Iraq does not expect OPEC+ to make further cuts to oil output at its next meeting in June, its oil minister Hayan Abdel-Ghani said, in the first indication from an OPEC minister about a potential decision as oil prices slide
Equinor and its partners have decided to invest about $9 billion to develop the BM-C-33 gas and condensate discovery off Brazil, the Norwegian company said
U.S. crude oil inventories fell for a third week in a row, while gasoline stockpiles unexpectedly rose last week as demand weakened, the Energy Information Administration said
LONDON, May 2 (Reuters) – OPEC oil output fell in April due to a halt in some of Iraq’s exports and delays to Nigerian shipments, a Reuters survey stated, adding to the impact of strong adherence by top producers to a supply cut deal by the wider OPEC+ alliance
As oil markets remain jittery, the cargo seizure is the latest escalation between Washington and Tehran after years of sanctions pressure by the U.S. over Iran’s nuclear program
Oil prices will pick up pace towards $90 a barrel over the course of this year as production cuts by OPEC+ and rebounding China demand shield against a deteriorating economic backdrop in the West, a Reuters poll showed.
Russian Deputy Prime Alexander Novak said that OPEC+ group of leading oil producers does not see the need for further oil output cuts despite lower-than-expected Chinese demand, though the organisation is always able to tweak its policy
Kazakh oil can help ensure the Czech Republic’s energy security after it stopped importing Russian crude, Czech Prime Minister Petr Fiala said on a visit to the Central Asian country
Russia’s oil output this year is on course to top 480 million tonnes, or about 9.6 million barrels per day (bpd), a Russian government source said. The figure, which excludes gas condensate, is in line with Russia’s pledge to cut production by 500,000 bpd to 9.5 million bpd from March until year-end
The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow’s revenues
