those...
Russian oil output declined to 11.38 million barrels per day in January, or by around 35,000 bpd from the October 2018 level, the baseline for the global oil accord, missing the deal’s target, Energy Ministry data showed on Saturday.
This was down from 11.45 million bpd in December, a record...
European buyers of the heavy crude produced by Venezuela’s PDVSA have put their purchases on hold in anticipation of sanctions against the government in Caracas to be announced by the European Union.
The European Parliament followed Washington’s example in recognizing national Assembly President...
PetroChina is looking to drop Venezuela’s state-owned oil firm PDVSA as an equity partner in a planned and long-delayed $10-billion oil refinery and petrochemical complex in southern China, Reuters reported on Thursday, quoting executives and an official with the Chinese company and its parent...
India is in talks with the US to extend a waiver permitting it to continue importing Iranian oil after March, an Indian Oil Ministry official said Thursday.
"We are hopeful of another extension of the waiver by the US administration for six months," the official told reporters, S&P Global...
More than 24 hours after the United States announced large-scale sanctions on Venezuela’s nationally owned oil company, merchant trading firms and refiners were still deciphering what the measures prohibited.
The sanctions, announced on Monday, are aimed at driving President Nicolas Maduro from...
Gas reserves in the Middle East can create opportunities for employment, business and peacemaking, according to Egypt's petroleum minister.
Amid a push by Egypt to transform itself into a regional gas hub, the country hosted the East Med Gas Hub earlier in January and brought together officials...
Oil prices fell on Monday after US energy firms added rigs for the first time this year in a sign that crude production there may rise further, and as China, the world’s second-largest oil user, reported additional signs of an economic slowdown.
US crude oil futures were at $53.43 per barrel,...
South Korea’s presidential office said Monday that Qatar’s energy minister outlined plans during a bilateral summit in Doha to order 60 new liquefied natural gas carriers.
Saad Sherida Al-Kaabi, who also serves as deputy chairman of Qatar Petroleum, said he expects cooperation with experienced...