Refined Products

Oil futures eased from their greatest levels in weeks as investors waited for a meeting of the Federal Reserve later on this week for indication of additional rate cuts. Falls were limited nevertheless by issues of supply disturbances in case of more U.S. sanctions on major suppliers Russia and Iran. Brent unrefined futures fell 21 cents, or 0.3%, to $ 74.28 a barrel by 0110 GMT after settling at their highest level given that Nov. 22 on Friday. U.S. West Texas Intermediate crude dropped 30 cents, or 0.4%, to $70.99 a barrel after reaching its highest settlement level considering that...

3 of Canada's most significant oil producers, Suncor Energy, Cenovus Energy and Imperial Oil, on Thursday projected higher production in 2025, betting on durable need for Canadian crude to U.S. and worldwide markets. Fuel need in the United States, the most significant location for Canadian crude, is expected to rise next year as U.S. industrial activity is most likely to get an increase from a cut in interest rate, according to the U.S. Energy Info Administration. Calgary, Alberta-based Suncor forecast 2025 production to be in between 810,000 and 840,000 barrels per day (bpd) next year, a. 4.4% increase at midpoint...

Imperial Oil on Thursday forecast greater crude production in 2025, as the Canadian energy significant anticipates to ramp up output from existing oil sands possessions. The business, majority-owned by Exxon Mobil, expects higher production from its Kearl and Cold Lake oil sands properties in Alberta. Imperial estimated 2025 production in the series of 433,000 to 456,000 barrels of oil comparable each day, compared to 420,000 to 442,000 boped it anticipated for 2024. Peers Cenovus Energy and Suncor Energy also forecast greater production next year, as Canadian oil manufacturers bank on higher exports to Asia and the U.S. West Coast through...

Suncor Energy on Thursday forecasted higher oil and gas production and lower costs in 2025, as it intends to enhance output from its oil sands assets while keeping a tight cover on expenses. The second-largest Canadian oil manufacturer expects production to be in between 810,000 and 840,000 barrels each day (bpd) next year, up from its 2024 price quote of 770,000 to 810,000 bpd. Suncor's operations has actually steadily enhanced since former Exxon Mobil executive Rich Kruger took control of as CEO in April 2023. Canadian oil producers have been encouraged to raise their production targets as export capability has...

Oil rates were little bit changed in Asian trade on Thursday as projections of weak need and a. higherthanexpected rise in U.S. gas and extract. inventories stemmed gains from an additional round of EU. sanctions threatening Russian oil flows. Brent crude futures were up 14 cents at $73.66 a. barrel at 0519 GMT. U.S. West Texas Intermediate crude futures. increased 6 cents to $70.35. Both criteria rose over $1 each. on Wednesday. OPEC cut its need development forecasts for 2025 for the fifth. straight month on Wednesday and by the biggest quantity yet. Investors will be carefully keeping track of...

Oil costs were little altered in early Asian trade on Thursday as forecasts of weak demand and a. higherthanexpected increase in U.S. gasoline and distillate. inventories stemmed gains from an extra round of European. Union sanctions that threatened Russian oil flows. Brent unrefined futures were down 5 cents at $73.47 a. barrel at 0141 GMT. U.S. West Texas Intermediate unrefined futures. fell 11 cents to $70.18. Both standards increased over $1. each on Wednesday. OPEC cut its demand growth forecasts for 2025 for the 5th. straight month on Wednesday and by the biggest amount yet. Investors will be carefully monitoring...

Oil costs increased on Wednesday, with market participants anticipating demand to rise in China, the world's largest unrefined importer, after Beijing announced it would unwind financial policy to try to stimulate economic development. Brent unrefined futures got 24 cents, or 0.3%, to $ 72.43 a barrel by 0730 GMT, while U.S. West Texas Intermediate crude futures increased 24 cents, or 0.4%, to $68.83. China stated on Monday it would adopt an appropriately loose financial policy in 2025 as Beijing attempts to spur its economy with the very first easing of its stance in 14 years. Oil costs managed to find...

Oil prices increased somewhat early on Wednesday, with market participants anticipating to see demand rising in China next year after Beijing revealed a looser monetary policy to stimulate financial growth. Brent unrefined futures gained 10 cents, or 0.14%, to $ 72.29 a barrel by 0131 GMT, while U.S. West Texas Intermediate unrefined futures rose 9 cents, or 0.13%, to $68.68. China said on Monday it would embrace properly loose financial policy in 2025 as Beijing attempts to spur its economy with the very first easing of its stance in 14 years. Chinese crude imports also grew annually for the first...

