Oil edges up, but set to post second monthly fall on virus spread
Global oil prices edged up on Friday, but are on track for a second monthly fall on growing concerns that the rise in COVID-19 cases in Europe and the United…
Oil climbs as hurricane shuts U.S. output, bouncing back from 5% slide overnight
Oil prices on Thursday recovered slightly from a 5% slump in the previous session, gaining support from the prospect of tighter short-term supply with two-thirds of U.S. output shut in…
Oil falls 2% as rise in U.S. crude stocks fans oversupply fears
Oil prices slid about 2 percent on Wednesday, giving up most of the previous day's gains, as a surge in U.S. crude stocks and growing coronavirus infections in the United…
Oil falls as COVID-19 case surge stokes demand concerns
Oil extended last week's losses on Monday, falling nearly 2% as a surge in COVID-19 infections in the United States and Europe prompted concern over crude demand, while the prospect…
Libya’s troubled oil sector sees new revival
Libya's oil sector, shattered by unrest since the toppling of long-time leader Muammar Gaddafi in 2011, is back on the rise. The easing of a blockade by eastern forces, which…
Oil slips on weaker demand outlook after U.S. gasoline stocks build
Oil prices dropped in early trade on Thursday, adding to heavy losses overnight, after a build in U.S. gasoline inventories pointed to a deteriorating outlook for fuel demand as coronavirus…
Oil price falls after U.S. inventory build feeds oversupply fears
Oil prices eased on Wednesday after a surprise build-up in U.S. crude stockpiles stoked concerns about a global supply glut even as a spike in global COVID-19 cases fuelled fears…
Oil prices down again as resurgence of coronavirus cases threatens recovery
Oil prices slipped for a fourth straight day on Tuesday on worries a resurgence of coronavirus cases globally is stifling a promising recovery in fuel demand, while growing output from…
Libya’s Abu Attifel oilfield expected to restart from Oct 24
Libya's 70,000-barrels-per-day Abu Attifel oilfield is expected to begin its restart on Oct. 24 after being shut down for months, two engineers there said. Sub-stations at the field were expected…
Oil prices decline after China economic data disappoints
Oil prices fell on Monday after reports that China's third-quarter economic growth did not rise as much as expected, underscoring concerns that surging coronavirus cases globally are impacting demand in…
Oil falls as possible OPEC+ supply boost, COVID-19 spike weigh on sentiment
Oil prices fell on Friday on concerns that major producers will move ahead with plans to ease their supply cuts even as a spike in COVID-19 cases in Europe and…
Oil holds gains on shrinking U.S. stockpiles
Oil prices rose slightly in early trade on Thursday after data showed U.S. crude stockpiles fell last week, adding to 2% gains overnight, as OPEC and its allies were seen…
IEA says oil producers may struggle to gauge demand amid second wave
Global oil stocks which rose during the height of the pandemic are being steadily reduced, the International Energy Agency (IEA) said on Wednesday, but a second wave is slowing demand…
Oil steady as rising coronavirus cases stokes demand concerns
Oil prices were steady on Wednesday on concerns that fuel demand will continue to falter as rising coronavirus cases across Europe and in the United States, the world's biggest oil…
Libya’s NOC lifts force majeure on Sharara oilfield
Libya's National Oil Corporation (NOC) said it was lifting force majeure on Sharara oilfield from Sunday, and a Libyan source said initial output there will be 40,000 barrels per day…
Hurricane Delta shuts most U.S. offshore oil output in 15 years
