Oil

Oil gains on supply woes after OPEC+ output cuts

By Mohi Narayan NEW DELHI, Sept 6 (Reuters) - Oil prices ticked up in early Asian trade on Wednesday after rising over 1% in the previous session, as markets worried…

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Oil inches higher on OPEC+ supply cut expectations

By Mohi Narayan NEW DELHI, Sept 4 (Reuters) - Oil prices edged higher on Monday, supported by expectations that major producers will supplies tight, and growing hopes that the Federal…

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Oil set to snap two-week losing streak on tightening supplies

By Sudarshan Varadhan SINGAPORE, Sept 1 (Reuters) - Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to…

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Oil dips as China factory activity slows; market eyes US data

By Jeslyn Lerh and Katya Golubkova SINGAPORE, Aug 31 (Reuters) - Oil prices eased on Thursday after data showed a drop in China's manufacturing activity, with investors also eyeing a…

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Oil rises on large US stockpile draw, hurricane jitters

By Trixie Yap and Yuka Obayashi SINGAPORE, Aug 30 (Reuters) - Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S.,…

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Oil steadies as China moves to support economy, tropical storm in focus

China halves stamp duty on stock trades to boost flagging market Tropical Storm Idalia expected to hit Florida as hurricane Fed's Powell says higher rates may be needed By Alex…

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IEA sees slower 2024 oil demand growth, tightening market this year

The International Energy Agency (IEA) on Friday said demand growth for oil next year will be slower than previously forecast, citing lacklustre macroeconomic conditions, a post-pandemic recovery running out of…

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Oil holds steady near four-month high on OPEC+ cuts

Saudi Arabia extends 1 mln bpd output cut to Sept Output cut could be extended longer or deepened - Saudi Arabia Russia to cut exports by 300,000 bpd in Sept…

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Oil prices set for sixth weekly gain as producers pledge output cuts

Saudi, Russia pledge output cuts ahead of OPEC+ meeting OPEC+ unlikely to tweak overall oil output policy U.S. to ensure "energy market promotes growth"U.S. non-farm payroll data in focus By…

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Oil prices rise 1% as US inventory data show robust demand

U.S. crude stocks fell 15.4 million barrels - API data Markets await EIA figures due 1430 GMT China demand concerns linger By Arathy Somasekhar and Trixie Yap SINGAPORE, Aug 2…

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Oil inventory drops set stage for higher prices

By Ahmad Ghaddar, Arathy Somasekhar and Trixie Yap LONDON/HOUSTON/SINGAPORE(Reuters) - Oil inventories are beginning to fall in some regions as demand outpaces supply constrained by deep production cuts from OPEC…

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Britain to grant over 100 new North Sea oil and gas licences

By Sachin Ravikumar LONDON, July 31 (Reuters) - Britain will grant more than 100 new oil and gas licences in the North Sea as part of efforts to tap domestic…

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Oil on track for biggest monthly gains in over a year

Saudi Arabia expected to extend oil cuts into Sept -analysts Exxon CEO sees record oil demand this year and next By Florence Tan and Mohi Narayan July 31 (Reuters) -…

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Oil prices slip on demand concerns, remain on track for weekly gain

By Laura Sanicola and Andrew Hayley July 28 (Reuters) - Oil prices slipped in Asian trade on Friday but were on track for a fifth straight week of gains following…

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Obscure traders ship half Russia’s oil exports to India, China after sanctions

A Liberian-flagged oil tanker set sail in May from Russia's Ust-Luga port carrying crude on behalf of a little-known trading company based in Hong Kong. Before the ship had even…

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Oil eases on higher US stockpiles, caution ahead of likely Fed hike

By Yuka Obayashi and Trixie Yap July 26 (Reuters) - Oil prices eased on Wednesday off three-month highs as industry data showed a stock build in U.S. crude inventories and…

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Oil ticks up as markets assess falling inventories, potential Chinese stimulus

July 21 (Reuters) - Brent oil prices rose in Asian trading on Friday, as markets assessed the prospect of economic stimulus in China after weak economic data, falling inventories in…

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UPDATED: Brent oil hovers over $80 as inflation worries ease

By Natalie Grover LONDON, July 19 (Reuters) - Global oil benchmark Brent hovered above $80 on Wednesday, buoyed by China's pledge to reinvigorate economic growth and expectations the U.S. Federal…

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Oil slips on weak China GDP data, resumption of Libya output

UPDATED: Oil slides more than 1% as Chinese GDP dents demand hopes Chinese economic growth falls short of expectations Two of three Libyan fields have resumed output Russian oil exports…

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Libya’s Sharara and El Feel oilfields has resumed on Saturday evening

