Oil

Latest news from the commodity market. Updates on commodity trading, prices and futures news.

Oil

opec

March 28, 2017

Goldman Sachs said an extension of the joint OPEC and non-OPEC oil production cut is not warranted unless supply and demand fundamentals deteriorate. (more…)
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Taylor-Vitol

March 27, 2017

Vitol's annual traded volumes rose 16 percent in 2016 to a new record as the world's largest independent energy trader sold more gasoline and diesel...
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pacific terminal

March 23, 2017

Royal Dutch Shell agreed to lease capacity at a large oil terminal in Panama that has been used by U.S. refiner Tesoro Corp , sources...
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Goldman Sachs

March 22, 2017

New production projects and a fresh shale boom could boost oil output by a million barrels per year and result in an oversupply in the...
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OPEc

March 21, 2017

OPEC oil producers increasingly favour extending beyond June a pact on reducing crude supply to balance the market, sources within the group said, although Russia...
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Workers move along an access way above the giant supporting legs of the Oseberg A offshore gas platform operated by Statoil ASA in the Oseberg North Sea oil field 140kms from Bergen, Norway, on Friday, Jan. 17, 2014. Statoil, Norway's biggest energy company, sees the potential to keep domestic oil and gas output at today's levels until 2025 and possibly beyond even as it tightens spending amid rising costs. Photographer: Kristian Helgesen/Bloomberg via Getty Images

March 21, 2017

Oil fell as a U.S. drilling revival undermines the potential for OPEC output curbs to rebalance the market. (more…)
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Malta-flagged Iranian crude oil supertanker "Delvar" is seen anchored off Singapore in this March 1, 2012 file photo. The United States expects countries that buy oil from Iran to further reduce their purchases if they want to avoid U.S. sanctions, a State Department source said on December 5, 2012.  REUTERS/Tim Chong (SINGAPORE - Tags: BUSINESS POLITICS ENERGY MARITIME)

March 16, 2017

PetroChina International has bought crude oil from the US Strategic Petroleum Reserve — the first such purchase by a Chinese company — in a move...
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iea

March 16, 2017

The price of oil has been stuck in a narrow range since the conclusion in mid-December of the OPEC/non-OPEC production accords. (more…)
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opec

March 14, 2017

Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil...
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Maersk Offshore

March 8, 2017

Oil and shipping conglomerate A.P Moller-Maersk could land a deal with the Danish government on oil and gas operations in the North Sea within days,...
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iea

March 7, 2017

Global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according...
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Venezuela_oil

March 6, 2017

Venezuela’s oil production is poised for a significant decline in the months ahead—and that has nothing to do with its pledge to cut output as...
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libya

March 6, 2017

Libya halted exports from its two of biggest oil ports and reduced production from some fields after clashes threatened to reverse the North African country’s...
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OPEC-OPEK

March 3, 2017

Saudi Arabia continued to lead OPEC’s efforts to cut production, helping the organization get closer to a goal set out in a historic accord last...
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oil

March 2, 2017

Russian oil production fell in February to around 11.10 million barrels per day (bpd), from over 11.2 million bpd in October, two sources familiar with...
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