- — Oil sheds more than $1/barrel after Iran attack
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at 4/15/24 3:00pmOil prices sank by about $1 a barrel on Monday after Irans weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could displace crude barrels. Brent futures for June delivery fell $1.15, or about 1.3%, to $89.30 a barrel by 11:23 a.m. EDT (1523 GMT) ...- — Oil demand growing at a slower pace as post-Covid rebound runs its course
- at 4/15/24 3:00pmGlobal oil demand growth returns to historical trend Global oil demand growth is currently in the midst of a slowdown and is expected to ease to 1.2 million barrels a day (mb/d) this year and 1.1 mb/d in 2025 – bringing a peak in consumption into view this decade. This is primarily the result of ...
- — EU: Oil import dependency at its highest in 2022
- at 4/15/24 3:00pmThe EU’s import dependency for the entire family of crude oil and petroleum products surged to a new record high of 97.7% in 2022. This increase came after a significant decline in import dependency in 2021 to 91.6%. The import dependency recorded in 2022 resulted from a combination of changes in net imports (+9.5%), with ...
- — OPEC+ keeps wary eye on potential Israeli response to Iranian air strikes
- at 4/15/24 3:00pmCrude prices have risen for the past several weeks as production cuts by OPEC and its allies have taken root and tightened market balances. Now, Israels potential response to Irans barrage of drones and missiles almost all of them intercepted could upset the producer groups hard-won gains, as it braces for any escalation ...
- — Oil and gas sector witnesses 22% rise in job hiring in March this year: Report
- at 4/15/24 3:00pmThe white-collar hiring witnessed an 11% correction in March 2024 as compared to the same period last year. According to the Naukri JobSpeak Index, hiring last month stood at 2,657 across all sectors. However, the recruitment in Oil and Gas sector rose to 22% with maximum demand for MEP and Electrical engineers. The hiring in ...
- — Middle East Crude-Dubai, Murban edge down; Qatari tenders eyed
- at 4/15/24 11:00amMiddle East crude benchmarks Dubai and Murban edged down on Monday amid selling pressure by PetroChina on Platts window. QatarEnergy is expected to close on Tuesday its monthly tenders to sell two cargoes of al-Shaheen crude and one cargo each of Qatar Land and Marine crude for June loading. RUSSIAN CRUDE State-run China National Offshore ...
- — Prices edge higher following Iranian drone attack on Israel
- at 4/15/24 7:00amCrude futures opened with a brief spike April 14 following news of an Iranian drone attack on Israel, but quickly slipped back to unchanged territory as the attacks were widely expected heading into the weekend. NYMEX front-month crude rose 45 cents to $86.11/b, while ICE front-month Brent was up 60 cents at $91.05/b. However, the ...
- — IEA downgrades oil demand growth forecast as prices heat up on elevated Middle East tensions
- at 4/15/24 7:00amThe International Energy Agency on Friday downgraded its forecast for 2024 oil demand growth, citing “exceptionally weak” OECD deliveries, a largely complete post-Covid-19 rebound and an expanding electric vehicle fleet. In its latest monthly oil market report, the IEA said it had revised down its 2024 oil demand growth forecast by around 100,000 barrels per ...
- — Why the transition needs smart upstream taxes
- at 4/15/24 7:00amHow can a government simultaneously manage its declining upstream sector, build a low-carbon energy system and balance the Treasury’s books? It’s a transition challenge many oil-producing governments face. Graham Kellas, Gail Anderson and James Reid, of our North Sea and fiscal teams, assess the UK’s moving fiscal feast and argue for a smart tax system ...
- — New Libyan oil minister expected to unfreeze key projects, but political risks remain
- at 4/15/24 7:00amThe suspension of Libyan Oil Minister Mohamed Aoun and the appointment of his well-connected deputy could unblock major hydrocarbons projects, but also demonstrates the oil and gas sectors vulnerability to the countrys chronic political instability, analysts said. Aoun was suspended March 25 by the Administrative Control Agency, a government oversight body, due to legal violations ...
- — Oil slips as risk premium eases after Iran attack
- at 4/15/24 3:00amOil prices slipped by about 1% on Monday, with the market downplaying the risk of broader regional conflagration after Irans weekend attack on Israel. Brent futures for June delivery fell 99 cents, or about 1%, to $89.46 a barrel by 0933 GMT while West Texas Intermediate (WTI) futures for May delivery were down $1.05, or ...