BENGHAZI, July 15 (Reuters) - Production at Libya's Sharara and El Feel oilfields, which were shut on Thursday following the abduction of a former finance minister, has resumed on Saturday evening, four…

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Oil supply disruptions boost prices

By Noah Browning LONDON, July 14 (Reuters) - A series of oil supply disruptions across the globe has helped push Brent crude prices above $81 a barrel for the first…

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Oil set for third straight week of gains on tight supply

Several oil fields in Libya shut in protest Shell suspends loadings at Nigeria due to a potential leak U.S. consumer prices rise modestly By Sudarshan Varadhan SINGAPORE, July 14 (Reuters)…

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Oil prices up on cooling US inflation, China trade data

By Jeslyn Lerh and Laura Sanicola SINGAPORE, July 13 (Reuters) - Oil prices climbed on Thursday after U.S. inflation and economic data sparked hopes that the Federal Reserve may have…

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Azerbaijan oil output declines 8% to 15.2 mln metric tons in Jan-June

BAKU, July 12 (Reuters) - Azerbaijan's oil output was at 15.2 million metric tons between January and June, country's, energy minister Parviz Shahbazov said on Wednesday on Twitter, a decline…

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Oil nudges higher on expectations of tighter supply, rising demand

By Laura Sanicola and Trixie Yap July 12 (Reuters) - Oil nudged higher on Wednesday, extending gains for a second session, as planned supply cuts by the world's biggest oil…

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Saudi Arabia and Russia deepen oil cuts, sending prices higher

By Maha El Dahan and Jana Choukeir DUBAI, July 3 (Reuters) - Saudi Arabia and Russia, the world's biggest oil exporters, deepened oil cuts on Monday, sending prices higher despite…

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Oil heads for first monthly gain this year as supply tightens

By Arathy Somasekhar and Muyu Xu June 30 (Reuters) - Oil prices edged higher on Friday with Brent poised for its first monthly gain this year, as a big drawdown…

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Oil prices fall on concerns of slow fuel demand, weak China data

Rate hike expectations boost fears of slow economic growth Oil price inter-month spreads imply firm near-term demand By Yuka Obayashi TOKYO, June 29 (Reuters) - Oil prices fell on Thursday,…

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Oil benchmark Brent’s price structure shows over-supply concern

By Shadia Nasralla LONDON, June 28 (Reuters) - Oil traders' concerns have shifted from under-supply to over-supply, the futures contract structure of the global benchmark Brent showed on Wednesday, as…

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Oil ticks up as drop in US crude and gasoline stocks exceeds view

By Arathy Somasekhar June 28 (Reuters) - Oil prices edged higher on Wednesday as markets worried about supply tightness in the U.S., the world's biggest oil consumer, after data showed…

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Oil climbs on concerns Russia political issues may impact supply

Crude benchmarks pare some gains after rising as much as 1.3% Clash between Moscow and mercenary group averted over weekend Concerns over Putin declaring martial law-RBC analyst By Florence Tan…

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Eastern Libya administration threatens oil blockade

BENGHAZI, Libya, June 24 (Reuters) - Authorities based in eastern Libya on Saturday threatened to blockade oil exports over the Tripoli government's use of energy revenue, accusing it of wasting billions of dollars without…

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Oil resumes slide on demand worries after UK rate hike

By Arathy Somasekhar and Sudarshan Varadhan June 23 (Reuters) - Oil prices fell for a second straight session and were headed for a weekly decline of more than 3% on…

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Oil eases on uncertain demand, market eyes US inventory data

By Jeslyn Lerh and Arathy Somasekhar SINGAPORE, June 22 (Reuters) - Oil futures dipped on Thursday amid demand fears after the Federal Reserve chairman hinted at further interest rate hikes,…

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Oil rises as hawkish Fed talk expectations outweigh Chinese demand worries

By Trixie Yap and Katya Golubkova June 21 (Reuters) - Oil prices rebounded early on Wednesday, recovering after two straight sessions of losses, as expectations of hawkish Federal Reserve talk…

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Oil slides more than $1 on China growth uncertainties

By Katya Golubkova and Emily Chow TOKYO, June 19 (Reuters) - Global oil prices fell more than $1 on Monday, backing off last week's gains, as questions over China's economy…

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Russia says ‘realistic’ to reach oil prices of around $80/bbl this year

MOSCOW(Reuters) - Russian Energy Minister Nikolai Shulginov said it was "realistic" to reach oil prices of around $80 per barrel, Russian state news agencies reported. He did not specify the…

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Oil set to snap two-week losing streak on China demand optimism

