Oil prices weakened on Monday after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude.
Brent crude slipped 22 cents, or 0.4%, to $59.03 a barrel, while U.S. oil was down 2 cents at $55.083 at barrel,...
While US sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports, its oil product sales remain strong at nearly $500 million a month, shipping data and Reuters calculations show.
Sanctions have barely affected Iran’s exports of oil products, primarily fuel oil used for...
The Chinese economy has come under pressure from the US-China trade war which has made tacking climate change more difficult for Beijing, a senior official said on Friday, noting that China will not be able to meet its emissions reduction goals years ahead of schedule.
“With the economy under...
Gazprom admitted that its gas exports to Europe would fall in 2019, meaning that its 200.8 billion cubic meters of gas it shipped in 2018 to Europe and Turkey is now a thing of the past.
Gazprom had previously said it would maintain this high level of exports. It will also ship gas at lower...
OPEC oil output increased in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top exporter Saudi Arabia and losses caused by US sanctions on Iran, a Reuters survey found.
The 14-member Organization of the Petroleum Exporting Countries has pumped...
A handful of oil tankers carrying US crude to China are racing to beat the September 1 deadline when Beijing's 5% tariff on US crude imports will kick in, but not all will cross the finishing line on time.
The seaborne cargoes underscore how the US-China trade conflict has elevated the risk for...
The state-owned Qatar Petroleum and France's Total have signed exploration and production agreements for two offshore blocks in Namibia, QP announced Tuesday.
QP will take a 30% interest in oil block 2913B, while Total will take a 40% interest and will operate the block, Reuters reported. ...
China's crude oil imports from Iran rose 4.7% month on month to 926,119 bpd in July, while the US ranked as the eighth largest crude supplier as shipments surged to a 13-month high of 362,364 bpd, data made available Tuesday by China's General Administration of Customs showed.
GAC releases data...
Kenya's President Uhuru Kenyatta flagged off the country's first export shipment of oil Monday, more than 200,000 barrels of crude.
The oil exports begin an era of greater prosperity for Kenyans. The oil was purchased by a British-based Chinese company, according to a Kenyan government...
Oil prices rose on Monday after the United States and China both suggested they could ease up in a trade war that has undermined the outlook for the global economy and for crude demand.
Brent was up 33 cents, or 0.6%, at $59.67 a barrel, while WTI was also up 33 cents, or 0.6%, at $54.50 a...