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Oil prices rise on falling U.S. crude inventories

(Bloomberg) --Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and Chinas central bank added liquidity to quell concern about a major developers debt woes. West Texas In......【More】


Oil set for fourth weekly gain with high energy prices in focus

(Bloomberg) --Oil headed for a fourth weekly gain supported by signs of a tighter market and a wider rally in energy prices. West Texas Intermediate, which dipped on Friday, has still climbed about 4% this week. Investors have been tracking......【More】


BP, PetroChina form JV to manage Iraq’s Rumaila oil field

LONDON (Bloomberg) - BP and PetroChina formed a joint venture to manage the giant Rumaila field in Iraq, an operating structure the British oil major has adopted in other parts of the world as it focuses on the energy transition. BP is at t......【More】


State oil companies begin their own moves toward carbon neutrality

MEXICO CITY (Bloomberg) --Pemex left investors with more questions than answers after it announced in late July that it would be disclosing its greenhouse gas emissions on a more regular basis then refused to discuss why theyd soared by dou......【More】


Oil prices jump on stock market rebound, FDA vaccine approval

(Bloomberg) --Oil in New York surged by the most since April amid a broader market rebound after the longest stretch of declines in nearly two years. The U.S. crude benchmark climbed nearly 5% on Monday and the global benchmark Brent also a......【More】


Oil companies’ renewables push squeezing profitability from green projects

(Bloomberg) --The worlds largest oil companies are bidding up prices for renewable energy projects, squeezing profits from wind and solar farms just as climate planning focuses more on green energy sources. Companies from BP Plc to TotalEne......【More】


Iran’s oil output growth looks less likely following tanker attack

(Bloomberg) --Irans oil comeback, already taking longer than many traders expected, will be further complicated by last weeks deadly drone attack on a tanker in the Gulf of Oman, which the U.S., U.K. and Israel all blamed on Tehran. With ta......【More】


Oil prices fall on declining Chinese factory output

(Bloomberg) --Oil slid by the most in a week as the fast-spreading delta variant poses a threat to demand and as data out of China signaled a slowdown. Futures in New York declined as much as 2% on Monday. The virus is clouding the outlook......【More】


U.S. crude oil exports reached record levels in 2020, remain high in 2021

WASHINGTON - Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020. So far this year (as of July 9, 2021), U.S. crude oil exports have averaged 3.00 million barrels per day (bpd). The most recent fou......【More】


OPEC agrees to boost oil output in August on Saudi-UAE compromise

(Bloomberg) - OPEC and its allies agreed to gradually add more oil supplies to the market, ending a two-week spat between Saudi Arabia and the United Arab Emirates. The unusually public dispute that tested the unity of the cartel was resolv......【More】