×

Oil and Gas Oil and Gas Refining

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...

  • *Hopes of OPEC supply cuts lift crude for second day. The International Energy Agency said that while it was "far too soon" to gauge OPEC members' compliance with promised cuts, commercial oil inventories in the developed world fell for a fourth consecutive month in November, with another decline projected for December. China's December refinery runs were up 3.7...

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices edged higher on Thursday, but swelling U.S. crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far too soon"...

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices edged higher on Thursday, but swelling U.S. crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far too soon"...

  • NEW YORK, Jan 19- U.S. crude inventories rose unexpectedly last week as refineries sharply slowed production, while gasoline stocks soared amid weak demand, the Energy Information Administration said on Thursday. U.S. crude and Brent tumbled to session lows of $51.24 and $54.05 per barrel respectively after the data. Refinery runs dropped precipitously amid...

  • *Rising U.S. shale output to balance OPEC, non- OPEC cuts. NEW YORK, Jan 19- Oil prices rose on Thursday, but swelling crude stockpiles in the United States limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect. The IEA said that while it was "far...

  • DUBAI, Jan 19- Saudi Arabia's crude oil exports in November rose to 8.258 million barrels per day from 7.636 million bpd in October, official data showed on Thursday. But Riyadh led OPEC and other rival producers in December to reach their first deal since 2001 to curtail oil output and ease a global glut which had strained many producers' budgets.

  • BREGA, Libya, Jan 19- Guards and officials at major ports in Libya's eastern Oil Crescent say they are hoping foreign workers will soon return as they struggle to build on output gains with meagre resources. The lifting of a long blockade at the ports helped Libya's oil output to more than double to over 600,000 barrels per day. Recent and future gains threaten to...

  • NEW YORK, Jan 18- Axeon Specialty Products plans on shutting down its 75,000 barrel-per-day asphalt refinery in Paulsboro, New Jersey, as early as this summer, according to a local politician and sources familiar with the company's plans. Axeon is owned by New York- based hedge fund Lindsay Goldberg. Neither Axeon nor Lindsay Goldberg responded to requests for...

  • *OPEC pumps 221,000 bpd less in Dec than in Nov. LONDON, Jan 18- Oil prices fell on Wednesday on expectations that U.S. producers would boost output, while OPEC signalled a drop in the global oil supply surplus this year as the producer group's output fell back from a record high. Brent crude futures, the international benchmark for oil prices, were down $1.05 at $54.42...

  • BEIRUT, Jan 18- Iran and China will sign a $3 billion contract next month to upgrade Iran's oil refining capacity, according to Iran's Mehr News agency. Iran's deputy oil minister Abbas Kazemi said in Tehran on Tuesday that the deal will focus on upgrading the Abadan oil refinery, Mehr said. The deal is expected to be signed when a delegation of Chinese oil officials...

  • *OPEC pumps 221,000 bpd less in Dec than in Nov. LONDON, Jan 18- Oil prices fell on Wednesday on expectations that U.S. producers would boost output, just as OPEC signaled that a global supply-reduction deal will shrink the oil glut this year. Brent crude futures, the international benchmark for oil prices, were down 75 cents $54.72 a barrel at 1230 GMT.

  • LONDON, Jan 18- Oil prices fell on Wednesday on expectations that U.S. producers would boost output. Brent crude futures, the international benchmark for oil prices, were down 82 cents $54.65 a barrel at 1008 GMT. Representative Ryan Zinke of Montana, President-elect Donald Trump's nominee for interior secretary, on Tuesday said he would consider an expansion of...

  • SINGAPORE, Jan 18- Oil prices rose on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output. West Texas Intermediate crude oil futures were trading up 22 cents at $52.70 per barrel at 0742 GMT. "U.S. oil has been supported by considerable weakening in the U.S. dollar over the last 24...

  • SINGAPORE, Jan 18- Oil prices rose on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output. West Texas Intermediate crude oil futures were trading up 17 cents at $52.65 per barrel at 0448 GMT. Brent crude futures, the international benchmark for oil prices, were up 17 cents...

  • SINGAPORE, Jan 18- Oil prices edged higher on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output. West Texas Intermediate crude oil futures were trading up 16 cents at $52.64 per barrel at 0214 GMT. "A combination of a weaker U.S. dollar and supportive comments from Saudi...

  • *Rising U.S. production seen offsetting OPEC cuts. LONDON, Jan 17- Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Brent crude futures, the international benchmark for oil prices, were up 76 cents at $56.52 a barrel by 1451 GMT, having risen earlier by more than $1 to a session high...

  • *Rising U.S. production seen offsetting OPEC cuts. LONDON, Jan 17- Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Brent crude futures, the international benchmark for oil prices, were up 66 cents at $56.52 a barrel by 1304 GMT.

  • *Rising U.S. production seen offsetting OPEC cuts. LONDON, Jan 17- Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Brent crude futures, the international benchmark for oil prices, were up 77 cents at $56.63 per barrel at 1020 GMT.

  • *Refinery outages hit crude demand just as OPEC cuts production. The higher Asian refining margins have beat back concerns that profits would fall as crude oil prices gained as the Organization of the Petroleum Exporting Countries and non- OPEC producers began to implement their agreed production cuts from January to reduce global oversupply.