Crude oil
Saudi Aramco sees 'sound' oil outlook for H2 on China, India demand
Saudi Aramco believes market fundamentals remain "sound" for the second half as demand from emerging markets led by China and India will offset recession risk in developed markets, CEO Amin Nasser told an industry gathering.
Nigeria amasses $3-B debt to traders for oil swaps
Nigeria has accumulated up to $3 B in debts to trading houses such as Vitol and oil majors such as bp for fuel supplies and is trailing four to six months behind schedule in repaying them with cargoes of crude.
Oil resumes slide on demand worries after latest rate hikes
Oil dropped over 2% and was heading for a weekly decline, as a UK interest rate hike added to concern over economic growth that outweighed lower U.S. crude stocks and other signs of tighter supplies.
U.S. crude inventories post surprise draw, fuel stocks rise
U.S. crude stocks fell while gasoline and distillate inventories rose, the Energy Information Administration said.
China's Penglai crude shipments land in Singapore, Malaysia
Two crude cargoes loaded from China's Penglai oilfields arrived at Singapore and Malaysia in May and June, an unusual export from the world's largest crude importer.
Fire breaks out at Romania's biggest oil refinery
A fire at Romania's Black Sea crude oil refinery Petromidia, the largest in the country, was being brought under control after a blaze broke out, a government emergency response unit said.
Oil extends declines on China growth woes, firmer dollar
Oil prices weakened, extending falls to a third straight day, as the dollar strengthened on a U.S. housing market recovery while fears persisted that monetary stimulus may not be enough to revive growth in China.
Oil falls on mixed Chinese demand picture
Oil prices fell in choppy trading as a clouded oil demand outlook outweighed the potential boost from a cut to China's benchmark lending rates.
China stored massive volume of crude oil in May, giving it options
China added to crude oil stockpiles at the fastest rate in nearly three years in May, as robust imports outweighed near-record refinery processing.
Funds rotate positions from crude oil to distillates
Portfolio investors are rotating positions from crude oil to middle distillates – anticipating that the low level of distillate inventories will keep prices relatively firm even if the global economy and petroleum consumption slow.
- OCI Global completes $1.9-B sale of OCI Methanol to Methanex Corporation 6/30
- Partnership for sustainability: Pekutherm and POLYVANTIS launch circular economy initiative 6/30
- Univation Technologies and C3 AI collaborate to deliver enterprise AI solutions for advanced predictive maintenance across the global petrochemical industry 6/30
- Lloyd’s Register signs strategic collaboration with DAI Infrastruktur for green ammonia Project Ra 6/30
- Alleima expands product portfolio for the urea industry with SAF™ 2906 6/30
- UK's Lindsey oil refinery insolvent, 420 jobs at risk 6/30