China's May refinery runs rise 15.4% yoy China's economy slows in May, more stimulus expected Motor vehicles, building materials lift US retail sales in May By Stephanie Kelly and Sudarshan…

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Oil falls more than 1%

By Florence Tan and Mohi Narayan June 12 (Reuters) - Oil prices declined on Monday ahead of a U.S. Federal Reserve meeting as investors tried to gauge the central bank's…

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Britain to waive oil, gas windfall tax if prices fall far enough

By Sarah Young, Shadia Nasralla and William James LONDON, June 9 (Reuters) - Britain's windfall tax on oil and gas producers will not be applied if prices drop below certain…

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Oil prices headed for second straight weekly loss on demand fears

Oil prices seen trading around $70 in near-term - Rakuten Slow Chinese recovery may offset U.S. driving season demand U.S. fuel stock build erases price gains over Saudi output cut…

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Oil eases as weaker demand outlook returns to focus

By Jeslyn Lerh SINGAPORE, June 8 (Reuters) - Oil prices dipped on Thursday as demand concerns tied to a global economic slowdown overshadowed a pending fall in supply with Saudi…

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Oil extends losses as economic slowdown concerns return

By Yuka Obayashi and Muyu Xu TOKYO, June 7 (Reuters) - Oil extended losses on Wednesday as concerns over global economic headwinds deepened, erasing the price gains booked after top…

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Oil up $1 on Saudi plan to deepen output cuts from July

WTI jumps as much as $3 in early trade, Brent gains over $2 Saudi Arabia to cut output on top of OPEC+ extensions OPEC+ meet, Saudi cut could boost oil…

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OPEC+ unlikely to agree bigger oil cuts on Sunday, sources say

By Maha El Dahan, Alex Lawler and Ahmad Ghaddar VIENNA, June 2 (Reuters) - OPEC and its allies are unlikely to decide on further oil supply cuts at a meeting…

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Oil prices rise as Congress approves US debt ceiling bill

By Andrew Hayley BEIJING, June 2 (Reuters) - Oil prices rose on Friday amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed…

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Oil rises on potential U.S. rate hike pause, debt bill passing

By Arathy Somasekhar and Andrew Hayley BEIJING, June 1 (Reuters) - Oil prices rose on Thursday, reversing earlier losses, as a potential pause in U.S. interest rate hikes and the…

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Oil falls as weak China data offsets US debt ceiling progress

China May PMI contracts more than expected US debt ceiling bill comes up for vote on Wednesday Saudi Arabia may cut July crude price - Reuters poll By Stephanie Kelly…

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Oil rises after US leaders strike provisional debt deal

By Florence Tan SINGAPORE, May 29 (Reuters) - Oil prices rose on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world's largest…

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Oil falls on conflicting OPEC+, Russia messages amid stronger dollar

By Arathy Somasekhar and Trixie Yap May 26 (Reuters) - Oil prices softened in early trade on Friday, weighed on by conflicting messages from Russia and Saudi Arabia ahead of…

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Oil prices rise $1 on concerns over tightening supply

By Stephanie Kelly and Emily Chow May 24 (Reuters) - Oil prices gained over $1 on Wednesday after U.S. inventories and fuel supplies tightened and as a warning from the…

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Oil slips as U.S. debt caution offset supply concerns

By Florence Tan SINGAPORE, May 22 (Reuters) - Oil prices slipped on Monday as caution around the U.S. debt ceiling talks and concerns about demand recovery in China offset support…

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Oil rebounds on fading risk of US debt default

By Jeslyn Lerh SINGAPORE, May 19 (Reuters) - Oil prices rebounded on Friday from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading…

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Russian diesel cargoes switch destination to Brazil from Chile

HOUSTON/SANTIAGO, (Reuters) - Two cargoes of diesel sailing from Russia to South America have switched their destination to Brazil from Chile, according to Refinitiv Eikon's vessel monitoring data. Russia has…

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Oil prices ease on caution over US debt ceiling talks

Biden, McCarthy push forward towards deal on US debt ceiling U.S. rate hike prospect weighs on oil prices By Stephanie Kelly and Sudarshan Varadhan May 18 (Reuters) - Oil prices…

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Oil little changed as demand worries spur caution

U.S. crude stockpiles rise 3.6 mln bbl - API U.S. EIA inventory data due at 1430 GMT Reuters poll forecast 900,000 bbl U.S. crude drawdown By Katya Golubkova and Sudarshan…

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Oil prices fall, set for 4th weekly drop, as demand fears weigh

By Yuka Obayashi and Andrew Hayley BEIJING, May 12 (Reuters) - Oil pricesfell on Friday, set for their fourth weekly decline, as renewed economic concerns in the United States and…

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