World’s Biggest Crude Producer, Saudi Aramco, To Own 20% Stake In Reliance
The world's biggest crude producer will soon own a part of the world's biggest oil refinery. Saudi Aramco will buy a 20 per cent stake in the oil-to-chemicals business of…
Oil Falls About 2.5% As U.S. Gulf Production Returns
Oil fell about 2.5 per cent a barrel on Thursday, weighed down by weakness in US equities markets and an expectation that crude output would rise in the Gulf of…
Aversion Of The Oil Crisis
Part of the panic following ship fuel rules has been addressed by a shift in the type of crude that's being pumped out of the ground globally. As recently as…
Russia And Saudi Arabia Agree To Maintain Oil Cuts For As long As Nine Months
Russian President Vladimir Putin struck a deal with Saudi Crown Prince Mohammed Bin Salman to extend the OPEC+ agreement at current production levels for the rest of this year and…
OPEC Extends Oil Supply Cuts
Opec and its allies look set to extend oil supply cuts next week at least until the end of 2019 as Iraq joined top producers Saudi Arabia and Russia on…
Oil Prices Shoot Up After Iran Shot Down A U.S. Drone
Oil jumped the most this year after Iran shot down a U.S. drone and Donald Trump warned the Persian Gulf nation it made “a very big mistake,” stoking tensions in…
Canadian PM Approves Controversial Oil Pipeline Expansion
Canadian Prime Minister Justin Trudeau on Tuesday approved a controversial expansion of a pipeline to move crude oil to the Pacific coast for shipping overseas. "Today, I am announcing that…
International Trade Tensions Are Hurting Demand For Oil
OPEC said that international trade tensions are hurting demand for oil, slashing its estimates for consumption earlier in the year and predicting further challenges ahead. The organization, due to meet…
ExxonMobil Completes Expansion Of Singapore’s Refinery For Upgrade Of Base Stocks
AMERICAN oil and gas giant ExxonMobil has completed an expansion at its Singapore refinery in Jurong to upgrade the production of its proprietary EHC Group II base stocks, it said…
Rise In Oil Prices Due To Ongoing OPEC Supply Cuts, But Global Demand Uncertainty Persists
KEY POINTS Front-month Brent crude futures, the international benchmark for oil prices, were at $69.10 per barrel at 0021 GMT, up 41 cents, or 0.6 percent, from their last close.…