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Energy News Results

  • Oil rises on U.S debt bill progress and potential pause in rate hikes

    * * U.S. crude stocks up by 5.2 million barrels -market sources. * Coming up: EIA supply report, 1430 GMT. By Alex Lawler. Oil prices rebounded on Thursday as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill restored hopes of further demand growth in the world's biggest oil consumer.

  • Oil rises on U.S debt bill progress and potential pause in rate hikes

    Oil prices rebounded on Thursday as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill restored hopes of further demand growth in the world's biggest oil consumer.

  • Oil falls after large surprise build in US crude stocks

    * * U.S. gasoline stocks rise by 1.9 mln barrels - API. * Analysts give mixed signals on OPEC+ output cuts expectations. * Coming up: EIA data on U.S. stockpiles at 1500 GMT. By Arathy Somasekhar.

  • Argentina's Vaca Muerta could pump 1 mln bpd of crude by 2030, Rystad says

    Argentina's Vaca Muerta shale formation could produce more than 1 million barrels per day of crude oil by 2030, consultancy Rystad Energy said on Wednesday, but cautioned this relied on the country solving transport capacity bottlenecks.

  • Kinder Morgan to increase gas storage capacity at Texas facility

    U.S. pipeline operator Kinder Morgan Inc (KMI) said on Wednesday it plans to expand the working gas storage capacity at its Markham facility in Matagorda County, Texas, by 6 billion cubic feet. The decision comes after Kinder Morgan (KMI) earned about $1 billion during February's U.S. winter blast as heating demand pushed natural gas prices to record highs.

  • US crude March output hits 3-yr high as Texas production grows -EIA

    U.S. field production of crude oil rose in March to 12.696 million barrels per day, the highest since March 2020, when the COVID-19 pandemic began to decimate global energy demand, Energy Information Administration data showed on Wednesday. The higher crude output came as production in Texas rose 1.8% to 5.398 million bpd, also its highest since March 2020, the EIA data showed.

  • Renewable fuels to drive Neste's growth this year - CEO

    By Trixie Yap and Florence Tan. Finnish refiner Neste expects renewable fuels from its new facilities in Singapore and the U.S. to drive its growth this year despite expectations of lower oil product margins in the second quarter, its chief executive said on Wednesday. "The macroeconomic situation is something that is affecting many businesses," Matti Lehmus said in an interview.

  • Renewable fuels to drive Neste's growth this year - CEO

    By Trixie Yap and Florence Tan. Finnish refiner Neste expects renewable fuels from its new facilities in Singapore and the U.S. to drive its growth this year despite expectations of lower oil product margins in the second quarter, its chief executive said on Wednesday. "The macroeconomic situation is something that is affecting many businesses," Matti Lehmus said in an interview.

  • Economic fears to cap oil prices below $90 through 2023: Reuters poll

    - Oil prices will creep up from current levels as major producer group OPEC+ maintains restrictions on supplies, but economic headwinds will keep them below $90 a barrel this year, a Reuters poll showed on Wednesday. A survey of 43 economists and analysts forecast Brent crude would average $84.73 a barrel in 2023, down from the $87.1 consensus in April and current levels of around $73.

  • TABLE-UAE's Fujairah oil inventory data for week ended May 29

    The Fujairah Oil Industry Zone on Wednesday published the following inventory data for oil products for the week ended May 29, according to industry information service S&P Global Commodity ...

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