Oil prices hit fresh 2-1/2-month lows on Tuesday as mixed economic data from China offset the impact of Saudi Arabia and Russia extending output cuts.
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Iranian oil exports have declined for the second consecutive month in October, with the country loading 1.43 million barrels per day of crude and condensate, Bloomberg reports, citing TankerTrackers.com data. The volume loaded for export in October was 194,000 bpd lower than September and reportedly the lowest export-loading volume since July.
RoydadNaft – The average landed price of Russian oil for Indian refineries in September eased from August, according to Indian government data, indicating widening discounts.
RoydadNaft – China’s oil refinery utilisation rates are easing from record third-quarter levels as thinning margins and a shortage of export quotas discourage plants from…
RoydadNaft – Canadian Prime Minister Justin Trudeau’s decision to grant a three-year carbon tax exemption for heating oil is meant to provide targeted relief to…
RoydadNaft – Venezuela’s state-owned PDVSA is in talks with local and foreign oilfield firms to hire equipment and services that would allow it to revive…
Oil prices edged up on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year.
The chief executive of the National Iranian Oil Company (NIOC) said main actors determine the future of the world’s energy, adding that in Iran, as one of the main players, opportunities have been provided for investing $250 billion in the oil industry within the next eight years.
RoydadNaft – The National Iranian Oil Company (NIOC) managing director opened up an opportunity for $250 billion investment in the upstream and downstream sectors within…
RoydadNaft – U.S. crude oil production hit a monthly record in August 2023, with an average output of 13.05 million barrels per day, breaking the…
Iran is ready to export technical and engineering services in the oil, gas, and petrochemical sectors, said First Vice President Mohammad Mokhber in the Chinese city of Shanghai on Sunday.
The U.S. House of Representatives easily passed a bill on Friday to bolster sanctions on Iranian oil in a strong bipartisan vote.
RoydadNaft – Canada energy infrastructure company Enbridge Inc on Friday reported third-quarter profit that topped analysts’ estimates and said it sees further opportunities for…
RoydadNaft – India’s Russian oil imports eased in October after discount prices narrowed, although supply from Saudi Arabia rose, according to preliminary data from ship…
RoydadNaft – Russia’s energy ministry said on Friday it expects the country’s exports of crude oil and petroleum products to fall in November by more…
Oil prices were little changed on Friday, but headed for a second week of losses as supply concerns driven by conflict in the Middle East eased, while the demand outlook from the world's top crude importer China remained uncertain.
Indian refiners can process Venezuelan oil and the nation may buy it provided that it is available cheaply, India's oil minister said on Wednesday, days after the U.S. temporarily lifted sanctions on OPEC member Venezuela's oil sector.
Oil gained 1% on Thursday to snap its three-day decline, as risk appetite returned to financial markets after the U.S. Federal Reserve kept benchmark interest rates on hold.
Iran oil proceeds topped $80 billion under lax sanctions enforcement.
With petroleum producers remaining disciplined and spending well below their cash flow levels, the Canadian sector should be in a healthy spot in 2024.