Oil price

Oil rises 2% from multi-month low on U.S. Gulf production cuts, supply outlook

BP begins to redeploy workers to offshore platforms Iraq says OPEC is monitoring prices and seeking market balance Coming soon: API supply report at 4:30 p.m. EDT, 2030 GMT NEW YORK, Sept 27 (Reuters) – Oil rose around $2 a barrel on Tuesday from a nine-month low a day earlier, …

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Some Saudis fear being left behind despite soaring oil prices

Every evening in Hail, a Saudi town at the foot of a jagged mountain range, Mona heads to her roadside tea stall, turns on the lights and waits for customers to show up. She keeps a printed resume handy, hoping one might offer her a better job. “It’s worse now,” …

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Energy earnings set to decline, but oil services remain strong

The energy sector has made bumper profits in the current year, with major oil companies setting records right, left and center. ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX) and Shell (NYSE:SHEL) together generated $46 billion in second-quarter earnings, with all three setting new quarterly earnings records. Overall, high commodity prices are …

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Are energy stocks always cheap?

Energy stocks are outperforming the stock market — by a mile — this year. Record profits for oil and gas companies amid soaring commodity prices have made the energy sector attractive to investors. Yet record earnings for energy and materials stocks mask a weaker S&P 500 market, where earnings growth …

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Gasoline prices in Georgia fall another 7 cents, despite rising crude oil prices

Gasoline prices in Georgia continue to decline, consistent with the national trend, dropping seven cents per gallon on average for regular unleaded over the past week. But the recent rise in crude oil prices could initiate a reversal of this trend. According to the weekly press release from Montrae Waiters, …

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India should not support G-7 Russian oil price cap

A country that imports more than 85% of its fuel needs must ensure that there is no disruption in the supply of this strategic product. It is therefore good news that India is trying to diversify its sources of crude oil supply. This will help insulate the country from the …

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Rising oil prices could improve the financial situation of the Gulf countries – ARAB TIMES

WhatsApp Facebook Twitter E-mail Messenger This post has been read 1037 times! Solvency will depend on sudden oil gains KUWAIT CITY, September 15: The rating agency “Moody’s” has indicated that the rise in oil prices over the next two years will lead to a significant improvement in the financial and …

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Wall Street is increasingly bullish on energy stocks

Oil and gas stocks, the best performing stocks on the S&P 500 so far this year, still have room for improvement as retail and portfolio investors seek to increase exposure to traditional energy , expecting a worsening energy crisis and fuel shortages. This winter. Despite market concern that soaring energy …

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Europe’s natural gas shortage could trigger a food crisis

The problem with an energy crisis is that it is actually a crisis of everything. In a world where virtually every industry depends on energy in one form or another, runaway inflation is inevitable. This phenomenon is not new – you have been experiencing it for a good part of …

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Soybean oil price may fall once dollar price stabilizes: Tipu

Trade Minister Tipu Munshi said he was optimistic that the price of soybean oil could fall over the next two months. “Due to the high value of the US dollar, the price of commodities is not falling in the country. Commodity prices are expected to fall after the price of …

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Europe’s reaction to the energy crisis is turning into a ‘Ponzi scheme’

The leaders of the European Union have been working hard these days, trying to find a lasting solution to an energy crisis that is getting worse every day. Yet the way they approach the solution is unlikely to produce lasting results. And so far it has been compared to a …

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Oil prices jump over $2 ahead of OPEC+ meeting

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. REUTERS/Todd Korol/File Photo Join now for FREE unlimited access to Reuters.com Register Brent and WTI contracts rise more than 2% OPEC+ to discuss production cut among other options, sources say Iranian crude exports and …

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NuVista Energy: The price of oil is more important than the price of natural gas (OTCMKTS: NUVSF)

milehightraveler Introduction As explained in my previous articles on NuVista (OTCPK:NUVSF) (TSX:NVA:CA), this Canadian natural gas producer is an interesting story to follow. Unfortunately, the price of AECO natural gas is quite low these days, but NuVista has a cover story part of its production, and this, combined with still …

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BP refinery in Indiana restarts after fire

BP Plc’s refinery in Whiting, Indiana, has restarted production after being shut down last week due to an electrical fire, Reuters reports, citing unnamed sources familiar with the operations. The 435,000-barrel-a-day refinery, the largest in the Midwest, caught fire last week, shutting down several units and declaring an emergency in …

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The price of crude oil rose due to supply constraints in several key markets. Where to look for WTI?

