(Reuters) – The Trump administration on Thursday finalized its rollback of Biden-era limits on oil and gas drilling in an Alaska area that is the nation’s largest tract of undisturbed public land. The move is consistent with President Donald Trump’s goal to reduce restrictions on domestic oil and gas development, particularly in resource-rich Alaska. Biden’s … Read more

(Reuters) – Goldman Sachs expects global oil demand to grow to 113 million barrels per day in 2040 from 103.5 mbpd in 2024, driven by rising energy needs and ongoing challenges in low-carbon technology and infrastructure, the Wall Street bank said on Thursday. “We expect solid annual average demand growth of 0.9 mbpd in 2025-2030, … Read more

(Reuters) – U.S. oil production is expected to set a larger record this year than previously forecast, even as global oil supply outpaces fuel demand, the Energy Information Administration said in its Short-Term Energy Outlook report on Wednesday. The Department of Energy’s statistical arm expects U.S. oil output to average 13.6 million barrels per day … Read more

(Reuters) – Oil prices fell 1% on Wednesday, weighed down by oversupply in the market despite expectations that an end to the longest-ever U.S. government shutdown could boost oil demand. Brent crude futures slipped 66 cents, or 1%, to $64.50 a barrel by 1232 GMT after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude was down … Read more

(Reuters) – Oil prices rose on Tuesday due to the impact of the latest U.S. sanctions on Russian oil, although oversupply concerns limited gains. Brent crude futures were up 67 cents, or 1.1%, to $64.73 a barrel at 1333 GMT. U.S. West Texas Intermediate crude was at $60.78 a barrel, up 65 cents, or 1.1%. … Read more

Summary Chevron to provide guidance through end of this decade Oil firm has opportunities for growth after Hess Investors eye updates on Kazakhstan talks and new power ventures Reuters) – When Chevron  executives and top shareholders convene in New York City on Wednesday for the oil producer’s investor day, portfolio managers will be eager to hear … Read more

The Trump administration will hold an auction for drilling oil and gas off the U.S. Gulf next month and has proposed another in a waterway in southern Alaska, it said on Friday. The lease sale in the U.S. Gulf of Mexico, which President Donald Trump refers to as the Gulf of America, will make about … Read more

Summary US Senate advances bill to end federal shutdown Flight delays, cancellations in the US accelerate Oversupply concerns persist as crude inventories rise LONDON, Nov 10 (Reuters) – Oil prices were steady on Monday as investors assessed a potential end to the U.S. government shutdown and concerns around oversupply in the crude market. Brent crude … Read more

By Alastair Marsh Offshore oil and gas platforms. Photographer: Tim Rue/Bloomberg HSBC Holdings Plc is expecting oil and gas deals to make up a smaller part of its energy portfolio, as renewables look to be the preferred way to feed data centers powering artificial intelligence. Finance for fossil fuels will likely rise in absolute terms, … Read more

Summary U.S. crude stocks rose more than expected last week Private reports suggest U.S. labour market weakened in October Gunvor withdraws proposal to buy Lukoil’s overseas assets (Reuters) – Oil prices rose on Friday but remained on track for a second consecutive weekly loss after three days of declines on worries about excess supply and … Read more

(Reuters) – Oil prices regained a little ground on Thursday, buoyed by easing concerns over a potential supply glut as sanctions on Russian companies begin to bite. Having closed the previous session at two-week lows, Brent crude futures gained 35 cents, or 0.6%, to $63.87 a barrel by 1120 GMT while U.S. West Texas Intermediate … Read more

(Reuters) – U.S. field production of crude oil rose to a record high for a second week in a row last week, the U.S. Energy Information Administration (EIA) said in its weekly Petroleum Status Report on Wednesday. EIA said output reached 13.651 million barrels per day (bpd) during the week ended October 31, topping the … Read more

 Activist investor Kimmeridge on Tuesday called on Coterra Energy to overhaul its leadership and strategy, saying the 2021 merger of Cabot Oil & Gas and Cimarex Energy has failed to deliver value and left it trading at a discount to its peers. In an open letter, the private investment firm urged the board to appoint … Read more

Summary Weaker data in the US, China fuel demand concerns Russia suspends fuel exports at Black Sea refinery US dollar index holds at three-month high (Reuters) – Oil prices were steady on Wednesday as investors digested weaker economic data from top oil importers while U.S. inventory data provided some support. Brent crude futures were down … Read more

Top Western oil companies are enjoying a windfall from the expanding attacks on Russia’s oil industry – both literal and economic – that have boosted global refining profit margins and mitigated concerns over a looming supply glut.Waves of Ukrainian drone strikes on Russia’s vast network of refineries and export terminals since July have hammered the … Read more

(Reuters) – Oil prices fell over 1% on Tuesday as OPEC+’s decision to pause output hikes in the first quarter next year along with weak manufacturing data and a stronger dollar weighed on the market. Brent crude futures fell 90 cents, or 1.4%, to $63.99 a barrel by 1056 GMT. U.S. West Texas Intermediate crude … Read more

Summary OPEC+ agrees to small output increase in December Plans to pause production increases in the new year Russia’s Tuapse port hit by Ukraine drone attack Supply outlook and Asian factory data weigh on prices (Reuters) – Oil prices were little changed despite news that OPEC+ plans to end its supply increases, with the market … Read more

By Erwin Seba Trump issues denial on social media that U.S. plans to attack Venezuela News media reports say U.S. plans air strikes on Venezuela Brent, WTI set to fall about 2.6% and 2% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say HOUSTON, Oct 31 (Reuters) – Oil prices … Read more

Summary Exxon raises dividend by 4% to $1.03 per share Company on track to complete $20 billion share buyback this year Exxon incurs $510 million in restructuring costs in Q3 (Reuters) – Exxon Mobil  beat Wall Street estimates for third-quarter earnings on Friday, underpinned by higher oil and gas production in Guyana and the Permian Basin, … Read more

Summary Brent, WTI set to fall about 3.5% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say Saudi prices for Asian buyers might fall in Dec. -sources China factory activity shrinks for seventh month, PMI shows (Reuters) – Oil prices were heading for a third consecutive monthly decline, slipping on … Read more

U.S. President Donald Trump said on Thursday that China has agreed to begin the process of purchasing U.S. energy. “In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to … Read more

Summary Trump to reduce China tariffs after meeting with Xi OPEC+ likely to add another 137,000 bpd supply in December US crude and fuel inventories register large declines LONDON, Oct 30 (Reuters) – Oil prices eased on Thursday as investors assessed a potential trade truce between the United States and China, as President Donald Trump lowered tariffs on China … Read more