(Oil Price) – OPEC+ served two surprises to the oil trading world in a matter of weeks. First, it said it would bring back three times the amount of oil supply it planned to originally in May. Then, it said it would repeat the exercise in June. And then it emerged that Saudi Arabia is raising selling prices for Asia when
(BOE Report) – Canada’s second-largest oil producer Suncor Energy said on Wednesday a recent cost-cutting campaign had set it up well to weather lower global oil prices, but did not rule out reducing capital spending next year if weaker economic conditions persist. CEO Rich Kruger told analysts on a conference call that Suncor has not changed its 2025 capital budget range of
(Oil Price) – The Rockefeller Foundation is launching a Coal to Clean Credit Initiative (CCCI), with which it will aim to support 60 projects by 2030 to help close coal-fired power plants in developing countries. As part of the first efforts of the new initiative, the Rockefeller Foundation will collaborate with ACEN Corporation, GenZero, Keppel, and Mitsubishi for a pilot project
(Oil & Gas 360) – Publisher’s Note: Zephyr Energy plc will be presenting at the EnerCom Denver – The Energy Investment Conference held at the Westin Denver Downtown on August 17-20, 2025. Register to attend. RNS Number : 5882H Zephyr Energy PLC 07 May 2025 Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as
(World Oil) – Kazakhstan is considering its options for complying with the country’s OPEC+ obligations to cut production, after Saudi Arabia doubled down on its efforts to bring quota-cheats in line over the weekend. “Kazakhstan always was and is committed to OPEC+ agreement,” the Astana-based ministry said on Tuesday in emailed reply to questions. Central Asia’s largest oil producer “is
(Investing) – LONDON – Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade talks to be held this weekend and signs of lower U.S. shale output. Brent crude futures climbed 41 cents a barrel, or around 0.7%, to $62.56 a barrel by 1219 GMT, while U.S. West Texas Intermediate crude
Weekly Crude Oil Storage as of May 2, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.0 million barrels from the previous week. At 438.4 million barrels, U.S. crude oil inventories are 7% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
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