Crude Oil, US Dollar, WTI, Brent, Fed, OPEC+, Libya, Congo, UAE, Oman, Kazakhstan, Iran – Talking Points crude oil prices pushed higher with swirling supply issues Many oil-producing countries face challenges or support production cuts A stronger US dollar could not contain oil. Will the WTI take back the heights? …

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Global consumption of renewable energy is skyrocketing

At the start of the Covid-19 pandemic, global energy consumption plunged. All major categories of energy production declined except one. Despite the largest drop in global primary energy consumption since World War II, global renewable energy consumption increased by 9.7% in 2020. This is remarkable given the impact of the …

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Fuel prices drop as global crude oil rate declines, Telangana Minister KT Rama Rao asks Center

Minister Telangana and the incumbent chairman of the ruling Telangana Rashtra Samithi (TRS) party KT Rama Rao on Wednesday called on the Union government to lower fuel prices as global crude oil prices fall. In a statement, Rama Rao said the Narendra Modi government’s excuse that international crude oil prices …

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TASI starts in the red as oil price uncertainty clouds investors’ minds: Opening Bell

RIYADH: Saudi stocks ended flat on Monday after falling a day earlier as investor sentiment was dragged down by a weakening global economic outlook. TASI, the main benchmark, ended the session at 12,560, while parallel market Nomu added 0.3% to 21,724. Gulf markets were mixed on Monday, with the Qatari …

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High impact oil and gas drilling is back

Exploration and production companies are drilling more high-impact wells this year, with a much higher success rate than in 2021. This is a positive sign for global oil and gas supply, as the activity is picking up. High-impact exploration is back after a dismal 2021, which saw a low success …

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Diesel and kerosene surge in price on Tuesday – Manila Bulletin

The halcyon days are over as a new wave of oil price hikes loom again with petroleum product price hikes expected next week, with diesel and kerosene prices seeing larger increases, based on initial calculations by oil companies. According to industry players, the price of diesel will increase from P2.45 …

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Coal consumption was on the rise even before the war in Ukraine

This article is the fifth in a series on the BP World Energy Statistical Review 2022. The review provides a comprehensive picture of supply and demand for major energy sources at the national level. Previous articles covered overall energy consumption, carbon dioxide emissions, oil supply and demand, and global natural …

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Crude Oil Price vs. US Dollar: Top 5 Short-Term Gold Price Triggers

Gold Price Outlook: Following the easing of the dollar index and the slowdown in global inflation, the prices of yellow metals reached their highest level in 5 weeks last week. The precious metal ended last week in positive territory for the fourth week in a row, posting a weekly gain …

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Asia gobbles up cheap U.S. crude at OPEC’s expense

Asian buyers bought a substantial amount of cheap U.S. crude on the spot market, suggesting demand for Middle Eastern grades will be weaker in the immediate future, Bloomberg reports, citing traders. According to them, South Korean and Indian refiners have bought some 16 million barrels of U.S. crude on the …

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Oil price drops as Russian pipeline flow halt appears temporary, demand fears rise

NEW YORK: Oil the prices stabilized slightly lower on Tuesday after a choppy session, with fears that a slowing economy could reduce demand rivaling news that some oil exports had been suspended on the Russia-Europe Druzhba pipeline which passes through Ukraine. Raw the prices have been under pressure for weeks …

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Meralco slashes electricity rates as oil companies cut pump prices

