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Latest Articles in Oil and Gas

Oil Prices Drop On Demand Recovery Fears, OPEC+ Easing Expectations

Under the existing agreement, OPEC+ is set to taper its record supply cut of 9.7 million barrels per day (bpd) to 7.7 million bpd from August through December.

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Oil Dips On Surge In COVID-19 Infections

Brent crude fell 65 cents, or 1.5%, to $42.59 a barrel by 0848 GMT, though prices have been hovering around $42 for a couple of weeks. U.S. crude was down 75 cents, or 1.9%, at $39.80.

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Saudi Aramco Cuts August Heavier Crude Supply For Asian Refiners

OPEC's Joint Ministerial Monitoring Committee (JMMC) will meet on Tuesday and Wednesday to recommend the next level of cuts after compliance in the group hit 107% in June, up from 77% in May.

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Oil Slips As Traders Eye Supply Cut Easing At OPEC Meeting

Brent crude fell 27 cents to $42.97 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $40.27 a barrel, down 28 cents.

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IEA Raises 2020 Oil Demand Forecast But Warns COVID-19 Clouds Outlook

The IEA said the Organization of the Petroleum Exporting Countries and other producers including Russia, a grouping known as OPEC+, had shown 108% compliance with their pact to rein in output.

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Malaysia Palm Oil Stockpile Down 6.3% At End-June, MPOB Says

Palm oil exports surged 24.9% from May to 1.71 million tonnes, according to MPOB data.

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Oil Falls, Heads For Weekly Decline As Virus Cases Hit Record

Brent crude was down by 25 cents, or 0.6%, at $42.10 a barrel by 0341 GMT after falling more than 2% on Thursday. U.S. oil fell 33 cents, or 0.8%, at $39.29 a barrel after a drop of 3% in the previous session.

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India's Fuel Demand Recovered Further In June

Demand for fuel plunged to 9.94 million tonnes in April, its lowest level since 2007 as stringent lockdown measures hammered economic activity, but it has since recovered by 64%.

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Reliance To Load Venezuelan Oil Cargo Under Fuel Swap Deal

Reliance gave the US State Department and the Office of Foreign Assets Control (OFAC) notice of the diesel swap and received word back that the policies that allowed the transaction were still in place

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Oil Eases As Coronavirus Fears Offset Gasoline Recovery Signs

Brent crude futures slipped 7 cents, or 0.2%, to $43.22, after gaining 0.5% on Wednesday.

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Rising Demand Lifts Refined Soya Oil Futures

Refined soya oil contracts for August delivery rose by Rs 3.9, or 0.48 per cent, to Rs 817.8 per 10 kg in 23,795 lots.

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OMV Production Falls In Wake Of Coronavirus Pandemic

Output of oil and gas decreased to 464,000 barrels of oil equivalent per day (boed) in the second quarter from 490,000 boed in last year's period.

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Oil Dips As US Inventory Build Stokes Supply Fears

Brent crude futures fell 13 cents, or 0.3%, to $42.95 a barrel by 0019 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped 10 cents, or 0.3%, to $40.52 a barrel.

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Iran's Oil Storage Almost Full As Sanctions And Pandemic Weigh

Total onshore crude stocks surged to 54 million barrels in April from 15 million barrels in January, and swelled further to 63 million barrels in June, according to FGE Energy.

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Coronavirus Pain Drives Big Oil's Dash For Record Debt

Oil majors' revenues are expected to drop sharply in the second quarter after movement restrictions to limit the spread of the novel coronavirus that causes COVID-19 led to a steep drop in fuel consumption.

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