Fuelmakers in California might face more headwinds next year as new legislation takes result and refining margins stay weak, the U.S. Energy Information Administration (EIA) said on Monday. WHY IT IS NECESSARY California, the most populous U.S. state, regularly deals with some of the nation's highest typical gasoline costs, resulting in a frequently tense relationship in between the state and oil business. The state is geographically isolated from the Gulf Coast and Midwest refining centers, and should produce all its own motor fuels or import them from Asia. Nevertheless, imported fuels are most likely to become a more vital source...

Oil prices edged lower on Friday, with weak need in focus after the OPEC+ group held off planned supply boosts and extended deep output cuts to the end of 2026. Brent crude futures fell 6 cents, or 0.1%, to $72.03. per barrel by 0336 GMT. U.S. West Texas Intermediate crude. futures lost 1 cent to $68.29 per barrel. For the week, Brent was on track to drop more than 1%, while. WTI hung on to a limited 0.1% gain. The Company of the Petroleum Exporting Countries and. its allies on Thursday pressed back the start of oil output increases. by...

Oil prices slipped in early Asian trading on Friday, with weak demand in focus after the OPEC+. group held off prepared supply boosts and extended deep. output cuts to the end of 2026. Brent unrefined futures fell by 9 cents, or 0.1%, to $72. per barrel by 0116 GMT. U.S. West Texas Intermediate crude. futures fell by 4 cents, or 0.1%, to $68.27 per barrel. For the week, Brent was on track to drop more than 1%, while. WTI hung on to a limited 0.1% gain. The Company of the Petroleum Exporting Countries and. its allies on Thursday pressed back...

Oil rates were mainly stable on Thursday ahead of an OPEC+ conference later in the day, with investors waiting to see what the manufacturer group would do next on supply cuts while likewise keeping track of geopolitical stress in the Middle East. Brent unrefined futures increased 6 cents, or 0.08%, to $ 72.37 a barrel by 0400 GMT, while U.S. unrefined futures were at $68.61 a barrel, up 7 cents, or 0.10%. Both standards fell nearly 2% on Wednesday. A single bank sold a large volume of U.S. oil futures contracts in early afternoon trading on Wednesday, a person with...

Oil futures reduced from their greatest levels in weeks as traders took profit while awaiting a meeting of the Federal Reserve later on today for sign of more rate cuts. Falls were restricted, nevertheless, by concerns of supply interruptions in the event of more U.S. sanctions on significant suppliers Russia and Iran. Brent unrefined futures fell 21 cents, or 0.3%, to $ 74.28 a barrel by 0424 GMT after settling at their greatest level considering that Nov. 22 on Friday. U.S. West Texas Intermediate crude dropped 30 cents, or 0.4%, to $70.99 a barrel after reaching its highest settlement level...

It's constantly appealing to attempt and overanalyse modifications in the crude oil market and Saudi Arabia's choice to cut its main costs for Asian clients to the lowest level in four years is one such example. Saudi Aramco, the state-controlled oil business of the world's biggest oil exporter, stated on Sunday it is lowering the official market price (OSPs) for refiners in Asia, which buy about 70% of the kingdom's crude. The OSP for the benchmark Arab Light grade for January-loading cargoes was reduced to a premium of 90 cents a. barrel over the Oman/Dubai average, down 80 cents from...

OPEC oil output increased for a. 2nd month in November as Libya's production recovered after. resolution of a political crisis, a Reuters survey discovered, however. members making cuts vowed to the broader OPEC+ alliance kept. output broadly constant. The Company of the Petroleum Exporting Countries pumped. 26.51 million barrels per day (bpd) last month, up 180,000 bpd. from October, the study revealed on Tuesday, with Libya once again. posting the biggest boost. Libyan output recovered after resolution of a dispute over. control of the central bank, allowing complete production to resume. at oilfields and applying down pressure on rates. The....

OPEC+ is most likely at its meeting on Thursday to extend its latest round of oil output cuts up until the end of the very first quarter, four OPEC+ sources told Reuters, to offer additional assistance for the oil market. OPEC+, which pumps about half the world's oil, has actually been slowly intending to unwind output cuts through 2025. However, a. downturn in global need and increasing output outside the group. pose hurdles to that plan and have actually weighed on costs. It is most likely that this reduction will be extended for the. first quarter, one of the sources...