Electricity rates this month and fuel prices this week are down. On Monday, the Manila Electric Company (Meralco) announced a P0.2087 reduction in August tariffs to P9.5458 per kilowatt-hour (kWh) from P9.7545 per kWh last month. This equates to a reduction of around 42 P in the total bill for …

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Rising oil prices will hit industry and agriculture hard: companies

A file photo shows workers picking up spools of yarn at a textile factory on the outskirts of Dhaka. — New Age Photo Business leaders on Saturday expressed concern that the sharp rise in fuel oil prices will hit production, lives and livelihoods hard. The government on Friday revised the …

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How to Make Friends and Drain the Russian War Machine by Anders Åslund

Western governments are struggling to rise to the challenge of reducing Russia’s oil export revenues, as the impact of their boycotts is offset by higher prices and purchases elsewhere. By establishing a cartel of buyers to impose a price cap on Russian crude, the West could achieve its goal with …

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How Commodity Traders Help Fund Russia’s War

Despite sweeping sanctions and import bans, Russia’s vast energy sector continues to thrive, with the country managing to export nearly $1 billion worth of fossil fuels a day in the first 100 days since its invasion of Russia. ‘Ukraine. Indeed, rising crude oil and fuel prices allowed Russian oil and …

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NOCs, not big oil, are responsible for most emissions

While much of the global pressure for decarbonization has been directed at private and exploited oil supermajors like BP, ExxonMobil and Shell, a new report from The Economist suggests that much of that pressure and blame is wrong. It’s not that Big Oil doesn’t need to change its focus, strategy …

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Joe Biden’s green agenda hits Americans with an oil shock

When his green credentials were challenged by a young campaigner, Joe Biden had a simple answer. “Kiddo, I want you to look me in the eye,” the future president said in 2019, shaking his hand. “I guarantee you we’re going to be done with fossil fuels.” Unlike his predecessor Donald …

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Food prices for coffee, cooking oil and avocados fall but remain high

As soaring food prices continue to wreak havoc around the world, consumers are finding respite in cooking oil, coffee and avocado. Prices for these foodstuffs are beginning to fall although they remain relatively high, according to the latest food price data. In Asia-Pacific, Indian prices for sunflower oil and palm …

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Iran’s oil revenue soars 580% as crude prices soar

Iran’s revenue from oil and condensate exports jumped 580 percent in the first four months of the current Iranian year which begins March 21, Iran’s Economic Affairs and Finance Minister said on Tuesday. , Seyyed Ehsan Khandouzi. Between March 21 and July 21, international crude oil prices largely held above …

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Record profits could convince oil majors to raise dividends

The world’s largest international oil and gas companies are expected to ramp up share buybacks, and some may increase their dividends next week when Big Oil is expected to post another strong quarter. Shareholders could expect higher returns as Shell, BP, TotalEnergies, Exxon and Chevron are all expected to post …

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Oil prices on another round of declines next week – Manila Bulletin

Filipino consumers will get another shot next week on their fuel budgets as prices see another round of declines, albeit modest, with diesel products set to see a bigger cost cut from 1.80 to 2, 10 pesos per litre. In addition, the oil companies have calculated a price reduction of …

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Oil prices slump as inventories and rate hikes stoke demand fears

Oil pump cylinders are seen at the Vaca Muerta shale oil and gas field in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian Join now for FREE unlimited access to Reuters.com Register Oil prices fall for second session Libyan NOC restarts production at several oil fields Gazprom …

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Oil prices fall on warnings of economic slowdown

LONDON, July 19 (Reuters) – Oil prices fell 2% on Tuesday after climbing more than $5 a barrel in the previous session, weighed on fears that an economic slowdown could hit demand for oil, although tight supply and dollar weakness limited some losses. Brent futures for September settlement were down …

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Technology versus scarcity: the disturbing reality of exponential growth

Half of all oil consumed since the dawn of the modern oil age in 1859 was consumed from 1998 to 2021 inclusive, based on data available from the BP Statistical Review of World Energy. About 1.4 trillion barrels of oil They are believed to have been consumed to date (although …

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ATF rates cut by 2.2% due to falling international oil prices

