Russian energy minister Alexander Novak expects his country's crude oil output in 2019 to be around 555-556 million tons (11.145-11.165 million barrel per day) but said this figure could be revised downwards due to OPEC+ agreements to cut production.
News ID: 3002 Publish Date : 2018/12/20
Unipec, the trading arm of Chinese state oil major Sinopec and China’s largest buyer of US crude oil until recently, is set to resume purchases from the United States “very soon,” and volumes are likely to be significant, a senior Unipec executive told S&P Global Platts on Saturday.
News ID: 2933 Publish Date : 2018/12/16
Japanese refiners will start buying Iranian crude oil in January, but will only continue buying until March to make sure they don’t get on the bad side of Washington in case the 180-day sanction waivers are not extended, S&P Global Platts reports, citing the head of the country’s Petroleum Association.
News ID: 2911 Publish Date : 2018/12/15
US crude oil output growth was expected to slow slightly for this year compared with previous forecasts, the Energy Information Administration said on Wednesday, but at a record 10.88 million barrels per day, the nation will end 2018 as the world’s top producer.
News ID: 2902 Publish Date : 2018/12/13
Brent crude oil futures rose on Monday after OPEC and some non-affiliated suppliers last Friday agreed to a supply cut from January.
News ID: 2880 Publish Date : 2018/12/11
Iran, one of the largest steelmaker in MENA has witnessed a sharp fall in graphite electrode imports. The nation, primarily produce steel through EAF, has imported 3,380 MT GE in Oct’18, registered a downfall of 60% M-o-M against 7,900 MT imported in Sep’18.
News ID: 2852 Publish Date : 2018/12/08
OPEC concluded its 175th meeting with an accord to remove 1.2 million barrels a day of crude from the market, with non-OPEC allies including Russia taking a 400,000 barrel-a-day share.
News ID: 2836 Publish Date : 2018/12/07
Imports of Iranian crude oil by major buyers in Asia hit a five-year low in October, as China, Japan and South Korea sharply cut purchases ahead of US sanctions on Tehran that took effect in early November, government and ship-tracking data showed.
News ID: 2763 Publish Date : 2018/12/01
Iraq has finalized its 2019 crude oil term contracts, with 67% of its exports poised to go to Asia, an oil ministry spokesman said Tuesday.
News ID: 2752 Publish Date : 2018/11/30
China will start loading the crude again in November after it halted purchases in October, according to people with knowledge of the matter.
News ID: 2699 Publish Date : 2018/11/24
Strong European distillate cracks amid a closed product arbitrage have supported certain sweet crude oil grades in the Mediterranean and West African markets to reach three-year highs to Dated Brent.
News ID: 2690 Publish Date : 2018/11/23
Crude oil futures were higher during mid-morning trade in Asia Monday as investors digested the possibility of OPEC and its allies cutting oil production in December.
News ID: 2657 Publish Date : 2018/11/19
Taiwan's Iranian crude oil imports would be capped at 5.99 million barrels in 2018, down 40% from the 9.95 million barrels in 2017 due to the snapback of US sanctions.
News ID: 2634 Publish Date : 2018/11/17
The federal government of Iraq has restarted exports of Kirkuk crude oil through the Kurdistan-Turkey pipeline Friday, paving the way for a rise in loadings from OPEC's second-largest producer.
News ID: 2630 Publish Date : 2018/11/16
OPEC will not respond to US pressure to lower oil prices but will seek to maintain a balanced market, UAE energy minister Suhail al-Mazrouei said Tuesday, after President Donald Trump warned the organization on Twitter not to cut crude oil production.
News ID: 2600 Publish Date : 2018/11/14
An oil export pipeline in Iraq’s semi-autonomous Kurdish region has been upgraded to a capacity of 1 million barrels per day from 700,000 bpd, the Kurdish Regional Government’s natural resources ministry said on Sunday.
News ID: 2507 Publish Date : 2018/11/06
Russia’s oil production increased to 11.41 million barrels per day in October from 11.36 million bpd in September, setting a new post-Soviet record high as the largest oil companies, Rosneft and Lukoil, raised their output according to data from Russia’s Energy Ministry.
News ID: 2491 Publish Date : 2018/11/04
The U.S. has agreed to let eight countries -- including Japan, India and South Korea -- keep buying Iranian oil after it reimposes sanctions on the OPEC producer on Nov. 5, a senior administration official said.
News ID: 2490 Publish Date : 2018/11/04
Oil prices seesawed on Friday as markets were lifted by hopes the United States and China may resolve their trade disputes soon, before being weighed down by a report Washington had granted several countries waivers on Iran sanctions.
News ID: 2488 Publish Date : 2018/11/03
Indonesia’s state oil company Pertamina is seeking to buy crude oil for delivery in the first quarter of 2019 using currencies other than the US dollar, a tender document reviewed by Reuters showed on Tuesday.
News ID: 2458 Publish Date : 2018/10/27