(Reuters) – Exxon Mobil said on Monday changes in crude oil prices over the third quarter could impact the company’s upstream earnings from negative $100 million to as much as a positive $300 million. The company also signaled in a regulatory filing that stronger margins in the refining business could boost earnings by $300 million … Read more

By Arathy Somasekhar OPEC+ could further boost output in November, sources say Analysts predict oil market surplus in fourth quarter and beyond Chevron refinery fire unlikely to affect broader market HOUSTON, Oct 3 (Reuters) – Oil prices settled higher on Friday but posted a weekly loss of 8.1% after news of potential increases to OPEC+ … Read more

(Reuters) – Exports of U.S. crude oil climbed to the highest level in over a year and a half in September, ship tracking data showed, as U.S. refineries began seasonal maintenance and Asian demand increased. U.S. crude exports rose to an average of 4.2 million barrels per day in September, the highest since February 2024, … Read more

Summary OPEC+ could further boost output in November, sources say Analysts predict oil market surplus in fourth quarter and beyond Chevron refinery fire unlikely to affect broader market LONDON, Oct 3 (Reuters) – Oil prices were stable on Friday but remained on course for a weekly loss of about 7-8% after news of potential increases … Read more

(Reuters) – Cenovus will shut several units at its 160,000-bpd refinery in Toledo, Ohio next week for a month of planned maintenance, a source familiar with the matter said on Wednesday. The planned work is expected to start on October 6. Cenovus did not immediately respond to Reuters’ request for comment. Reporting by Nicole Jao

Summary Brent, WTI extend falls, Brent traded earlier at the lowest level since June Expectations of OPEC+ output increase weighs on market US to give Ukraine intelligence for strikes on Russian energy infrastructure, officials say (Reuters) – Oil prices edged lower on Thursday, extending a run of declines into a fourth day due to concerns … Read more

Macquarie has lowered its West Texas Intermediate (WTI) crude oil price forecasts for 2025 and 2026, citing a heavily oversupplied market and heightened uncertainty stemming from recent policy decisions under U.S. President Donald Trump’s administration. The bank in a note on Tuesday said it now expects WTI to average $64 per barrel in 2025, down … Read more

Summary OPEC+ may raise output by up to 500,000 bpd in November, sources say US crude stocks down 3.67 million barrels last week – API US EIA stocks data to be released as usual despite shutdown (Reuters) – Oil prices steadied on Wednesday after falling for two days as investors weighed OPEC+ plans for a … Read more

Yemen’s Houthis will target U.S. oil majors including Exxon Mobil and Chevron despite an earlier truce agreed with President Donald Trump’s administration to not attack U.S.-linked ships sailing in the Red Sea and the wider Gulf of Aden, the Iran-backed militia said on Tuesday. The Sanaa-based Humanitarian Operations Coordination Center (HOCC), which liaises between Houthi forces and … Read more

U.S. crude oil production rose to a fresh monthly high of 13.64 million barrels per day in July, up 109,000 bpd from the previous record in June, data from the Energy Information Administration showed on Tuesday. Oil output from top-producing state Texas rose to 5.8 million bpd in July, the highest since October 2024, while … Read more

Summary Ukraine attacks dent Russian refining capacity Some Russian regions face fuel shortages Iraq’s Kurdistan to resume oil flows to Turkey Brent and WTI benchmarks set for strong weekly gains (Reuters) – Oil prices rose on Friday as Ukraine’s drone attacks on Russia’s energy infrastructure cut the country’s fuel exports. Brent futures settled at $70.13 … Read more

By Erwin Seba Ukraine attacks dent Russian refining capacity Some Russian regions face fuel shortages Iraq’s Kurdistan to resume oil flows to Turkey Brent and WTI benchmarks set for strong weekly gains HOUSTON, Sept 26 (Reuters) – Oil prices rose on Friday as Ukraine’s drone attacks on Russia’s energy infrastructure cut the country’s fuel exports. … Read more

(Reuters) – U.S. trade negotiators have told their Indian counterparts that curbing purchases of Russian oil is crucial to reducing India’s tariff rate and sealing a trade deal, two people familiar with the talks told Reuters. While trade negotiations are on a positive track, a U.S. official said, more work is needed to ensure India … Read more

Summary Ukraine attacks dent Russian refining capacity Some Russian regions face fuel shortages Iraq’s Kurdistan to resume oil flows to Turkey Brent and WTI benchmarks set for 4% weekly gains (Reuters) – Oil prices edged up on Friday, on track for a more than 4% weekly gain, as Ukraine’s attacks on Russia’s energy infrastructure prompted … Read more

