Brent crude futures rose 14 cents, or 0.17%, to US $82.59 a barrel by 0800 GMT. U.S. West Texas Intermediate crude futures rose 13 cents, or 0.17%, to US $77.90
Oil prices crashed by 4% early on Wednesday morning after confirmation that this weekend’s OPEC+ meeting would be postponed.
Chinese refiners face weaker domestic margins and are grappling with limited fuel export quotas.
EU countries exceeded their target to reduce gas consumption in the period from August 2022 to March 2023.
Crude oil prices moved lower today, after the U.S. Energy Information Administration reported a sizeable inventory build of 8.7 million barrels for the week to November 17.
The costs of decommissioning oil and gas platforms in the UK’s North Sea could overtake capital expenditure in the industry by 2040, a new report from Offshore Energies UK has suggested.
The Federal Government has warned gas producers to stop discouraging awardees in the gas flare commercialisation programme from embarking on the project
The top three emitters are Saudi Arabia’s Aramco, Russian government-owned Gazprom, the National Iranian Oil company, and the top investor-owned companies are ExxonMobil, Shell, BP and Chevron. The list also includes the company led by the president of this year’s international climate negotiations: the Abu Dhabi National Oil Company.
FPSO leasing specialist firm MODEC and drone firm Terra Drone have signed a Memorandum of Understanding for the technical development of inspection drones for floating production, storage, and offloading systems.
The energy sector is poised for a moderately lower start, pressured by low conviction weakness in the underlying commodities and in the broader equity futures. Equity sentiment steadied this morning following the recent run up in the benchmark indices as the markets assessed some disappointing retail results and looked ahead to the release of the Federal Reserve meeting minutes.