Opec trims oil demand for next four years
THE Organization of the Petroleum Exporting Countries (Opec) cut its global oil demand forecasts for the next four years on Thursday (Jul 10) as Chinese growth slows. This came even as the…
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Oil
Opec bars five leading news organisations from oil conference
Organization of the Petroleum Exporting Countries (Opec) has excluded five of the world’s leading news organisations from covering its biennial oil seminar in Vienna, attended by the…
Stocks to watch: OCBC, SIA, SGX, GuocoLand, China Aviation Oil, Del Monte Pacific
The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 8): OCBC: The bank aims to extend an additional S$3.5 billion in loans to serial…
ExxonMobil sees US$1.5 billion earnings hit from lower oil, gas prices
The company “has a much smaller trading organisation than its European peer Shell, and thus was not impacted by the same issues” ExxonMobil expects lower oil and gas prices to…
After petrol, China’s oil refiners face a jet fuel glut
China’s oil refiners are grappling with an oversupply of jet fuel, in yet another blow to the bottom line of a sector already dealing with ebbing demand for petrol and diesel. In the…
Opec’s new supply shock nails on oil market’s return to surplus
The latest oil supply shockwave unleashed by Organization of the Petroleum Exporting Countries and its partners (Opec+) is set to swell a surplus later this year, pressuring prices for…
Oil falls slightly ahead of expected Opec+ output increase
Oil futures slipped slightly in thin holiday trading on Friday (Jul 4), as the market looked ahead to this weekend’s Opec+ meeting and the likelihood that member countries will decide to…
Major Chinese ports keep Iranian oil flowing despite sanctions
Some of China’s largest ports have received Iranian crude this year, supporting a multi-billion oil trade and highlighting a significant gap in US efforts to curb funds for Tehran’s…
Oil falls on prospect of more Opec+ supply, easing risks in Middle East
Oil prices fell 1 per cent on Monday as an easing of geopolitical risks in the Middle East and the prospect of another Opec+ output hike in August boosted the supply outlook.…
Oil steadies after report of planned Opec+ August output hike
Oil prices edged up slightly on Friday (Jun 27), recovering from a midday drop into negative territory following a report that Opec+ was planning to hike production in August, but tumbled…
India oil law revamp unlikely to draw foreign drillers amid red tape and weak incentives
India’s first rewrite of its 77-year-old oilfield rules kicked in on Apr 15, with New Delhi hoping it’ll help turn around a decade of sluggish output and and ease its growing reliance on…
Shell says it isn’t in talks to take over oil rival BP
Speculation has been growing that the embattled company would become a takeover target Shell denied The Wall Street Journal report that it is in active talks about acquiring its…
U.S. stocks near all-time high as oil stabilizes
U.S. stocks are hanging near their all-time high on Wednesday as financial markets catch a breath following two big days bolstered by hopes that the Israel-Iran war will not disrupt the…
Trump: I Could Have Taken Iran’s Oil if I Wanted To
Trump gave more noncommittal responses when asked about his current view on Russia’s war against Ukraine at Tuesday’s NATO Summit at The Hague. “You once said that you would end the…
U.S. strikes on Iran’s nuclear program have unleashed cyberattacks on American banks and the oil industry
Hackers backing Tehran have targeted U.S. banks, defense contractors and oil industry companies following American strikes on Iranian nuclear facilities—but so far have not caused…
Trump baffles with sudden U-turn on China buying Iranian oil
US President Donald Trump on Tuesday (Jun 24) appeared to undermine years of US sanctions on Iran, giving its biggest customer, China the green light to carry on buying its oil as he seeks…
Asia: Stocks rally as Iran-Israel ceasefire holds, oil claws back some losses
Most equities extended a global rally on Wednesday (Jun 25) after Iran and Israel agreed to a ceasefire that ended more than a week of hostilities, while the US dollar struggled to recover…
Oil trades on fear, not just barrels, as geopolitics and prediction markets take hold
When even Goldman Sachs is tracking crypto-based prediction platform Polymarket to get a read on the risks facing oil markets, you know something’s shifted. On Monday (Jun 23), Goldman…
Oil prices drop 6% as Israel-Iran ceasefire reduces Middle East supply risk
Oil prices fell 6 per cent on Tuesday (Jun 24) to settle at a two-week low, on expectations the ceasefire between Israel and Iran will reduce the risk of oil supply disruptions in the…
Federal drilling permits rise under Trump as U.S. oil production surges to new records
President Trump's declaration of an energy emergency has helped clear hurdles and push the U.S. to the fastest rate of new oil and gas drilling permits in years, running 44% ahead of the…
Stocks near record highs as oil prices fall after Israel-Iran ceasefire
Oil prices are dropping further, and U.S. stocks are pulling close to their all-time high Tuesday on hopes that Israel’s war with Iran will not damage the global flow of crude, even if a…
Global Markets Jump, Oil Drops 3.4% as Trump Claims Israel-Iran Ceasefire
US President Donald Trump announced a ceasefire between Iran and Israel through a social media post, though Iran and Israel continued their strikes on each other's capitals. But the news…
Wall Street, oil markets take Iran turmoil in stride -- for now
President Trump warned oil-producing nations on Monday to keep prices down and ordered his team to increase domestic production immediately, as the world braced for economic fallout from…
'I'm watching': Trump warns against oil price increases
President Trump warned oil-producing nations on Monday to keep prices down and ordered his team to increase domestic production immediately, as the world braced for possible retaliation…