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Crude oil

Russia's Ryazan oil refinery restores crude processing to 60% of pre-attack level

Russia's Ryazan oil plant resumed operations at primary oil refining unit CDU-4 this week, increasing its total crude intake to 60% of normal capacity or 169,000 bpd.

More than 20% of global oil refining capacity at risk, analysis finds

More than a fifth of global oil refining capacity is at risk of closure, energy consultancy Wood Mackenzie found in analysis published, as gasoline margins weaken and the pressure to reduce carbon emissions mounts.

Russian oil refining capacity idled by drones reaches 14% of total

Russia's oil refining capacity that was shut down by drone attacks has reached 14% of total.

PetroChina's Jieyang refinery to receive first Venezuelan oil cargo

PetroChina's Jieyang refinery will receive its first direct crude oil cargo from Venezuela, according to trade sources and ship tracking data on Kpler, after Washington temporarily lifted sanctions on the OPEC producer.

U.S. crude and gasoline stockpiles fall as refining ramps up

U.S. crude oil stockpiles fell unexpectedly last week as exports rose and refiners continued to increase activity, while gasoline inventories decreased more than expected.

Oil prices edge down as Russia lifts supplies, jet fuel demand stirs caution

Oil prices edged down early after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel.

Colombia cops seize 7.3-MM gallons of crude in raids on illegal refineries

Colombian police have seized more than seven million gallons of crude oil in raids on illegal refineries, in an operation targeting production of bootleg fuel in Norte de Santander province.

Iraq to curb oil exports to compensate for overproduction

Iraq will reduce its crude exports to 3.3 MM  bpd in the coming months to compensate for any rise above its OPEC+ quota in January and February.

Italy's Saras reports drop in 2023 core profit of refined products ahead of Vitol's takeover

Saras  reported a 41% fall in its full-year comparable core earnings due partly to weaker profitability of refined products, as global commodity trader Vitol prepares to take over the Italian oil refiner later this year.

U.S. crude stocks post surprise drop as refiners ramp up processing

Crude inventories fell by 1.5 MM barrels to 447 MM barrels last week, the EIA said, compared with analysts' expectations in a poll for a 1.3 MM-barrel rise.