Trade

Crude Oil , Trade , International

Iran’s Oil Exports Jump in September Defying US Sanctions

Exports have shrunk from over 2.5 million bbl/d since the U.S. withdrew from a nuclear deal with Iran and reimposed sanctions in 2018. Still, Iran has been working to get around the measures and keep exports flowing.

September 25, 2020

Business , Crude Oil , Trade , International

Oil-trading Bribery Probe Widens with new US Charges, Guilty Pleas

Authorities in the United States and Brazil are investigating improper payments to officials at Petrobras, Brazil's state-run oil company, as part of Brazil's far-reaching corruption probe, known as Car Wash.

September 24, 2020

Crude Oil , Trade , International , Midstream

Column: China’s US Crude Oil Imports to Hit Record in September

Vessel-tracking and port data compiled by Refinitiv indicates China will import 867,300 bbl/d of U.S. crude oil in September, exceeding 653,870 bbl/d in August and 693,500 bbl/d in July.

September 22, 2020

Crude Oil , Trade , International

OPEC Watching Libyan Oil Restart Closely for Deeper Supply Cuts

OPEC member Libya is exempt from cutting oil output under a deal by OPEC and allies, known as OPEC+. A restart in Libya supply could force other producers to make further reductions to support prices.

September 21, 2020

Petrochemicals , Crude Oil , Trade , International , Storage

What’s Affecting Oil Prices This Week? (Sept. 21, 2020)

The first cut is the deepest…or not? OPEC+ will likely need to add oil output cuts soon, Stratas Advisors says in its latest oil price forecast.

September 21, 2020

Crude Oil , Trade , International

Saudi Energy Minister Warns Oil Market Gamblers Will Be Hurt ‘Like Hell’

The comments by Prince Abdulaziz bin Salman, OPEC's most influential minister, came after a virtual meeting of a key panel of OPEC and allies, led by Russia, known as OPEC+.

September 18, 2020

Crude Oil , Trade , International

Saudi Arabia Chafes at ‘False Promises’ on Oil Cuts from OPEC Partners

Moves to flout deal terms on oil cuts damage reputation of OPEC+, Saudi Arabia’s energy minister says.

September 17, 2020

Crude Oil , Trade , International

As OPEC+ Meets This Week, UAE Emerges As Main Laggard

The United Arab Emirates has emerged as a major laggard in delivering oil output cuts in August, figures used by OPEC+ showed on Sept. 16.

September 16, 2020

Crude Oil , Trade , International

Oil Prices Jump Above $41 As Hurricane Sally Hits US Output

Oil prices gained ahead of Hurricane Sally's expected landfall on the U.S. Gulf Coast. Brent crude futures gained 92 cents, or 2.3%, to settle at $40.53/bbl, while WTI crude rose $1.02, or 2.7%, to settle at $38.28/bbl.

September 16, 2020

Crude Oil , Trade , Storage

Oil Industry Paints Grimmer Picture of Pandemic’s Harm to Demand

OPEC cut its outlook for demand in 2020, saying world oil demand would fall by 9.46 million bbl/d this year, an increase of 400,000 bbl/d from its previous report.

September 15, 2020