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Monday, August 17, 2026

August 8, 2019

Saudi Arabia and other key producers in OPEC signaled their intention to keep oil supplies constrained for the rest of the year, Oil & Gas 360

Saudis to Limit Oil Exports in September to Stabilize Market

August 8, 2019

From The Houston Chronicle Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s officials. State-run Saudi Arabian Oil Co., known as Aramco, will cut customer allocations across all regions by a total of

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

August 8, 2019

From Reuters China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves. According to the firms, which track tanker movements, between 4.4 million and 11 million barrels of Iranian crude were discharged into

Brazil’s Petrobras Sells Off $320 Million Hedge Position as Crude Falls

August 8, 2019

From Reuters Brazil’s Petroleo Brasileiro SA sold its entire oil hedge position amid a sharp fall in crude prices, the company said in a filing on Wednesday night, saying it has eliminated uncertainties regarding its cash flow thanks in part to divestments. Petrobras, as the state-run company is known, said in March it was spending $320 million on put options,

Chevron

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

August 8, 2019

From Reuters Chevron Corp (CVX.N) said on Thursday it has launched one of the world’s largest carbon capture and storage projects, injecting CO2 into a deep reservoir under an island off Western Australia at its Gorgon LNG project. The carbon storage project was delayed by more than two years after Chevron discovered problems with valves and pipeline equipment during commissioning

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

August 8, 2019

From Reuters Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions. Brent crude LCOc1 ended the session up $1.15, or 2.1%, at $57.38 a barrel, after hitting a session high of

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