China's imports of crude oil rose in the first two months of the year compared with the same period in 2023, but they were also weaker than the preceding months, continuing a trend of softening purchases by the world's biggest buyer.
INTERNATIONAL Feed Atom
India's fuel consumption rose 5.7% year-on-year in February, government data showed on Thursday, helped by strong factory activity in the world's third-biggest oil importer and consumer.
Brent crude futures slipped 8 cents to $82.88 a barrel by 0736 GMT, while U.S. West Texas Intermediate crude futures inched down 7 cents to $79.06 a barrel.
TotalEnergies and QatarEnergy on Wednesday said they had agreed to buy a stake in a licence to seek oil and gas off South Africa as part of their plans to develop the Orange basin area in neighbouring Namibia.
One of Turkey's mid-sized Mediterranean oil terminals - the Dortyol terminal - will no longer accept Russian imports after receiving record volumes last year, amid an increase in sanctions pressure by the United States.
Brent crude futures were up 27 cents to $82.31 a barrel at 0745 GMT after falling in the previous four sessions, while U.S. West Texas Intermediate crude futures rose 36 cents to $78.51 a barrel, after declining the past two days.
Brent crude was up 15 cents, or 0.2%, to $82.95 a barrel by 0911 GMT, while U.S. West Texas Intermediate (WTI) fell 21 cents, or 0.3%, to $78.53. Brent has gained almost 8% this year.
OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, giving extra support to the market amid concerns over global growth and rising output outside the group.
Brent futures climbed 14 cents to $83.69 a barrel at 0729 GMT after rising 2.4% last week. U.S. West Texas Intermediate (WTI) inched up 3 cents to $80 a barrel following a 4.6% gain last week.
The 7th Summit of Heads of State and Government of the Member Countries of the Gas Exporting Countries Forum (GECF) convened in the historic city of Algiers, the People’s Democratic Republic of Algeria, on 2 March 2024.
Venezuela's oil exports slightly increased in February to some 670,000 barrels per day (bpd), but ongoing shipping delays worsened a bottleneck of tankers waiting to load, according to documents and vessel monitoring data.
The Indian government hiked its windfall tax on petroleum crude to 4,600 rupees ($55.51) a metric ton from 3,300 rupees with effect from March 1, according to a government order released on Thursday.
Canada will expedite the approval process for new nuclear projects, but will not exclude them from the federal environmental review as requested by the province of Ontario, Energy and Natural Resources Minister Jonathan Wilkinson said.
Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter said.
French company TotalEnergies announced on Thursday a deal to supply Singapore's Sembcorp Industries with up to 0.8 million tons of liquefied natural gas (LNG) per annum (Mtpa) for 16 years, from 2027 onwards.
Brent crude futures for April fell 43 cents, or 0.5%, to $83.25 a barrel by 0830 GMT. U.S. West Texas Intermediate crude futures were down 26 cents, or 0.3%, to $78.28 a barrel.
Brent crude futures fell 49 cents, or 0.6%, to $83.16 a barrel by 0302 GMT, while U.S. West Texas Intermediate futures (WTI) dropped 48 cents to $78.39 a barrel.
Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas and Housing and Urban Affairs, virtually launched ‘STORM’, a customised fuel specially curated by Indian Oil for FIM Asia Road Racing Championship 2024 season.
Canada's largest pension funds, which hold trillions of dollars in assets combined, are trailing behind many of their international counterparts when it comes to shifting away from investments in fossil fuels, a new report has found.
Brent crude futures rose 36 cents, or 0.44%, to $82.89 a barrel by 0745 GMT, while U.S. West Texas Intermediate crude futures (WTI) were up 31 cents, or 0.40%, to $77.89 a barrel.