Crude Oil , International

Oil Jumps 4% on Latest COVID-19 Vaccine Progress

WTI nears $42/bbl on news that two vaccines are in the pipeline.

November 16, 2020

Crude Oil , Trade , International

Iran Says Exports Hit 700,000 Barrels Per Day of Oil, Later Denies

An Iranian official said on Nov. 11 that Tehran exported up to 700,000 bbl/d of oil since March, but was later quoted by an Iranian news agency casting doubt on the figure which had been kept secret.

November 13, 2020

Business , Exploration & Production , International , Acquisitions & Divestitures

Nigeria Case Against JP Morgan over Oil Deal to Go to Trial

The lawsuit against JP Morgan filed in the English courts in 2017 relates to the purchase of the offshore OPL 245 oil field in Nigeria by oil majors Shell and Eni in 2011.

November 12, 2020

Trade , International , Acquisitions & Divestitures

Australia-China Row Halts Woodside LNG Asset Sale

Woodside Petroleum had been in talks with China's national oil firms, including PetroChina, and second-tier firms to sell a modest stake in the linked Scarborough gas field and Pluto LNG Train 2 project.

November 12, 2020

Legislation , International , Infrastructure , Pipelines

Sanctions on Russia’s Nord Stream Gas Pipeline Included in Annual US Defense Bill

The $11 billion Nord Stream 2, led by Russia's state energy company Gazprom, would double its existing pipeline capacity to take gas undersea to Europe via Germany.

November 12, 2020

Exploration & Production , Crude Oil , International

OPEC Expects Coronavirus to Curb Oil Demand Recovery into 2021

Ongoing pandemic will make it more difficult for the cartel to support the market.

November 11, 2020

Crude Oil , Trade , International

Oil Prices Soar 8% on Promising COVID-19 Vaccine Results

Oil prices surged about 8% on Nov. 9, its biggest daily gain in more five months, after Pfizer announced promising results for its COVID-19 vaccine.

November 9, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 9, 2020)

An extra bucket of cold water—the Convent refinery shutdown in Louisiana by Shell is more meaningful than it seems, Stratas Advisors says in its latest oil price forecast.

November 9, 2020

Crude Oil , Trade , International

Oil Prices Rise with Brent Topping $40 as Joe Biden’s Win Buoys Risk-taking

"Oil prices surged on Monday benefiting from a risk-on stance and a weaker U.S. dollar driven by Joe Biden becoming president-elect," said Giovanni Staunovo, oil analyst for UBS.

November 9, 2020

Crude Oil , Trade , International

Saudi Arabia Cuts December Crude Prices to Asia

Saudi Aramco was expected to maintain or slightly cut its December official selling prices for Asian buyers, according to a Reuters survey.

November 5, 2020