U.S. energy consumption, production, and exports have reached record highs in 2018, said U.S. Energy Information Administration (EIA).The United States produced a record amount of energy from various sources in 2018, reaching 96 quadrillion British thermal units (quads)…
Oil prices slipped nearly 2 percent on Tuesday, on track to fall to their lowest levels in over a month as renewed doubts over U.S.-China trade talks stoked concerns over global growth and demand even though U.S. sanctions on Iran and Venezuela tightened supply and helped stem losses…
The International Energy Agency is monitoring developments in global oil markets, and notes that markets are now adequately supplied, and that global spare production capacity remains at comfortable levels.Further tightening of sanctions on Iran will have an impact on its export capacity…
Oil prices edged lower on Wednesday after government data showed U.S. crude stocks unexpectedly rose last week, though disruptions to Venezuela's crude exports limited losses.Brent crude futures lost 1 cent to $67.96 a barrel at 10:48 a.m. EST (1448 GMT)…
Oil rose nearly 2 percent on Tuesday as attention centered on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining U.S. inventories.Despite concerns about weaker demand due to an economic slowdown…
Oil prices rose to new 2019 highs on Tuesday, supported by OPEC supply cuts and falling output from Iran and Venezuela because of U.S. sanctions.Brent crude oil futures were up 16 cents at $67.70 a barrel at 1415 GMT, having earlier risen to a 2019 peak of $68…
Venezuela's state-run oil firm PDVSA has been unable to resume crude exports from its primary port since last week's massive power outage, essentially crippling the OPEC nation's principal industry, people familiar with the matter said on Monday…
United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company…
Record U.S. output, exports offset some of OPEC's cuts.Oil prices were broadly steady on Friday as surging U.S. supply and concerns of a global economic slowdown were offset by falling OPEC output.International Brent crude futures were at $66…
An oil tanker carrying U.S. crude oil is offloading its cargo at a Chinese port on Friday, marking China's first import from the United States since late November, according to trade sources and Refinitiv data.Trade tensions between the United States and China cut U…
Dallas-based oil and gas company Sentinel Midstream is planning to develop a deepwater crude oil export terminal, located near Freeport, Texas. The completed facility will be capable of fully loading Very Large Crude Carrier (VLCC) vessels.Texas…
Iranian Oil Minister Bijan Zanganeh said on Thursday U.S. sanctions against his country were 'fully illegal' and Tehran would not comply with them.Zanganeh, speaking at a joint news conference in Baghdad with Iraqi Oil Minister Thamer al-Ghadhban…
Top oil exporter Saudi Arabia plans to lower its shipments further in February as it follows through on a global deal to cut output to prevent a build-up in supplies.Saudi Energy Minister Khalid al-Falih told a news conference in Riyadh on Wednesday that the kingdom would export 7…
Crude tanker rates have continued to strengthen during the early part of the fourth quarter of 2018, particularly in the Atlantic Basin with Aframax tanker rates in this region attaining levels not seen since December 2016 and Suezmax tanker rates averaging the highest since March 2017…
Oil prices fell more than 2 percent on Tuesday after U.S. President Donald Trump put pressure on OPEC not to cut supply to prop up the market.Brent dropped $1.97 a barrel, or 2.8 percent, to a low of $68.15 before recovering to around $68.52…
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