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million barrels


KUALA LUMPUR (March 7): Hibiscus Petroleum Bhd rose 12 sen or 9.68% to RM1.36 amid active trading on Monday morning as an analyst forecast high oil prices will boost its earnings. At the midday break, the stock stood at RM1.35, still up 11 sen or 8.87%. The counter, which was the most actively traded stock …

MANILA, Philippines — Energy Secretary Alfonso Cusi said on Wednesday rising pump prices in the country would be hit harder if the war between Ukraine and Russia escalates further. Even though the country has ample supply, Cusi encouraged the public to save on petroleum products for the time being. “If the war [between Ukraine and …

President Joe Biden and Democratic lawmakers are considering a federal gasoline tax exemption as prices soar to record highs and the party faces an uphill battle in November’s midterm elections. Two of the most vulnerable Democratic senators in 2022 — Mark Kelly of Arizona and Maggie Hassan of New Hampshire — have proposed a bill …

The group released its latest monthly report on Friday, revising its historic oil demand figures since 2007. Yes, it’s true, over the past 15 years the world has used more oil than the leading agency thought. watchdog that advises consumer governments. . The story continues under the ad The changes are not small. At 2.9 …

Crude oil storage tanks are seen in an aerial photograph of the Cushing Oil Hub in Cushing, Oklahoma, U.S., April 21, 2020. REUTERS/Drone Base Join now for FREE unlimited access to Reuters.com Register Iran nuclear talks resume Tuesday in Vienna US production expected to reach 12 million bpd in 2022 – EIA Macron calls for …

Oil prices are expected to maintain a steady uptrend this year as Omicron is unlikely to cause a massive drop in demand for crude, while supply concerns will support prices in the near term, according to the experts. Crude prices, which rose nearly 60% in 2021, edged up in the first trading week of this …

Oil tankers are seen parked in a yard outside a fuel depot on the outskirts of Calcutta on February 3, 2015. REUTERS / Rupak De Chowdhuri / File Photo Register now for FREE and unlimited access to Reuters.com Register LONDON, Jan. 7 (Reuters) – Oil prices rose and were heading for their biggest weekly increases …

An aerial view shows an Idemitsu Kosan Co. oil plant in Ichihara, east of Tokyo, Japan, Nov. 12, 2021, in this photo taken by Kyodo. Photo taken on November 12, 2021. Mandatory Credit Kyodo / via REUTERS EDITORS ATTENTION – THIS IMAGE HAS BEEN PROVIDED BY A THIRD PARTY. MANDATORY CREDIT. JAPAN OUTSIDE. NO COMMERCIAL …

White House officials attempted a small victory as millions hit the road for the holidays this week, touting small drops in gasoline prices even though costs at the pump are still much higher than at the same time last year. “As people leave for Christmas weekend, gasoline prices continue to drop – down 25 cents …

Strong points OPEC + quotas, drilling programs to increase production capacity Production could increase by nearly 500,000 bpd by June to November 2021 levels Omicron, sanctions and releases of strategic reserves could affect production Russian oil production is expected to increase in 2022, although factors such as the coronavirus pandemic and the release of strategic …

A sticker shows crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. Photo taken November 22, 2019. REUTERS / Angus Mordant / File Photo Register now for FREE and unlimited access to reuters.com Register US crude inventories drop more than expected, demand …

New Delhi: The price of gasoline has been a major topic of discussion in India for some time now. Especially after prices hit the 100 rupee mark in June 2021. Supply chain bottlenecks as well as bottlenecks affecting the mining and refining sector, oil prices have skyrocketed during the crisis of Covid-19. But did you …

A drop in international crude oil prices over concerns over the Omicron variant of the virus that causes Covid-19 could, if it persists, end up driving down the price of gasoline and diesel for consumers in India, as well. than in other countries. Indian express examines recent developments in crude oil prices and their potential …

But with the demand for crude rising as the impact of the pandemic wears off, that no longer appears to be the case. OPEC +, which brings together the Organization of the Petroleum Exporting Countries and allies like Russia, is once again showing dynamism. The group’s refusal to accede to US President Joe Biden’s calls …

