China’s crude oil imports hit a record high on a daily basis in November, as refiners operated at high run rates to use up annual import quotas.
The world’s top oil buyer imported 45.74 million tons of crude, equivalent to 11.13 million barrels per day, according to data released by the General...
President Hassan Rouhani said Sunday the country has become self-sufficient in the production of natural gas, gasoline and diesel and has started exporting the three fuels.
“In the past our gas exports had to be suspended in the winter months. Today exports continue despite the cold winters,”...
OPEC and its allies (OPEC+ including Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, South Sudan and Sudan) led by Russia agreed to cut output by an additional 500,000 barrels per day until March 2020 as the 177th OPEC meeting held in Vienna, Austria, closed on Friday.
The move...
Oil gained on Wednesday ahead of meetings this week where OPEC and its allies are expected to extend production curbs to support the market, while industry data showing that US crude stockpiles fell more than expected helped to lift prices, Reuters reported.
Brent crude futures were up 75 cents...
Ecuador may renege on its decision to quit its OPEC membership, according to anonymous sources cited by S&P Global Platts, which was supposed to take effect January 1, 2020.
Ecuador had announced its decision to quit the oil cartel in earlier October, at a time when the country declared a...
Oil prices edged higher on rising expectations of deeper output cuts when OPEC and its allies meet this week, although skepticism about a deal among some analysts limited the gains.
Brent futures rose 43 cents to $61.35 a barrel on Tuesday. US West Texas Intermediate crude was up 44 cents at $56...
OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said.
The deal being discussed by the Organization...
Russian energy minister Alexander Novak said Friday it is too early to talk about extending the OPEC+ crude production agreement and the producer group should take a decision closer to April, the Prime news agency reported.
"We have a valid agreement until April 1," Novak told reporters in...
Natural gas is an 'indispensable' part of the global energy mix needed to limit the impact of climate change and protect the environment, the Gas Exporting Countries' Forum (GECF) said Friday.
In a communique following the GECF's 5th Gas Summit in Malabo, Equatorial Guinea, the forum said...
Canada may have missed its chance to become an important player on the global liquefied natural gas market unless it changes its regulatory regime to make building LNG plants easier.
This is the opinion of the former head of the International Energy Agency, Maria van den Hoeven, who spoke to...