The latest data on money managers’ positioning in the WTI and Brent crude and U.S. natural gas futures showed two contrasting trends—speculators are betting that oil prices would remain low or go even lower while increasing the bets that natural gas prices would continue marching higher.
Crude oil imports in Asia have been nothing to write about so far this year. But the tide is turning, and volumes are beginning to climb. The top contenders for the Asian supplier crown: Russia and Saudi Arabia.
Argentina’s controversial president Javier Milei, a self-described anarcho-capitalist, on taking office enacted strict austerity measures to rein in rampant triple-digit inflation, kick-start the economy and slash a massive fiscal deficit.
Engineering and consulting group Wood has launched a specialised centre for technical, strategic and economic energy transition services in Abu Dhabi, Wood announced on Wednesday.
ARC Resources Ltd. said Tuesday it has entered into a deal to sell all of its offtake from the under-construction Cedar LNG in Canada to Exxon Mobil Corp.
Petro-Victory Energy Corp and BlueOak Investments said they have signed a sale and purchase agreement to acquire onshore Brazilian production firm Capixaba Energia LTDA.
Cairn Oil & Gas, part of Vedanta Group and India’s largest private oil and gas exploration and production company, has entered into a strategic alliance with TechnipFMC to accelerate the delivery of integrated subsea infrastructure for future deepwater projects in India.
Venezuelan oil contractors are continuing their work with Chevron Corp. and have not been warned of an impending shutdown despite a U.S. government deadline to stop producing oil there by early April.
OPEC+ crude production surged last month as Kazakhstan, which has long flouted the cartel’s output quotas, further breached its agreed limit.
Uncertainty has been rife in oil markets of late as Trump’s trade wars threaten global demand just as OPEC+ is set to boost supply and Ukraine peace talks get underway.