On Saturday, jet fuel (ATF) prices were cut 2.2%, reflecting a fall in international oil prices. Aviation turbine fuel (ATF) prices have been reduced by Rs 3,084.94 per kilolitre, or 2.2 per cent, to Rs 138,147.93 per kl, according to a price notification from fuel retailers …

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Oil prices drop more than $4 ahead of possible big US rate hike

Pump jacks pump oil into an oil field on the shores of the Caspian Sea in Baku, Azerbaijan October 5, 2017. REUTERS/Grigory Dukor Join now for FREE unlimited access to Reuters.com Register LONDON, July 14 (Reuters) – Oil prices fell more than $4 on Thursday as investors focused on the …

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OPEC sees global demand in 2023 outpacing supply

OPEC said on Tuesday that global demand will continue to outstrip supply in its outlook for the year ahead, as member countries struggle to increase flows. In the cartel’s first forecast for 2023, demand is expected to increase by 2.7 million barrels per day, while supplies from non-OPEC sources are …

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Major Russian investment projects are sidelined due to sanctions

Sergei had clung for years to the hope that his hometown of Sovetskaya Gavan, a once bustling port city in the Russian Far East, would soon see better days. Sovetskaya Gavan was home to shipbuilding and repair factories, a vibrant fishing industry, and military personnel of all persuasions during the …

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Oil price spike: UK motorists erupt in fury as oil hits £88 a barrel | United Kingdom | New

With Boris Johnson’s resignation likely to lead to a political vacuum, the agony at the pumps is set to continue. There were also concerns that the 5p reduction in fuel duty announced in the spring statement by then-Chancellor Rishi Sunak was not passed on to motorists by retailers. Brent crude …

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How falling edible oil prices will affect consumers and FMCG companies

The days of cooking oil prices digging a hole in the pockets of India’s middle and lower class look set to fade. On Wednesday, the government ordered edible oil manufacturers to further reduce the maximum retail price (MRP) of imported cooking oils by up to Rs 10 per liter within …

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Saudi Arabia raises oil prices to Asia again

By Tsvetana Paraskova – July 5, 2022, 10:00 a.m. CDT Saudi Arabia again raised the price of its oil to Asia. The Kingdom will increase its official sale prices in all regions except the United States. The move is a sign that Saudi Arabia is seeing robust …

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Mining industry warns energy transition is unsustainable

The energy transition has been defined by politicians as the only way forward for human civilization. Not every country on the planet agrees with this, but those that do have the loudest voices. And even amid the fossil fuel crisis that is beginning to cripple economies, transition remains a goal. …

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How to mitigate the impact of the war in Ukraine on commodity markets

The Russian invasion of Ukraine has caused major disruptions in the supply of basic commodities such as energy and food, of which Russia and Ukraine are major exporters. The war exacerbated existing pandemic-related tensions in commodity markets, which had arisen due to supply chain disruptions, weak investment in energy generation …

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Why is fuel so expensive? It’s not just the price of oil

Placeholder while loading article actions When energy prices soar, there are few places where the pain is felt as acutely as at the gas station. The cost of gasoline for your car or diesel fueling trucks is determined by a complex mix of politics in the Middle East, refining capacity, …

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Critical EIA Oil Inventory Data Faces Further Delays

The Energy Information Administration will not release any further data, the agency said in an update on highly anticipated inventory numbers due to be released last Wednesday. The data was not released last week after the EIA discovered “a voltage irregularity, which caused hardware failures on two of our main …

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Why Chinese imports of US LNG have collapsed

As European LNG buyers snap up shipments from the United States in a race to replace Russian pipeline deliveries, America has become a major supplier to Europe, and its sales to China have soared. reduced to a few shipments shipped so far this year. Chinese LNG imports from the United …

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Buyers jostle for long-term LNG contracts in 2022

Demand for long-term LNG contracts has risen sharply in the current year, with suppliers taking advantage of robust demand thanks to a global effort to reduce Russian imports by demanding much higher tariffs for new contracts long-term. According to a Oil and Gas Journal report10-year LNG contracts are currently priced …

