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Crude oil

Kazakhstan’s oil output drops 3% in May vs April to 1.55 million bpd

Kazakhstan cut its oil production (excluding gas condensate) by 3% on a daily basis in May compared to April to 1.55 million barrels per day, Reuters calculations based on data from two sources familiar with preliminary data showed.

Saudi Arabia's 'icing on the cake' oil cut could feed U.S. producers

Saudi Arabia has crafted a complex OPEC+ deal with a view to punishing investors that have bet on falling oil prices but could inadvertently lend long-term support to the rival U.S. energy industry, OPEC+ insiders and market watchers said.

Ports in China's oil hub Shandong scrutinizing old tankers

Ports in China's Shandong province are demanding more detailed information about oil tankers that are more than 15 years old that call at their terminals potentially delaying the unloading of crude shipments in the world's biggest oil importer.

Russia fully enforces its oil output cuts

Russian is fulfilling its oil output cut obligations, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 TV channel following a meeting of the OPEC+ group of leading oil producers.

Nigeria's NNPC winding down crude oil swap contracts

Nigeria's state oil firm NNPC Ltd is winding down crude swap contracts with traders and will pay cash for gasoline imports, its chief executive told Reuters, adding that private companies could begin importing petrol as soon as this month.

Oil gains 2% after U.S. debt deal and jobs data, focus turns to OPEC

Oil prices rose about 2% after the U.S. Congress passed a debt ceiling deal that averted a government default in the world's biggest oil consumer and jobs data fed hopes for a possible pause in interest rate hikes ahead of a meeting of OPEC and its allies this weekend.

Oil edges up after steep losses ahead of U.S. debt ceiling vote

Oil prices edged up after steep losses in the prior session, as market participants awaited an expected vote on a bipartisan deal to lift the $31.4-T U.S. debt ceiling.

Top shipper of Russian oil secures Indian cover as Western certifiers exit

An Indian agency has stepped in to provide safety certification for most of Gatik Ship Management's fleet, a major carrier of Russian oil to India, after Lloyd's Register and the American Bureau of Shipping withdrew classification for many of its vessels, records show.

Mexico's gasoline independence dream sinks in dirty fuel oil glut

Mexico's president took office in late 2018 pledging to boost local output of gasoline while phasing out imports, but so far state refineries have instead set a different course: bumper production of highly contaminating fuel oil.

Oil steadies as higher inventories balance U.S debt bill progress

Oil steadied as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill were offset by a report of rising inventories in the world's biggest oil consumer.