Crude oil
Oil prices nearly flat as market weighs Chinese demand, North America supply increase
Oil prices were little changed as markets weighed new economic data from China against increasing supply from the Western Hemisphere.
Return of U.S. oil sanctions would clip Venezuela's output gains, analysts say
A possible reimposition of U.S. oil sanctions on Venezuela next month would stagnate the OPEC-member country's crude output, wiping out the small gains it has achieved in recent years.
Crude oil processing in China hit a record high in 2023
Crude oil processing, or refinery runs, in China averaged 14.8 MM bpd in 2023, an all-time high record processing, which came as the economy and refinery capacity grew in China following the country’s COVID-19 pandemic responses in 2022.
Reduced refining capacity, sanctions force Russia to cut oil output
Russia announced additional voluntary cuts in oil supply mainly in the form of production cuts rather than exports, as it faced curtailed refining capacity as well as stricter sanctions.
Azerbaijan's Aliyev says Baku supports green energy, but world needs fossil fuels for now
Azerbaijani President Ilham Aliyev, whose country is due to host the COP29 summit on climate change in October, said that his country is committed to the green energy transition, but that the world cannot abandon fossil fuels in the near future.
Brazil, Guyana, Suriname eye more cooperation in oil and gas
Brazil, Guyana and Suriname have agreed to deepen discussions on cooperation in the oil and gas sector, according to a joint statement released by the countries after a meeting between their presidents.
Venezuela's February oil exports rise, but shipping delays persist
Venezuela's oil exports slightly increased in February to some 670,000 bpd, but ongoing shipping delays worsened a bottleneck of tankers waiting to load, according to documents and vessel monitoring data.
Libya's PFG threatens to close oil facilities to press salary demands
Libya's Petroleum Facilities Guards threatened to close all oil and gas facilities in the country's western region after the end of a 10-day deadline to authorities to meet their demands, including a 67% salary rise.
EIA: U.S. crude stockpiles rise, products draw on low refining rates
U.S. crude oil stockpiles rose last week, while gasoline and distillate inventories fell as refinery maintenance and outages kept activity low.
Russia's Feb oil exports from western ports seen around 8.2 MMt
Russia’s crude oil exports and transit from its western ports are seen at around 8.2 MMt this month, in line with market forecasts.
- Renewable fuels project in Canada begins production 4/19
- Jet fuel demand growth lags as air traffic exceeds pre-pandemic level 4/19
- Jet2.com to use SAF at London Stansted Airport 4/19
- Neste and New Jersey Natural Gas target reducing greenhouse gas emissions with Neste MY Renewable Diesel 4/19
- Cepsa and Evos join up for green methanol storage in Spain and the Netherlands 4/19
- Russia's Bashneft oil company installs anti-drone nets to protect refineries 4/19
