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DAILY OIL NEWS:KEY HEADLINES

Oil Price Comment April Brent is trading at US$55.77, up 10c/bbl vs yesterday morning despite a muchbigger than market forecast build in crude inventories in the weekly DoE stats (albeit inline with the earlier released API stats), driven b......【more】

2017-07-17

Iran's NIOC plans to boost crude oil output capacity about 80%, by 3 mil b/d: report

Iran plans to raise its crude production capacity by 3 million b/d, oil ministry news agency Shana quoted a senior official as saying Monday. Speaking on the sidelines of a petroleum exhibition in Iran, National Iranian Oil Co.s deputy head......【more】

2017-07-13

Tokyo stocks open lower as U.S. shares dragged down by falling oil prices

TOKYO, July 6 (Xinhua) -- Tokyo stocks opened marginally lower on Thursday as investors were in a circumspect mood after a slump in U.S. shares overnight following a drop in prices for crude oil. As of 9:15 a.m. local time, the 225-issue Ni......【more】

2017-07-12

Oil prices climb on falling U.S. gas inventories

NEW YORK, June 28 (Xinhua) -- Oil prices ended higher on Wednesday as government data showed U.S. gasoline inventories declined last week. The Energy Information Administration (EIA) said on Wednesday in its weekly report that U.S. gasoline......【more】

2017-06-30

Russian oil giant Rosneft websites down following cyberattack

MOSCOW, June 27 (Xinhua) -- Russias oil giants Rosneft said Tuesday that its websites were shut down following a large-scale cyberattack on its servers, but the production has not been affected due to a timely switch to a backup system.......【more】

2017-06-28

Oil prices rebound as traders buy the dip

NEW YORK, June 22 (Xinhua) -- Oil prices rallied Thursday, a day after sliding to 10-month lows, as investors bought the dip after recent big losses. On Wednesday, oil prices fell for a third straight session, as U.S. crude production rose......【more】

2017-06-27

Addax Cameroon becomes the largest oil pro

Addax Cameroon produced 33,189 barrels of interest oil a day recently, setting a new record since it was acquired. Addax Cameroon has produced 1670 thousand tons of interest oil in 2015, thereby becoming the largest oil producer in Cameroon......【more】

2017-06-26

U.S. stocks end mixed amid falling oil prices

NEW YORK, June 21 (Xinhua) -- U.S. stocks closed mixed Wednesday as investors digested a sharp decline in oil prices amid upbeat economic data. The Dow fell 0.27 percent, and the SP 500 dipped 0.06 percent, while the Nasdaq added 0.74 perce......【more】

2017-06-23

Oil prices drop amid geopolitical tensions

NEW YORK, June 5 (Xinhua) -- Oil prices settled lower Monday as geopolitical tensions in the Middle East raised market concerns. The West Texas Intermediate for July delivery lost 0.26 U.S. dollar to settle at 47.40 dollars a barrel on the......【more】

2017-06-06

Extension of oil output reduction pact likely for 6 months or more: Russian energy minster

MOSCOW, May 13 (Xinhua) -- An agreement on oil output cuts reached by major oil-producing countries is likely to be extended for another six months or even longer, Russian Energy Minister Alexander Novak said Saturday. Members of the Organi......【more】

2017-05-26

U.S. firm to construct oil, gas filter plant for Iran: report

TEHRAN, May 11 (Xinhua) -- The U.S. Pall Corporation has reached an agreement with the Iranian Panid Engineering Co. to build a plant for manufacturing filters for Iran's oil industry, Tehran's Financial Tribune daily reported on Thursday.......【more】

2017-05-22

Azerbaijan supports extension of agreement on oil reduction

BAKU, April 25 (Xinhua)-- A global oil pact in December to cut output has yielded positive results, Azerbaijan's energy minister said here Tuesday. "Since January 2017, crude prices ranged between 50-60 U.S. dollars, and that is precisely w......【more】

2017-05-11

No decision made by Russia on extending oil output cut: Kremlin

MOSCOW, May 4 (Xinhua) -- Russia has not yet decided to extend the Vienna agreement on oil output reduction into the second half of 2017, the Kremlin said Thursday. "No decisions have been made yet. If the position is formulated, we will in......【more】

2017-05-05

Oil prices waver narrowly amid supply glut concerns

April 20 (Xinhua) -- Oil prices fluctuated in a tight range Thursday, as investors assessed rising U.S. production against remarks from leading Gulf crude producers that an extension to OPEC-led supply cuts was likely. U.S. gasoline stockpi......【more】

2017-05-02

U.S. not to grant Exxon drilling waiver to work with Russian oil company

WASHINGTON, April 21 (Xinhua) -- The U.S. Treasury Department said on Friday it will not issue drilling waiver to Exxon Mobil Corp. to work with a Russian state oil company as prohibited by U.S. sanctions on Russia. "In consultation with Pr......【more】

2017-04-24