World Oil (Bloomberg) — Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production. The value of crude exports, now almost $1 billion a day, increased by 123% year on year, the kingdom’s statistics office said. Saudi Arabia’s crude production rose to 10.3 million
Reuters Ministers from the Group of Seven countries on Friday called on OPEC to act responsibly to ease a global energy crunch brought on by the Russian invasion of Ukraine, even as they announced a breakthrough commitment to phase out coal-fuelled power. The call, made at the end of three-day talks in Berlin focused on climate change, underscored that the
Reuters BRUSSELS: EU countries scrambled on Friday to reach a deal that would embargo seaborne deliveries of Russian oil but still allow deliveries by pipeline, a compromise to win over Hungary and unblock new sanctions against Moscow, officials said. An agreement could be reached by envoys of European Union governments in Brussels on Sunday, in time for their leaders to
The year-to-date gain of the TSX’s energy sector is now 61.8%, making it the sta…
Oil and Gas 360 This week’s Baker Hughes rig count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 727 rigs. Canada had an increase of 15 over last week, resulting in a total Canadian count of 103 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Arkoma Woodford,
Suncor (TSX:SU) (NYSE:SU) is finally starting to catch up to its peers after a …
BOE Report Global oil benchmark Brent crude could rise past $150 a barrel if there is a sharp contraction in Russian oil exports, Bank of America (BofA) Global Research said on Friday. Oil prices surged after Russian’s Ukraine invasion, which Moscow calls a “special operation”, and are currently just below the $120 a barrel level. “With our $120/bbl Brent target
Investing LONDON – Oil prices edged higher on Friday and were on track for weekly gains, supported by the prospect of a tight market due to rising gasoline consumption in the United States in summer, and also the possibility of an EU ban on Russian oil. Brent crude was up 64 cents, or 0.6%, at $118.04 at 1338 GMT, and was