Rep. Ashley Hinson, R-Iowa, gives an overview of Biden’s Build Back Better plan. President Biden Tuesday, described the steps his administration is taking to tackle soaring inflation ahead of the holiday season, saying the various actions will help ease supply chain bottlenecks and reduce rising gas prices. The government recently reported that consumer prices rose …

A worker takes a sample of crude oil from an oil well operated by the Venezuelan state oil company PDVSA in Morichal, Venezuela, July 28, 2011. REUTERS / Carlos Garcia Rawlins Register now for FREE and unlimited access to reuters.com Register now US pushes OPEC + again as it considers release of reserves Japan has …

SINGAPORE: Oil prices were flat Thursday after falling in the previous session amid fears of rising inflation in the United States, spurred by rising energy costs, could prompt the government to release more strategic crude stocks to lower prices. On Wednesday, Brent crude futures fell 2.5% and West Texas Intermediate (WTI) futures fell 3.3% after …

News Ethanol production recedes, stocks climb U.S. ethanol production peeled back from the recent near-record highs last week as stocks grew. The U.S. Energy Information Administration says production averaged 1.039 million barrels a day, down 68,000 on the week, but up 62,000 on the year. Ethanol margins remain firmly in positive territory, but there are …

The Occidental Petroleum logo is displayed on a ground display at the New York Stock Exchange (NYSE) in New York, United States, April 30, 2019. REUTERS / Brendan McDermid HOUSTON, Nov. 4 (Reuters) – Occidental Petroleum Corp (OXY.N) more than doubled third-quarter profit to $ 836 million from the previous three months, the company said …

(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.) In this week’s edition of the successes and failures of the oil and gas industry, regular Rigzone market watchers looked at oil prices, the potential restart of Iranian nuclear …

Global energy supermajor ExxonMobil is one of the few Western energy companies to invest in the development of Guyana’s burgeoning oil industry. Since the first discovery of high-quality oil in 2015 in the 6.6 million acre Stabroek block, where Exxon is the operator and owns a 45% stake, the oil supermajor has experienced incredible success. …

Demand for oil is expected to increase by half a million barrels per day (bpd) as the power sector and heavy industries abandon more expensive sources of energy, the IEA said. Through Reuters | Posted: 26-Oct-21 12:28 PM IST 0 Views See the pictures U.S. shale producers have hesitated to invest in increased production after …

Gasoline and diesel margins rebound globally as COVID-19 restrictions relax World stocks of petroleum products at their lowest since 2014 – FGE Maintenance, high natural gas prices to restrict supply to Q4 Asian crude expected to reach 29.5 million bpd in fourth quarter, up 1.4% year-on-year – FGE Formosa to process 400,000 bpd in November, …

Yet OPEC continues to fail to pump at expected levels: File Image / Pixabay Maybe the demand for energy won’t be so intense after all: that was the sentiment traders had on Monday as we industrial data showing signs of weakness forced them to associate gains, albeit minimally. Intermediate West Texas Rose 16 cents settle …

Pumpjack for oil in the Permian Basin region. Spencer Platt | Getty Images Oil prices rose on Thursday, reversing previous losses, amid expectations that high natural gas prices as winter approaches could lead to a switch to oil to meet heating demand needs. Brent crude futures gained 28 cents, or 0.3%, to $ 83.46 a …

Demand for energy is back today as the global economy reopens, but supply has simply not kept up. This is why US oil prices have climbed $ 120 since falling below $ 40 per barrel in April 2020. US oil prices finished above $ 80 per barrel on Monday for the first time. times in …

New Delhi: Mumbai on Saturday became the first metropolitan city in the country to see diesel prices cross the 100 rupees per liter mark after the further increase in fuel prices. The price of gasoline was increased by 30 paise per liter and that of diesel by 35 paise per liter, according to a price …

The US Department of Energy is revisiting previous comments that it was considering releasing the strategic oil reserve and banning crude oil exports, Bloomberg’s Javier Blas reported on Twitter. According to Blas, the DoE does not plan to operate the SPR “at this time”. The news comes shortly after Goldman Sachs estimated that if the …

Much like the whale oil trade at its peak in the mid-1800s, crude oil prices have likely peaked. According to Cathie Wood, founder and CEO of Ark Investment Management, who spoke of an upcoming spike in crude oil prices due to the arrival of electric vehicles (EVs), in a series of tweets late Thursday. Citing …

