Opec's oil supply jumped to its highest in almost two years in September due to further recovery in Libya and higher output from Saudi Arabia and other Gulf producers in the face of sub-$100 per barrel oil prices, a report said.
Crude oil would cost at least $150 a barrel due to supply disruptions in the Middle East and North Africa were it not for rising production in North Dakota and Texas, US Energy Information Administration (EIA) chief Adam Sieminski said in an int
Indian imports of Iranian oil rose by nearly half to 271,000 barrels per day (bpd) in January-August from a year ago, when refineries cut purchases due to worries about insurance coverage for processing crude from Tehran, data from trade sourc
World oil demand growth is softening at a remarkable pace as the European and Chinese economies falter, the West's energy watchdog said on Thursday, while supplies grow steadily, particularly from North America.
If you could pick the worst set of circumstances in which to start up a giant, export-oriented oil refinery, you might well have them right now.
Saudi Aramco and joint venture partner Sinopec have started test runs at their 400,00
Brent crude slid below $100 a barrel on Monday for the first time in more than a year as Chinese and US data pointed to slower-than-expected growth in the world's top oil consumers.
Weak economic growth combined with ample sup
Iraqi Kurdistan has shipped over 8 million barrels of oil from the Turkish port of Ceyhan since May, sources and energy officials said, as the autonomous region employs new tactics to establish independent oil sales in defiance of Baghdad.
Top oil exporter Saudi Arabia is expected to cut October prices for all grades sold to Asia, reflecting weak demand and a stronger Oman price marker, trade sources said.
Flagship Arab Light may also see the big
The price of Kuwait Export Crude (KEC) fell about $5, from $108.2 per barrel (bbl) at the start of July to $103.4 per bbl at the end of the month, said a report.
The National Bank of Kuwait report noted that the oil prices retreat
Brent slipped below $102 a barrel on Thursday, near a 14-month low hit earlier this week, as concerns over excess oil supply and slowing demand weighed on prices.
A survey on China's factory activity showed that growth in the