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Senator says changing oil price transparency law ‘may take time’

PHILIPPINE STAR/WALTER BOLLOZOS The outgoing chairman of the Senate Energy Committee said so on Wednesday. “can take time” Amend the Petroleum Deregulation Act to include provisions that will make oil prices more transparent through cost unbundling. “The solution to amending the oil deregulation law is not an immediate solution (to …

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Here’s why global oil demand fell this spring

According to data from the Joint Organizations Data Initiative (JODI) cited by Reuters. Falling oil demand in China amid weeks of strict shutdowns in Shanghai spooked the oil market in April and through most of May as China’s zero-COVID policy led to mass testing and closures in the Chinese financial …

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The inevitable result of recessions

Comment A reversal in oil prices and energy stock prices could begin. The reason for this is that oil price reversals are the inevitable result of economic recessions. Of course, this is due to previous price spikes that create demand destruction in the economy. The graph shows the price of …

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Rise in jet fuel prices: jet fuel prices increased by 16%; tap a new record

On Thursday, jet fuel prices were raised by 16%, the highest rates on record, to propel rates to a record high, alongside the tightening of international oil rates. The price of aviation jet fuel (ATF) – the fuel that helps planes fly – has been increased by Rs 19,757.13 per …

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Why gas prices are so high

$1 $2 $3 $4 $5 per gallon 1980 1990 2000 2010 2020 Regular gas monthly average price Average June forecast $4.59 per gallon Adjusted for inflation Not adjusted Source: Energy Information Administration Note: Inflation-adjusted prices are in June 2022 dollars. The average price for June is a forecast. Gas prices …

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LME faces $500 million lawsuit over short nickel squeeze

Nickel prices appeared to have bottomed out in mid-May, but the trend remains down. Moreover, recent price action has shown few signs of bullish structures on a weekly basis. In total, the monthly Stainless Metals Index (MMI) fell 9.4% from May to June. LME faces nearly $500 million in lawsuits …

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Biden tells Exxon to start paying taxes

As the US administration grows more desperate each week as gas prices soar above $5 a gallon in the US, President Biden is now going after individual oil and gas companies, know ExxonMobil. A statement from Biden attempting to address May inflation data contained harsh words, both for the oil …

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Biden’s trip to Saudi Arabia won’t solve oil market problems

When news broke last week that President Biden was planning a visit to the Middle East that would include Saudi Arabia, many industry watchers saw signs of a “thaw” in relations between Washington and Riyadh. They also saw the prospect of lower oil prices. It was, after all, to drive …

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After tax suspension, gas prices still high: AAA says blame oil prices

ROCHESTER, NY (WROC) — On June 1, New York State suspended the excise tax on motor fuel and diesel. On Monday, some gas stations were a little lower, with some climbing even higher — gradually approaching the $5.00 mark for a gallon of regular fuel. The average price in Rochester …

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PPP leader slams government for rising oil prices

MARDAN: The central leader of the Pakistan People’s Party and former federal minister, Khwaja Mohammad Khan Hoti, has criticized the government for raising the prices of petroleum products and electricity. Speaking to the media here, Mr Hoti said the masses had already been hit hard by the rising prices they …

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New drilling stops in US oil patch

By Julianne Geiger – Jun 03, 2022, 1:10 p.m. CDT The total number of active rigs in the United States remained the same this week, after one rig fell the previous week, according to new data from Baker Hughes released on Friday. The total rig count remained at 727 this …

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What is the exceptional tax on oil companies?

