Oil prices fell on Tuesday as a stronger U.S. dollar compounded concerns that demand for fuel will be held back by major central banks holding interest rates higher for longer.
OIL Feed Atom
With the repair and maintenance services of Syria’s Homs Refinery completed, Iran can export 100,000 barrels of oil per day (bpd) to Syria, the chief executive of the National Iranian Oil Refining and Distribution Company (NIORDC) said.
One person has died and four others were injured in an incident at Iran's southern refinery of Bandar Abbas last week, Iranian state media reported on Monday.
Global demand for Canadian crude is bolstered by production and export cuts from Saudi Arabia and Russia.
Oil prices held steady on Monday after Russia relaxed its fuel ban, taking the edge off earlier gains on a tighter supply outlook and wariness over interest rates that could curb demand.
Bank of France head Francois Villeroy de Galhau, a governing council member of the European Central Bank (ECB), said on Saturday that the spike in oil and fuel prices did not change the ECB's objective to bring inflation back towards 2% by 2025.
Bank of France head Francois Villeroy de Galhau, a governing council member of the European Central Bank (ECB), said on Saturday that the spike in oil and fuel prices did not change the ECB's objective to bring inflation back towards 2% by 2025.
The large crude distillation unit (CDU) was shut on Friday at TotalEnergies' 238,000 barrel-per-day (bpd) Port Arthur, Texas, refinery following an interruption of feed, said people familiar with plant operations.
The Iranian oil sector’s economic growth rate jumped 368 percent year on year (YoY) in spring 2023.
Oil prices rose on Friday as renewed global supply concerns from Russia's fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates.
Iranian Oil Minister Javad Owji’s post on X, formerly called Twitter, highlighted the oil sector’s 16.4 percent economic growth in spring 2023, the highest rate in the country.
A C$16.5 billion ($12.27 billion) carbon capture and storage (CCS) project proposed by Canada's major oil producers will only move forward if the federal government sets up a contract to lock in future carbon prices, the Pathways Alliance said on Wednesday.
Oil prices fell on Thursday, after posting the largest decline in a month in the previous session, as the U.S. Federal Reserve held rates but signalled potential future hikes, offsetting the impact of drawdowns in U.S. crude stockpiles.
Iran has regained its pre-sanctions position in the OPEC crude oil production table with an increase of more than 1 million barrels per day (bpd) achieved under the 13th administration, said the National Iranian Oil Company (NIOC) managing director on Wednesday.
A number of oil and gas projects worth some $50 billion are in progress, said a National Iranian Oil Company (NIOC) official on Wednesday.
Enbridge Inc could add 200,000 barrels per day (bpd) of capacity to its 3 million bpd Mainline system, which ships the bulk of Canada's crude exports to the United States, a company executive said on Tuesday.
The OPEC+ group of leading oil producers will act if the global oil market faces a shortage, Alexander Dyukov, head of Russian oil firm Gazprom Neft, said on Wednesday.
Oil prices fell on Wednesday ahead of the U.S. Federal Reserve's interest rate decision, with investors uncertain when peak rates will be hit and how much of an impact it will have on energy demand.
A contract on the integrated development of the joint Azadegan oil field will be signed within a month, said the National Iranian Oil Company (NIOC) director of investment and business development on Wednesday.
Canada's Trans Mountain oil pipeline expansion, which will nearly triple the flow of crude from Alberta to Canada's Pacific Coast beginning early next year, will shake up North America's supply by diverting barrels now mainly delivered to refiners and exporters in the U.S. Midwest and Gulf Coast.