Saudi Arabia clawed back market share of Asia's crude oil imports in November, while Russia surrendered a few of its barrels in what might be an early sign of a shift in market characteristics. Asia's imports from Saudi Arabia, the world's biggest crude exporter, rose to 5.83 million barrels per day (bpd) in November, up from 5.28 million bpd in October, according to data put together by LSEG Oil Research Study. On the other hand Russia's products to Asia, the top-importing region, dropped to 3.51 million bpd in November, down from October's 3.96 million and the lowest given that January,...

OPEC+ will hold its Dec. 1 oil policy meeting online, two OPEC+ sources stated on Monday, with the manufacturer group set to discusss a more hold-up to strategies to raise output. OPEC+, which consists of the Company of the Petroleum Exporting Countries (OPEC) and allies such as Russia, may once again press back output increases since of weak global oil demand, OPEC+ sources informed Reuters last week. Both of the sources on Monday decreased to be recognized by name. OPEC, which has actually not specified the format of the conference, did not respond right away to a request for remark....

Oil costs hovered near twoweek highs on Monday following 6% gains recently, as geopolitical tensions heightened between western powers and major oil manufacturers Russia and Iran, raising risks of supply disturbance. Brent crude futures climbed up 13 cents, or 0.2%, to $ 75.30 a barrel by 0115 GMT, while U.S. West Texas Intermediate unrefined futures were at $71.38 a barrel, up 14 cents, or 0.2%. Both contracts recently notched their greatest weekly gains given that late September to reach their highest settlement levels since Nov. 7 after Russia fired a hypersonic rocket at Ukraine in an alerting to the United...

China's crude oil imports are set to rebound in November after sharp price cuts increased demand for Iraqi and Saudi oil, offsetting a drop in Iranian supply, according to experts, traders and shiptracking data. A downturn of 17% in global oil rates in the 3rd quarter likewise stimulated Chinese stockpiling demand while refiners prepare for greater seasonal fuel usage ahead of the Lunar New Year vacation looking in late January, analysts say. The November rebound in volumes for the world's leading crude oil importer comes after 6 successive months of yearly declines as Chinese refiners dealt with weak margins and...

Oil rates increased on Friday after Russia said it had fired a ballistic missile at Ukraine and alerted of a widening dispute, raising the possibility of tightening up unrefined materials. Brent unrefined futures gained 14 cents, or 0.2%, to $ 74.37 a barrel by 0007 GMT. U.S. West Texas Intermediate crude futures increased 17 cents, or 0.2%, to $70.27 per barrel. Russian President Vladimir Putin said on Thursday that the Ukraine war was growing into a worldwide dispute after the U.S. and Britain allowed Ukraine to strike Russia with their weapons. Putin, who said Russia responded to using U.S. and...

Federal governments around the globe are ploughing billions of dollars into fossil fuel subsidies to shelter people from higher energy costs, but that comes at a. financial burden, develops ineffectiveness, and obstructs the objective of. decreasing total usage. At the U.N.'s COP29 environment top in Baku, conversations are. continuous over decreasing distortions and inefficiencies produced by. aids - a crucial to decrease the production and use of fossil. fuels, which contribute significantly to climate modification and. pollution. JUST HOW MUCH DO GOVERNMENTS SPEND ON FOSSIL FUELS? The International Energy Company (IEA) computed that fossil. fuel consumption aids stood at $620...

Iran's condensate exports to China and the United Arab Emirates will most likely decrease if U.S. Presidentelect Donald Trump tightens up sanctions on Tehran, but supply to Venezuela would continue, analysts at consultancy FGE said. Balancing out the loss in Iranian supply, more condensate will be produced from projects in Qatar and Saudi Arabia from 2026, they added. Condensate, an ultra light oil, is usually processed at splitters to produce mainly petrochemical feedstock naphtha or used as a diluent for heavy crude such as those from Venezuela. Iran presently exports 100,000-150,000 barrels daily (bpd). of condensate which generally goes to...

Oil prices were little changed in early trading on Tuesday, waiting for more rate direction from OPEC's month-to-month report after China's stimulus strategy and oversupply issues took the wind out of markets in prior sessions. Brent unrefined futures fell 1 cent to $71.82 a barrel, by 0158 GMT. U.S. West Texas Intermediate unrefined futures were at $68.07 a barrel, up 3 cents. Both agreements had fallen by more than 5% over the previous two trading sessions. China on Friday unveiled a 10 trillion yuan ($ 1.40 trillion) financial obligation package to ease city government financing strains, however experts said it...