- — Iran drone attack on Israel raises regional concerns for oil market
- at 4/15/24 3:00amIran launched a barrage of drones at Israel, officials said April 13, in a significant escalation of tensions in the oil and gas rich Middle East, after earlier impounding an Israeli-linked cargo vessel near the Strait of Hormuz. A direct Iranian attack on Israel is very alarming, especially for the oil market, said Jim Burkhard, ...
- — OPEC lowers forecasts for non-OPEC supply growth in 2024, 2025
- at 4/15/24 3:00amOPEC indicated April 11 that it is more optimistic on the challenge of mitigating non-OPEC supply growth in the coming months, with downward revisions to expected production growth outside the bloc in 2024 and 2025. A recent price rally has eased some pressure on the group, which continues to implement major supply cuts, despite the ...
- — Oil seen opening up after Iran’s attack on Israel, but further gains may depend on response
- at 4/14/24 3:00pmOil prices are expected to rise on Monday after Irans attack on Israel over the weekend, analysts said on Sunday, but further gains may depend on how Israel and the West choose to retaliate. Iran launched explosive drones and missiles at Israel late on Saturday in retaliation for a suspected Israeli attack on its consulate ...
- — OPEC: Global oil demand in summer months of 2024
- at 4/14/24 3:00pmIn 2024, global oil demand is expected to grow by a healthy 2.2 mb/d, y-o-y, led by robust demand fromnon-OECD regions, mainly China, Middle East and Other Asia. On a quarterly basis, global oil demand isexpected to grow by around 2.0 mb/d, y-o-y, in 1Q24, 2.2 mb/d y-o-y in 2Q24, 2.7 mb/d y-o-y in 3Q24 ...
- — IEA cuts 2024 oil demand growth estimate to 1.2 mil b/d, eyes 1.1 mil b/d in 2025
- at 4/14/24 3:00pmThe International Energy Agency on April 12 cut its estimate of 2024 oil demand growth to 1.2 million b/d from 1.3 million b/d citing exceptionally weak first quarter deliveries in the OECD and reduced consumption by vehicles, and forecast growth of 1.1 million b/d in 2025. It also cut its estimate of growth in refinery ...
- — Oil and gas activity in US Midwest, Rockies fell in Q1, Kansas Fed says
- at 4/14/24 3:00pmOil and gas energy activity in Oklahoma, Colorado and the northern part of New Mexico fell in the first quarter of 2024, the Federal Reserve Bank of Kansas Citysaid on Friday in its quarterly survey of energy activity. Drilling and business activity contracted for a fifth straight quarter and will likely continue to fall over ...
- — North Sea Crude-WTI holds steady, Johan Sverdrup firms
- at 4/14/24 3:00pmU.S. WTI Midland crude differentials held steady on Friday as selling interest surfaced only above previous trade levels, while Johan Sverdrup was bid higher. PLATTS WINDOW * Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP). * WTI Midland: Macquarie offered a May 12-16 ...
- — W. Africa Crude-Trading muted during Eid holiday
- at 4/14/24 3:00pmTrading was muted on Friday during the Eid Islamic holiday and after no public buy tenders emerged this week. * More than half of Angolas May-loading cargoes remain unsold, despite increased global demand for heavier crude. * Medium and heavy crude are seeing a boost due to reduced exports from Mexico. * Angolan Dalia was ...
- — North Dakota’s rig count drops as consolidation sweeps oil patch
- at 4/14/24 3:00pmOperators in North Dakotas Bakken oilfield reduced their rig count to 36 in April, down from 40 in March, marking the lowest number this year as a wave of consolidation has swept through the oil patch, state regulators said on Friday. Their drilling budgets are disrupted especially if both are active in the Bakken. They ...
- — US Cash Crude-Grades mixed as both refinery demand and rig count fall
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at 4/14/24 3:00pmDomestic physical U.S. grades pulled in different directions on Friday, dealers said, after losses were partially curbed as refining capacity fell at the same time as the rig count also dropped. U.S. oil refiners are expected to have about 1.4 million barrels per day (bpd) of capacity offline for the week ending April 12, decreasing ...
As of 4/16/24 1:59am. Last new 4/15/24 4:37pm.
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