Russia’s attack on Ukraine has upended the supply chain, pushing global inflation to uncomfortable levels. And one of the reasons for soaring inflation is the sharp rise in crude oil prices. But as public finances bleed, oil and gas companies around the world are hitting money, whether …

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India’s domestic crude oil production falls to 28-year low in FY22

Production has declined every month for the past 4½ years in the core sector index; old fields among the probable reasons Topicscrude oil production | CGSB | oil Domestic crude oil production has been declining since FY 2014-15 (FY15), falling to just 28.4 million tonnes (MT) in FY22, the …

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Pakistan ready to buy oil and wheat from Russia amid rising fuel prices

Pakistan has said it is open to importing oil and foodstuffs from Russia amid the ongoing backlash against the country for invading Ukraine. Speaking at a press briefing, Pakistani Foreign Ministry spokesman Asim Iftikhar said the country had an ‘open door policy’ driven by the national interest …

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Rising oil prices and electricity costs put immediate pressure on labor

The new Labor government faces an immediate test of its election promise to tackle cost of living pressures as a rebound in the global oil price threatens to swallow petrol price relief due to the reduction of excise duties on fuel and that consumers prepare for an impending spike in …

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Oil advances on tight supply and an expected rise in demand

Storage tanks are seen at the Petroineos Ineos oil refinery in Lavera, France, March 29, 2022. REUTERS/Benoit Tessier Join now for FREE unlimited access to Reuters.com Register French minister optimistic about EU oil embargo Memorial Day weekend trips to the United States will be the busiest in two years U.S. …

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Eni and TotalEnergies start drilling off Cyprus

Italy’s Eni and France’s TotalEnergies began exploratory drilling of a natural gas well off Cyprus on Monday in the same block where a discovery was made in 2018. On Monday, the Tungsten Explorer drillship arrived off Cyprus to start drilling in Block 6, where Eni Cyprus and TotalEnergies EP Cyprus …

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Oil market fears recession more than tight fuel stocks

The oil market wrapped up another volatile week of hectic trading, swinging up and down in the $5 a barrel range as it was torn between bullish and bearish catalysts back and forth each day. The two landmarks reached an eight-week high early Tuesday, only to pull back later in …

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Brent-WTI Oil Price Gap Reversals | Rigzone

(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 hits and misses in the oil and gas industry, regular market watchers at Rigzone focus on the reversal of …

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Countries banning food exports amid rising prices and inflation

India has banned wheat exports as grain prices have jumped this year partly due to the Russian-Ukrainian war. T.Narayan | Bloomberg | Getty Images India has banned wheat exports, becoming the latest country to do so as grain prices have surged this year in part due to the Russia-Ukraine war. …

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Anakpawis party list urges Congress to hold special session to deal with rising oil prices

By Billy Begas The Anakpawis party list on Monday called on lawmakers to “decisively perform the patriotic act” and hold a special session to deal with rising oil prices. National Anakpawis President Ariel Casilao has called on incumbent lawmakers to repeal provisions relating to excise duties and Value Added Tax …

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Faster transition to renewable energy will get Canada off fuel price roller coaster, economist says

While Canadians are paying record prices at the gas pump, fossil fuel companies have reaped record profits. Calgary-based Suncor tripled its profits over the past year, from $821 million to $3 billion. The cost of producing petroleum-based products like gasoline and diesel has not increased, according to Jim Stanford, an …

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UK increases LNG imports, but consumers unlikely to see relief

The UK bucked the pan-European trend of soaring wholesale gas prices as shipments of liquefied natural gas eased a shortage that drove prices up last year and kept them there. But consumers won’t feel price relief any time soon. Bloomberg reported this week that the daily price of natural gas …

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Dana Gas more than doubled its first-quarter net profit amid rising oil prices

Sharjah-based Dana Gas, one of the Middle East’s largest private natural gas companies, more than doubled its net profit in the first quarter as revenue surged amid rising oil prices. Net profit for the three months to the end of March jumped 125% to 198 million dirhams ($54 million), the …

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Oil Price Drop: Brent Crude Plunges as European Union Prepares to Vote on Russian Oil Ban | City & Business | Finance

Brent crude fell 28 cents (23 pence) to $112.11 (£91.30) a barrel in the early hours of Monday morning. US crude West Texas Intermediate was also hit, falling 41 cents (33 pence) to $109.36 (£89.06) a barrel. The market has been rocked by events in Brussels as the 27 EU …

