- In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.
In January, Occidental Petroleum (OXY) announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.
NEW YORKa -Oil settled modestly lower on Friday but secured a weekly gain on a stronger demand outlook and signs of economic recovery in China and the United States that offset concerns about rising COVID-19 infections in other major economies. Brent crude settled down 17 cents, or 0.3%, at $66.77 a barrel.
- Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices.
Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices.
Oil prices edged up to fresh four-week highs on Thursday on positive U.S. economic data and higher demand forecasts from the International Energy Agency and OPEC as countries start to recover from the COVID-19 pandemic.
* U.S. crude stockpiles fall as refiners ramp up output -EIA. * IEA ups oil demand forecast as vaccinations brighten outlook. * Slow vaccine rollouts globally still loom. By Stephanie Kelly.
The Fujairah Oil Industry Zone on Wednesday published the
following weekly inventory data for oil products for the week ended April 12, according to
industry information service S&P Global Platts.
South Africa's Sasol on Wednesday said it would partner chemicals company Linde (LIN), German renewables player Enertrag AG and development company Navitas Holdings to bid for production of sustainable aviation fuel under the German Federal Government's H2Global auction platform.
Oil prices surged almost 5% on Wednesday, after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand after the coronavirus lockdowns last year crushed fuel consumption. Brent crude futures rose $2.91, or 4.6%, to settle at $66.58 a barrel.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