By Ellen Milligan and Kate Sullivan US President Donald Trump scolded the UK for its green-energy push in a roughly hour-long speech at the United Nations in which he criticized many of America’s closest allies. Trump, who visited the UK for a state visit just last week, denounced Prime Minister Keir Starmer’s attempt to diversify … Read more

Summary Price drops likely due to profit-taking, analysts say Supply-demand concerns back in focus for fourth quarter Geopolitical concerns key upside driver for recent gains, analyst says (Reuters) – Oil prices edged down on Thursday, retreating from the previous session’s seven-week high, as some investors took profits after U.S. stocks closed lower and in anticipation … Read more

By Scott Disavino Surprise drop in US crude inventories boosts oil prices Ukraine strikes Russian oil stations, raising supply concerns Iran says crude sales to China should continue irrespective of UN sanctions snap-back NEW YORK, Sept 24 (Reuters) – Oil prices climbed about 3% to a seven-week high on Wednesday as a surprise drop in … Read more

Summary Kurdistan, Chevron export issues supporting oil prices API data shows U.S. crude and gasoline stocks fell last week Iran says crude sales to China should continue irrespective of UN sanctions snap-back (Reuters) – Oil prices rose on Wednesday as an industry report showed U.S. crude inventories declined last week, adding to a sense in … Read more

(Reuters) – U.S. oil major Chevron is only able to export about half the crude its joint ventures produce in Venezuela with the latest rules laid out by Washington, three sources close to the matter said. The Treasury Department in late July issued a restricted authorization allowing Chevron to operate in the sanctioned country and … Read more

(Reuters) – U.S. President Donald Trump said on Tuesday he plans to call Hungarian Prime Minister Viktor Orbán to urge him to stop purchasing Russian oil, part of a broader push to pressure NATO allies to cut energy ties with Moscow. “He’s a friend of mine. I have not spoken to him, but I have … Read more

The arbitrage window to ship U.S. West Texas Intermediate crude to Asia has narrowed as tanker freight rates surge, while strong export demand pushes up premiums for the grade to multi-month highs, trade sources said on Tuesday. The U.S.-Asia arbitrage, which opened in late July, spurred demand for Very Large Crude Carriers (VLCCs) to embark … Read more

Summary Iraq, KRG agree to resume about 230,000 bpd crude exports via Turkey Global oil market faces elevated supply, slowing demand US crude stocks expected to rise, gasoline inventories to fall Oil prices edged higher on Tuesday even as investors weighed the global supply outlook after Iraq and Kurdish regional governments reached a preliminary agreement … Read more

(Reuters) – A group of Republican and Democratic U.S. senators introduced legislation on Friday that would expand sanctions against Russian energy, specifically by targeting a collection of older oil tankers the lawmakers say are used to dodge existing U.S. energy sanctions. The “Sanctioning Harbors and Dodgers of Western Sanctions,” or SHADOW Fleets Act comes as President Donald Trump has … Read more

Summary Estonia accuses Russia of violating its air space Four Western nations recognise Palestinian state Iraq increases oil exports after OPEC+ relaxes quota (Reuters) – Oil prices were little changed on Monday as concerns over Russia and the Middle East were countered by oversupply jitters. Brent crude oil futures , which have traded between around … Read more

Summary Large oil supplies, declining demand push prices lower Refinery turnaround season will also cut demand for crude Benchmarks gain for a second straight week (Reuters) – Oil prices dropped on Friday as worries about large supplies and declining demand outweighed expectations that the year’s first interest-rate cut by the U.S. Federal Reserve would trigger … Read more

By Ron Bousso Chinese oil storage increasingly vital for market, but data is obscure IEA, OPEC offer widely divergent estimates for oil demand growth Growing sanctions-busting fleet of tankers complicates oil tracking LONDON, Sept 18 (Reuters) – Growing blind spots in the oil market driven by geopolitics are making it harder to determine the true … Read more

Summary High distillate stockpiles add to concerns over demand Market caught between conflicting signals, says analyst Benchmarks remain on track for second straight weekly gain EU will propose ban on Russian LNG by 2027, sources say (Reuters) – Oil prices dropped on Friday as worries over fuel demand outweighed expectations that the year’s first interest … Read more

U.S. oil major Exxon Mobil has no plans to resume operations in Russia, Chief Executive Darren Woods told the Financial Times in an interview on Thursday. The company pulled out of Russia in 2022 after Western sanctions were imposed over Moscow’s invasion of Ukraine, writing off billions of dollars from its exit. Exxon executives are … Read more

Summary Brent, WTI oscillated between gains and losses in European trading Fed chair highlighted concerns about job market Market concerned by rising supply, US demand concerns (Reuters) – Oil prices edged higher on Thursday after the Federal Reserve cut interest rates as traders weighed the start of looser monetary policy against concerns about the U.S. … Read more