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Will soaring energy prices derail reforms in the oil-exporting Middle East? | World | Latest news and insights from around the world | DW

Two years ago, Iraq was almost out of money. The country is the fifth largest oil producer in the world and it should be rich. But because almost everything Iraq earns comes from its oil sales, the Middle Eastern nation’s budget is at the mercy of world oil prices. Already …

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JPMorgan slashes demand outlook amid soaring oil prices

By Irina Slav – May 05, 2022, 10:00 a.m. CDT JP Morgan has revised its forecast for oil demand this year down 1 million barrels per day. JP Morgan forecasts total oil demand to average 100 million bpd in 2022, 400,000 bpd below 2019 levels JP Morgan …

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Fossil fuels aren’t going away any time soon

Calls for an end to all investment in new oil and gas production, protests demanding the immediate suspension of oil production, and whistleblower reports from environmental NGOs accusing banks of continuing to finance fossil fuels have become essentials of today’s life in the West. But fossil fuels aren’t going anywhere, …

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Oil price crash: Joy for British motorists as the cost of a barrel drops to $104 | World | News

Market-pioneer Brent crude futures fell 12 cents (10p) to settle at $107.14 (£85.22) a barrel while the contract expiring the previous month rose 1 $.75 (£1.39) to settle at $109.34 (£86.95) a barrel. US crude West Texas Intermediate fell 67 cents (53p) to settle at $104.69 (£83.26) a barrel. It …

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Iran increases oil exports as main buyer China cuts Russian purchases

Iran’s oil exports jumped 30% from a year ago to 870,000 barrels per day (bpd) in the first quarter of 2022, The Wall Street Journal reported on Thursday, citing data from the data provider on raw materials Kpler, as the main buyer of Iranian crude, China, is reducing its imports …

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How India Can Insulate Inflation From Soaring Crude Oil Prices – IMF Explains

To stay sheltered from soaring crude oil prices, the International Monetary Fund (IMF) suggested the Indian government adopt monetary tightening and measures to check structural weaknesses. The IMF believes that the rise in the price of crude oil following the Russian-Ukrainian war is the main reason for the rise in …

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Oil slips as Shanghai lockdowns stoke demand fears

A general view shows Lukoil company’s oil refinery in Volgograd, Russia April 22, 2022. REUTERS/REUTERS PHOTOGRAPHER Join now for FREE unlimited access to Reuters.com Register Shanghai fences off COVID-hit areas, fueling fresh outcry EU mulls ‘smart sanctions’ on Russian oil Libyan NOC says Zawiya oil refinery damaged after armed clashes …

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The Russian war sparked a coal renaissance

Despite much talk about accelerating renewables, coal continues to dominate some markets. China is steadily increasing its coal production, while Indonesia is looking to export to new European buyers. And while many countries are imposing sanctions on Russian coal, India is now backing its imports of cheap Russian oil with …

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The energy transition poses a major problem for metals

The metal mining industry is at a crossroads. The key metals of the energy transition need billions of dollars of investment if the world has any chance of advancing the transition to meet the goals of the Paris Agreement. At the same time, investors are pulling out of carbon-intensive sectors, …

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Oil prices plunge after IMF downgrades global growth forecast

Oil prices fell more than 5% today as investors worried about a drop in demand after the International Monetary Fund cut its forecast for global growth. In the evening, the price of Brent crude, the main international oil contract, was down 5.4% at $107.11 a barrel, while the main American …

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China’s new gold project is a double-edged sword for Tajikistan

The President of Tajikistan visited the northern region of Sughd on April 14 to oversee the opening of a new gold processing plant built by a Chinese investor at a cost of approximately $136 million. The company, Talco Gold, will produce up to 2.2 tonnes of gold and 21,000 tonnes …

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Oil prices fall as market weighs on mixed supply signals

