More Top Stories in Markets

Oil Gives Up the Year's Gains, Closing at 2022 Low

Prices plunged despite a decision by China, the world's biggest crude importer, to make sweeping changes to its anti-COVID regime.

December 7, 2022

Offshore Rig Market Entering Multi-Year Supercycle

Tightness in supply, staffing constraints and high oil prices all contribute to Esgian’s projected 13% growth in offshore rig demand for 2023.

December 7, 2022

US Natgas Futures Rise 3% on Colder Weather Forecasts

Colder weather forecasts leading to an increased demand for heat prompted natural gas futures in the U.S. to rise.

December 7, 2022

TotalEnergies Plans to Capture 1 Million Tonnes/Year in PNG Megaproject

The Papua LNG project is jointly owned by Exxon Mobil Corp., Santos Ltd. and Kumul Petroleum and produces 5.4 million tonnes of LNG per year.

December 7, 2022

Russia's Output Up 2% Ahead of EU Ban, Price Caps

Company sources said that Russian oil output could fall by 500,000 to 1 MMbbl/d in 2023 after the EU ban.

December 6, 2022

Expert: OPEC’s Production Hold Reveals Shift from Active to Reactive

Oil cartel will take its time to evaluate impact of the EU’s ban on seaborne imports and the G7’s $60/bbl price cap for Russian crude.

December 6, 2022

Oil Falls Over 3% Amid Fears More Fed Interest Rate Hikes Coming

Russian oil caps, OPEC+ inertia and new data challenges hopes that the Fed might slow the pace and intensity of its rate hikes

December 6, 2022

Russia Vows to Sell Oil Only at Market Price in Defiance of G7 Price Caps

So far, Russia's ESPO oil blend was selling for around $79 a barrel in Asian markets on Dec. 5, almost a third higher than the new price caps.

December 5, 2022

What's Affecting Oil Prices This Week? (Dec. 5, 2022)

Stratas Advisors considers the Brent crude outlook following OPEC+'s decision to reduce crude supply by 2 MMbbl/d, along with the $60 price cap on Russian oil implemented by G7 countries, the European Union and Australia.

December 5, 2022

Freeport LNG: Another Production Restart Delay To Year's End

Freeport LNG has missed its U.S. LNG export facility restart date several times since June 2022.

December 5, 2022