Oil has rebounded this year as the vaccine rollout stimulates demand for energy, leading to lower US inventories. Brent oil has climbed above $ 80 a barrel, a sign that demand is exceeding supply, depleting stocks amid the global energy crisis. The main crude benchmark rose for a sixth day to its highest level since …

US West Texas Intermediate and international benchmark Brent crude oil futures ended higher last week amid supply concerns, as global demand continues to improve as pandemic conditions ease. . “The tight supply continues to benefit inventories in all regions,” ANZ Research said in a note. Last week, December WTI crude oil was $ 73.61, up …

ABUJA – Nigeria said it aims to produce 1.88 million barrels per day of crude oil next year and that the budget will be based on the benchmark price of $ 57 per barrel, calling it a production target. ” very conservative “while the country’s economy is struggling. Africa’s most populous country has been hit …

Efforts to keep crude prices around $ 65 for Brent, the international standard, have been complicated by the delta variant of the novel coronavirus COVID-19. “We have relaxed our pricing outlook for the remainder of 2021, thanks to the delta variant,” said Farzin Mou, vice president of intelligence at data analytics firm Enverus and co-author …

The combination of growing demand and tight supply pushed up crude prices for a fifth straight week. West Texas Intermediate on the New York Mercantile Exchange weathered Monday’s $ 1.68 drop to increase the remainder of the trading week, including a $ 1.74 jump on Wednesday. Prices rose 68 cents on Friday to close at …

A worker holds a nozzle to pump gasoline into a vehicle at a gas station in Mumbai, India on May 21, 2018. REUTERS / Francis Mascarenhas / File Photo US crude inventories fall to lowest since October 2018, according to EIA High natgas prices support the rise OPEC + strives to keep prices around $ …

U.S. inventories of the most used crude oil and refined petroleum products have now fallen below 2018 levels, according to energy research service HFI Research. underline. According to data compiled by HFI Research, U.S. inventories of the so-called Big Four (crude oil, gasoline, distillate and jet fuel) are combined, below 2018 levels, according to data …

By BRIAN NGUGI More than 80% of Kenya’s estimated 2.85 billion barrel oil reservoir remains inaccessible for commercial exploitation due to limitations in extraction technology, UK oil company Tullow said in a program update exploration in Turkana County. The company said a new audit of the Turkana oil fields revealed a larger reservoir – commonly …

A maze of crude oil pipes and valves is pictured during a Department of Energy visit to the Strategic Petroleum Reserve in Freeport, Texas, United States, June 9, 2016. REUTERS / Richard Carson Hurricane Ida impact cuts US supplies Brent ranging from $ 70 to $ 74 for three weeks OPEC sees Delta coronavirus variant …

Brent added 23 cents, or 0.32% to $ 72.83 a barrel at 02:21 GMT and West Texas Intermediate (WTI) crude rose 15 cents, or 0.22%, to $ 69.45 a barrel . SINGAPORE: Oil prices rose for a second session on Thursday, recovering from earlier losses as lower US production in the Gulf of Mexico following …

LONDON (Reuters) – Hedge funds have sold oil for the seventh time in nine weeks, as rising coronavirus infections in major oil-consuming markets dampened hopes of a rapid recovery in aviation from long-haul passengers. FILE PHOTO: A pumpjack is seen in Fellows, Calif. April 3, 2010. REUTERS / Lucy Nicholson Hedge funds and other fund …

Oil futures worried about the impact of COVID on prices from the pressure of energy demand since May on Wednesday, despite US government data revealing a weekly drop of more than 3 million barrels national stocks of crude oil. Post the lowest payout for. EIA figures showed a decrease in crude and distillate inventories and …

SINGAPORE (Reuters) – Oil prices were flat Thursday after two days of gains after a call from the United States, the world’s largest consumer of oil, to major producers to increase production. Brent crude futures edged up 5 cents to $ 71.49 per barrel at 2:16 GMT, while US West Texas Intermediate (WTI) crude futures …

New Mexico’s oil and gas production this spring is back to levels not seen since the COVID-19 pandemic hit the state and nation last year, propelling the Land Enchantment to overtake Dakota from North as the second largest oil producer in the United States In April 2020, a month after the onset of the health …

