Browsing: oil

Saudi Arabia accounted for 16% of supplies, Iraq accounted for 11%, while Malaysia accounted for almost 11% of deliveries to China

LONDON: The Organization of the Petroleum Exporting Countries on Thursday predicted robust fuel use in the summer months and stuck to its forecast for relatively strong growth in global oil demand in 2024, while saying there was a chance the world economy could do better than expected this year, according to Reuters.

SINGAPORE: Oil prices ticked up during trade on Thursday, after rising a dollar a barrel in the prior session, as investors braced for a worsening of the Middle East crisis, potentially involving Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries.

The Russian Energy Ministry noted stability of the situation with domestic fuel provision with fuel during the meeting

Saudi Aramco set the OSP for Asian buyers at a $2.00 premium to the Oman/Dubai average, up by 30 cents from the April price

SINGAPORE: Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply and optimism about global fuel demand growth as economies improve, according to Reuters.

An Abu Dhabi-based alternate investment fund has bought a 40 percent stake in ADNOC’s oil pipeline network from BlackRock Inc. and KKR & Co.

The new LNG shipment is scheduled to be routed via an already established facility in Jordan, the traders highlighted

SINGAPORE: Oil prices steadied on Wednesday as investors eyed concerns around crude and fuel supplies, following Ukrainian attacks on Russian refineries and the potential for a widening of the Israel-Hamas war to more directly include Iran.

BENGALURU: Global road oil demand will rise 5 percent to a peak of 50 million barrels per day by 2032, Goldman Sachs forecasts, with oil use per vehicle likely to fall sharply because electric vehicles are expected to account for more than half of auto sales by 2040, according to Reuters.