A strengthening Hurricane Delta dealt the greatest blow to U.S. offshore Gulf of Mexico production in 15 years, halting most of the region's oil and nearly two-thirds of its natural…
Oil prices pause in week-long surge Norwegian strike drives strong gains
Oil prices eased a few cents early in trading on Friday in a breather at the end of a week of big gains propelled by a strike in Norway that…
Norway strike could knock out a quarter of oil, gas output next week
A strike by Norwegian oil workers could knock out almost a quarter of the country's petroleum production by Oct. 14, operators say, raising the prospect of further price rises on…
Oil prices rise as Hurricane Delta approaches U.S. Gulf of Mexico
Oil prices rose on Thursday as oil workers evacuated rigs in the U.S. Gulf of Mexico ahead of Hurricane Delta, though fuel demand concerns persisted on fading chances for an…
Oil prices fall as Trump cancels aid talks, U.S. crude stockpiles rise
Oil prices fell on Wednesday after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected increase in U.S. crude…
Reports Libyan oil production rose to 290,000 bpd
Libyan oil production has risen by about 20,000 barrels per day (bpd) from last week to reach 290,000 bpd as exports ramp up, a Libyan oil source told Reuters on…
Oil prices claw back 2% after upbeat signals from Trump doctors
Oil prices rose about 2% on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a…
Oil drops for second day as worsening pandemic threatens demand drop
Oil prices fell nearly 1% on Friday, extending losses into a second day as rising production of crude comes amid a worsening COVID-19 pandemic which threatens to bring more restrictions…
Oil holds steady on hopes for U.S. stimulus agreement
Oil prices were little changed in early trade on Thursday after U.S. lawmakers postponed a vote on a $2.2 trillion coronavirus relief package in hopes of reaching a bipartisan deal,…
Oil drops 2nd day as surging coronavirus cases prompt demand worries
Oil prices fell for a second day on Wednesday, extending big losses from the previous session amid rising concerns about fuel demand as the coronavirus pandemic worsens. Brent crude dropped…
Russian energy minister warns of COVID-19 risks for global oil
Russian Energy Minister Alexander Novak said on Monday that the global oil market has been stable for the past few months and the balance between supply and demand has been…
Oil slips as surge in virus cases cloud demand recovery
Oil prices dipped on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with the main crude benchmarks on track for their first monthly falls…
Oil gains but heading for weekly fall over coronavirus demand
Oil prices rose on Friday but are on track for a weekly fall because of rising concerns about the global resurgence of coronavirus infections and its effects on fuel demand,…
Norway oil drilling rig companies agree on wage deal with workers
Three Norwegian labour unions agreed on a wage deal with the owners of floating offshore oil rigs, preventing a strike that could eventually have halted the exploration for new oil…
Oil falls on fuel demand growth concerns as coronavirus lingers
Oil futures fell on Thursday on concerns the economic recovery in the United States, the world's biggest oil consumer, is slowing as the coronavirus outbreak lingers and a resurgence in…
Libya’s NOC says output to rise as it seeks to revive oil industry
Libya's National Oil Company said it expected oil production to rise to 260,000 barrels per day (bpd) next week, as the OPEC member looks to revive its oil industry, crippled…
Oil falls after surprise rise in U.S. crude inventories
Oil prices fell on Wednesday after an industry group reported a rise in U.S. crude inventories against expectations for a decline, adding to worries about demand that led to a…
Oil prices steady as third storm in month takes aims at U.S.
