Canada's biggest oil producers are targeting late 2027 for a final investment decision on their proposed 6-million-tonne carbon capture and storage project, a key piece of the country's plan to grow oil production and keep emissions in check, the president of the Oil Sands Alliance industry group told Reuters.
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The head of Well Repair, Completion and Technical Services at the National Iranian South Oilfields Company announced a significant increase in the activity of workover rigs and coiled tubing units during the first four months of this year, stating that these operations have played an effective role in sustaining and boosting oil production by reviving wells, resolving technical problems and restoring production capacity.
Brent crude futures rose 20 cents, or 0.22%, to $91.07 a barrel. U.S. West Texas Intermediate (WTI) crude futures climbed 49 cents, or 0.58%, to $84.99 a barrel.
A series of new Canadian crude oil export pipeline projects could help the world's fourth-largest oil producer meet global demand and come closer to achieving Prime Minister Mark Carney's "energy superpower" ambition.
Brent crude futures rose 43 cents, or 0.5%, to $88.95 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 25 cents, or 0.3%, to $82.65 a barrel.
Saudi Aramco is offering crude oil outside the Strait of Hormuz to some Asian refiners through private negotiations, two sources with knowledge of the matter said on Monday, in a strategy similar to that adopted by United Arab Emirates' Abu Dhabi National Oil Co (ADNOC).
The United Arab Emirates said on Saturday Iran had attacked an Abu Dhabi National Oil Company vessel while it was transiting the Strait of Hormuz a day earlier, the Emirati state news agency WAM reported.
Officials from Tehran and Dushanbe will ink a long-term cooperation agreement for the export of petroleum products and the supply of crude oil to Tajikistan’s refineries.
The CEO of the National Iranian Oil Company dismissed social media reports linking oil pollution and slicks in the sea near Qeshm Island to Iran’s oil facilities, saying the company has only limited facilities in the area and they are currently shut down for maintenance.
Tajikistan plans to expand infrastructure and logistics capacity to increase the volume of crude oil and petroleum products transported between Iran and Tajikistan, the country’s transport minister said Saturday.
Five senior Iranian officials will face sanctions for their involvement in activities in the Strait of Hormuz that "undermine international peace," according to Canada's foreign affairs minister.
Brent crude oil futures rose $1.43, or 1.64%, to $88.50 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.56, or 1.92%, to $82.81 a barrel.
Indian dependence on Russia's crude surged to a record in July, with shipments from the country making up 50.83% of imports by the third-biggest oil buyer and consumer, or 2.47 million barrels per day, data from trade sources showed.
Brent crude oil futures fell $1.54, or 1.7%, to $87.44 a barrel. U.S. West Texas Intermediate (WTI) crude futures declined $1.61, or 1.9%, to $81.66 a barrel.
Totsa, the trading arm of TotalEnergies, is offering Iraqi crude for loading outside the Strait of Hormuz, three traders said on Thursday, as continued disruption to shipping through the waterway deters buyers from lifting cargoes at Iraq's Basrah terminals.
Iran’s crude oil production rose by 26,000 barrels per day in July 2026, reaching 2.478 million barrels per day and maintaining the country’s position as OPEC’s second-largest producer after Saudi Arabia, according to the organization’s latest monthly oil market report.
Brent crude futures rose 17 cents, or 0.2%, to $89.08 a barrel. U.S. West Texas Intermediate (WTI) crude rose 20 cents, or 0.2%, to $83.40 a barrel.
Global oil supply will fall by 4.3 million barrels per day, or around 4%, this year, the International Energy Agency said in its monthly oil market report on Wednesday, as renewed hostilities in the Middle East are set to plunge the world deeper into an oil-market deficit.
Brent crude futures fell 50 cents, or 0.57%, to $87.22 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped 36 cents, or 0.44%, to $81.77 a barrel.
The Tehran Oil Refinery is pursuing a strategy to expand its export-oriented product portfolio, develop new businesses and complete its value chain by transitioning into a petro-refinery, its CEO said Monday.