Through Erik Schatzker, Alex Vasquez and Patricia Laya at 06/21/2021 Venezuelan Oil Minister Tareck El Aissami (Bloomberg) – In Venezuela, queuing at a gas station – sometimes for days – has become so routine it’s hard to imagine life without. But go see Tareck El Aissami, the Minister of Oil, and you will find that …

Last month, on May 14, China announced a new tax on the consumption of mixed aromatics, light cycle oils and bitumen blends, which is expected to be instituted less than a month later on June 12. . keeping a close eye on Chinese oil consumption to see what impact the consumption tax of 1,218 yuan …

As global oil prices edged up to $ 73 a barrel by the end of the trading week, Filipino consumers will be in even more of a hurry next week, with domestic pump prices expected for larger increases. Based on the calculations of the oil companies, gasoline prices could climb by 0.70 to 0.80 P …

Iraq, OPEC’s second-largest oil producer, said crude prices would hover between $ 68 and $ 75 a barrel in the second half of the year. The price range is expected due to a commitment to OPEC + production has declined, Iraqi Oil Minister Ihsan Abdul Jabbar told reporters at the Baghdad International Book Fair. The …

On June 1, 2021, Jeremy Schwartz, Global Head of Research at WisdomTree and regular host of the Behind the Markets podcast, was joined by Mobeen Tahir, Associate Director of Research at WisdomTree, to welcome Erik Gilje, Professor of Finance at the University of Wharton School of Business in Pennsylvania. The topic was petroleum, and the …

By Laila Kearney NEW YORK (Reuters) – Oil prices hit new multi-year highs on Friday, closing a third straight week of gains on an improving outlook for global demand as rising COVID-19 vaccination rates help curb the pandemic. Brent crude futures were at $ 72.69 a barrel, up 17 cents after hitting their highest level …

Canada’s oil and gas industry is increasingly optimistic about its near-term future as economies recover and oil prices recover. Yet the industry faces growing challenges in the medium to long term, primarily in the form of the never-ending battle over pipeline carrying capacity and the environmental and activist emergency of shareholders to hold the oil …

Oil prices rose for a second session on Wednesday on signs of strong demand for fuel in Western economies, as the prospect of a return to Iranian supplies faded as the US Secretary of State faded. said sanctions against Tehran were unlikely to be lifted. Brent crude futures rose 32 cents, or 0.4%, to $ …

Filipino motorists will again have to shell out a higher budget for their fuel consumption next week as prices are expected to rise at the pumps. Oil companies said diesel products could increase from 0.55 P to 0.65 P per liter; while gasoline prices by a marginal upward adjustment from P0.10 to P0.20 per liter. …

Oil prices hit their highest levels in more than two years, and are expected to end the week with a gain of more than 4%, with traders betting that the recovery in demand this summer will cause crude supplies to tighten. The recovery in demand, however, is not a sure thing. “There are a lot …

The American Petroleum Institute (API) on Tuesday announced a drop in crude oil inventories of 5.36 million barrels for the week ending May 28. Analysts had predicted a drawdown of 2.114 million barrels for the week. The week before, API reported a drop in oil inventories of 439,000 barrels after analysts predicted a decline of …

by ASILA JALIL / photo by TMR FILE HIBISCUS Petroleum Bhd aims to deliver three more offtakes during the last quarter of its fiscal year ended June 30, 2021 (FY21), reaching approximately 3.7 million barrels sold in total. The independent oil and gas exploration and production company sold a total of 874,944 barrels of crude …

New Delhi: India’s domestic production, consumption and exports of petroleum products fell 11.0%, 8.7% and 13.3%, respectively, the last fiscal year ended in March 2021 due to the impact of the Covid pandemic. On a cumulative basis, a 4.7 percent year-over-year decline in domestic crude production was recorded in 2020-2021. Natural gas production fell 7.9 …

Protests and civil dissent are once again sweeping across Latin America, a region infamous for its political instability and economic inequality. While the Colombian security crisis is threatening Conflict-Torn Country’s Oil Industry, Argentina’s Oil Sector Recovers After Health Workers Strike blockade lifted in the province of Neuquén at the end of last month. In early …