Oil prices edged higher on Monday as a tropical storm took aim for the U.S. Gulf of Mexico region halting some production, though price gains were capped by the potential…
Some Libyan oil facilities restart operations
Workers at Libya's major Sharara field have restarted operations, two engineers working there said, after National Oil Corporation (NOC) announced a partial lifting of force majeure. They said flaring had…
Libya’s NOC lifts force majeure on oil, except where fighters remain
Libya's National Oil Corporation (NOC) lifted force majeure on what it deemed secure oil ports and facilities on Saturday, but said the measure would remain in place for facilities where…
Libyan oil producer wants demilitarisation of facilities before resuming operations
The Libyan National Oil Corporation (NOC), which operates Libya's energy sector, said it would not resume exports until oil facilities were demilitarised. The NOC was reacting to a statement by…
Oil falls as demand worries re-emerge, crews return to U.S. Gulf rigs
Oil prices fell on Thursday, after rising in the two previous sessions, as concerns about weak fuel demand re-emerged after production platforms in the southeastern United States took steps to…
Oil gains as hurricane shuts U.S. output, stockpiles fall
Oil prices rose on Wednesday, extending gains from the previous session, as a hurricane disrupted U.S. offshore oil and gas production and an industry report showed a big drop in…
Fossil fuel demand to take historic knock amid COVID-19 scars -BP
Fossil fuel consumption is set to shrink for the first time in modern history as climate policies boost renewable energy while the coronavirus epidemic leaves a lasting effect on global…
Oil mixed as storm threatens U.S. gulf production
Oil prices were mixed on Monday with U.S. crude rising as a tropical storm in the Gulf of Mexico forced rigs to shut down, but the gains were kept in…
Iranian fuel tankers round Africa en route to the Atlantic
Two Iranian-flagged tankers transporting fuel are sailing round Africa’s Cape of Good Hope en route to the Atlantic Ocean, according to Refinitiv Eikon’s vessel tracking data. The medium-size vessels Forest…
Oil prices add to losses as supplies swell amid weak demand
Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand for fuels. Brent crude was…
UPDATED: Tanker expected to load stored crude from Libya’s Es Sider port this week
An oil tanker is expected to start loading a 630,000 barrel crude cargo later this week from storage tanks at Libya's blockaded Es Sider port, according to a shipping source…
Oil prices slip as growing stockpiles signal bumpy fuel demand recovery
Oil futures fell in early trade on Thursday, paring overnight gains, on worries about fuel demand after data showed U.S. crude stockpiles rose last week, rather than dropping as expected,…
Oil falls further amid growing alarm over coronavirus second wave
Oil futures fell further on Wednesday after big declines the previous session with Brent sliding below $40 a barrel for the first time since June as COVID-19 cases rebounded in…
Libya oil units halt operations due to spread of virus
Two affiliates of Libya's National Oil Corp (NOC) have suspended some work because of the spread of the coronavirus, they said in statements posted online on Monday. The country's biggest…
IEA sees oil market stuck between no major slowdown but stalled recovery
The global economy is likely not headed for any major slowdown due to COVID-19 but piled-up storage and uncertainty over China's oil demand cloud oil markets' recovery, an official with…
Oil drops more than $1 after Saudi price cuts, demand optimism fades
Oil prices dropped more than $1 a barrel on Monday, hitting their lowest since July, after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five…
Oil falls 1% on lacklustre demand, set for biggest weekly drop since June
Oil futures slipped 1% on Friday, with prices on both sides of the Atlantic heading for their biggest weekly drops since June, as lacklustre demand and ample fuel supplies offset…
Oil holds steady near multi-week lows on demand worries
Oil prices edged up on Thursday, but held near multi-week lows hit overnight after U.S. data showed gasoline demand fell and recovery from the COVID-19 pandemic was lagging. U.S. West…
Oil rises after U.S. inventories draw, optimism of economic recovery
Crude oil futures extended gains on Wednesday after a bigger-than-expected draw in U.S. crude stockpiles and as solid U.S. and Chinese factory activity fuelled optimism of a recovery from the…
Exxon Mobil considering global job cuts
Exxon Mobil Corp is assessing possible worldwide job cuts, a spokesman said on Wednesday, after the company announced a voluntary lay-off programme in Australia. Exxon is the latest oil major…
Oil drifts down as U.S. producers, refiners avoid worst of storm
Oil prices fell on Friday as a massive storm raced inland past the heart of the U.S. oil industry in Louisiana and Texas without causing any widespread damage to refineries.…
Oil prices in a holding pattern as WTI slips, Brent inches higher
Oil prices were in a holding pattern on Thursday as a massive storm in the Gulf of Mexico raced towards the heart of the U.S. oil industry, forcing oil rigs…
Brent rises on U.S. output cuts ahead of biggest storm threat in 15 years
The price of Brent crude oil edged higher on Wednesday, lifted by U.S. producers shutting most of their offshore output in the Gulf of Mexico ahead of Hurricane Laura and…
Tanker to load 30,000 tonnes of condensate from Libya’s Brega port
The Valle di Siviglia tanker arrived at Libya's Brega port on Monday to load 30,000 tonnes of condensate to allow for continued gas production for local power plants, the National…