Workers walk as oil pumps are seen in the background at the Uzen oil and gas field in the Mangistau region of Kazakhstan November 13, 2021. REUTERS/Pavel Mikheyev Join now for FREE unlimited access to Reuters.com Register NEW DELHI, April 14 – Oil prices fell on Thursday amid weak trading …

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TotalEnergies to increase LNG capacity on the Louisiane project

TotalEnergies plans to increase production capacity at the Cameron LNG plant in Louisiana in the United States, the French supermajor announced on Monday, as the United States seeks to increase LNG shipments to Europe to help it reduce its dependence on Russian gas. As part of a recent memorandum of …

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Russian oil continues to flow to India and China

It has been exactly six weeks since Russia invaded Ukraine, with no end in sight for one of humanity’s greatest existential crises of modern times. In response to Russia’s unprovoked and unjustified war, the United States and the West hit the rogue nation with a plethora of sanctions, with the …

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Oil prices set to drop weekly on stock releases

A maze of crude oil pipes and valves are pictured during a Department of Energy visit to the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson/ Join now for FREE unlimited access to Reuters.com Register LONDON, April 8 (Reuters) – Oil prices rose on Friday but …

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Breaking the lower triangle support – what next?

Crude Oil Outlook: Crude Oil Prices Continue to See Volatile Price Action in Both Directionsalthough a break lower from a recent symmetrical triangle appears to be underway. Rising US oil production, combined with lower US demand, is easing upward pressure on energy prices. According to IG Customer Opinion Indexcrude oil …

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Why Renewables Cannot Solve Europe’s Energy Crisis

Germany is preparing for gas rationing. The operator of the French electricity network is request consumers to use less electricity. In the UK, protests erupt over the latest electricity price hike which plunged millions of homes in what a local think tank called fuel stress. Europe has a serious energy …

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Has the surge in oil prices further fueled Turkish inflation?

Did Turkish inflation hit a 20-year high in March? Soaring global energy prices likely propelled Turkish inflation to its fastest rate in two decades in March, but President Recep Tayyip Erdogan’s fixation on low interest rates means the central bank remains reluctant to respond with a tighter monetary policy. The …

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Steel shortage adds to woes for US shale drillers

US shale oil drillers are complaining of a shortage of steel tubing for wells, contributing to stagnant production. In a Friday report, Bloomberg cited data from KeyBanc Capital Markets, which showed the price of pipe used in the oil industry – tubular goods for oil countries – soared to $2,400 …

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Nifty could yield 15% return in 2022 if oil prices stabilise, new-age tech is clearly one to avoid | MAINTENANCE

If crude oil prices stabilize quickly, NSE Nifty 50 could potentially rise and help investors pocket around 15% in the current year 2022, said George Heber Joseph, CEO and CIO, ITI Mutual Fund, in an interview with Kshitij Bhargava of FinancialExpress.com. Joseph spoke about the impact rising crude oil prices …

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Soaring energy stocks may bode ill for global markets

A week ago, we reported that the rise in oil and gas prices caused by the conflict in Ukraine had increased the threat of worst stagflationary shock hitting Europe since the 1970s. Europe is at serious risk of plunging into a deep recession if Russia follows through on its threat …

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In the 2nd surprise price increase of the week, diesel, heating oil and fuel oil rose again across NL.

Drivers in Newfoundland and Labrador are seeing new pump prices for the third time this week. (Jonathan Hayward/The Canadian Press) The costs of some fuels in Newfoundland and Labrador rose again on Friday as the Public Utilities Board changed prices for the third time this week as the global oil …

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Deja vu: Soaring oil prices raise fears of a global recession

The more Russian oil supplies slip off the market in the coming months, the higher the risks of a global recession later this year, economists and analysts have begun to warn since Russia invaded Ukraine it a month ago. The latest warning came this week from two economists at the …

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Explained: Why petrol and diesel prices rose after a 137-day freeze

Gasoline and diesel prices were raised on Tuesday for the first time in more than four months as oil marketing companies (WTO) increase in the prices of the two fuels of about Rs 0.8 per litre. The price of petrol in the nation’s capital is now Rs 96.21 per liter …

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