(Investing) – HOUSTON -Oil prices fell around 1% on Monday as investors weighed a potential global glut, with U.S.-China trade tensions adding to concerns about an economic slowdown and weaker energy demand. Brent crude futures were down 57 cents, or 0.93%, at $60.72 a barrel as of 11:25 a.m. EDT (1525 GMT), while U.S. West Texas Intermediate futures fell 42 cents, or
(World Oil)– Equinor and its partners have achieved first oil from the Bacalhau field in Brazil’s Santos basin, marking a major milestone for one of the largest deepwater developments in the world. The project represents Equinor’s biggest international offshore investment, with recoverable reserves exceeding 1 billion barrels of oil equivalent (boe) and peak production capacity of 220,000 barrels per day
(Investing.com)– Oil prices edged lower on Friday, heading for a weekly loss of nearly 3% after the IEA forecast a growing glut and U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine. Brent crude futures were down 9 cents, or 0.15%, at $60.97 a barrel at 1311 GMT, while U.S. West Texas Intermediate futures were 4
This week’s Baker Hughes Rig Count shows that the U.S. increased by 1 last week, resulting in a total count of 548 rigs. Canada had an increase of 5 over last week, resulting in a total Canadian count of 198 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Arkoma Woodford, the Cana Woodford, the DJ-Niobrara, the
(Oil Price)– India hasn’t requested refiners to cut imports of Russian crude oil and no cuts have been seen for the already placed nominations for loadings in November, Indian industry sources told Reuters on Friday, after the U.S. claimed refiners had started to reduce Russian supply. U.S.-Indian talks in Washington this week were productive and Indian refiners are already halving
(World Oil)– Oil headed for a third weekly decline as traders focused on growing signs of oversupply and the fallout from renewed U.S.-China trade tensions. U.S. President Donald Trump said he would hold a second meeting with Russia’s Vladimir Putin “within two weeks or so” aimed at ending the war in Ukraine, raising the possibility of more supply. Brent traded
(World Oil)– TotalEnergies SE said its third-quarter profit and cash flow may rise slightly after oil and gas output increased and refining margins jumped from a year earlier, outweighing a drop in crude prices. Despite a drop in oil price of $10 per barrel year-on-year, the results and cash flow from business segments should be flat to 5% higher thanks
(Oil Price)- The American Petroleum Institute (API) estimated that crude oil inventories in the United States increased by a large 7.36 million barrels in the week ending October 10. Analysts had forecast a much smaller 120,000-barrel build for the week. Today’s build comes after the IEA predicted a smaller global oil demand growth estimate for this year, along with a higher
Weekly Crude Oil Storage as of October 10, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.5 million barrels from the previous week. At 423.8 million barrels, U.S. crude oil inventories are 4% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
(Oil Price) – The Norwegian government on Wednesday proposed to raise the spending from the country’s oil fund, the world’s largest sovereign wealth fund, in next year’s budget, according to the draft budget of the Labor party, which won a second term in office at the general elections last month. The Labor government of Jonas Gahr Støre will need support from its junior
(Oil Price) – The world needs more investment in oil and gas as they will continue to account for a large part of the global energy mix in 2050, OPEC Secretary General Haitham Al Ghais said on Wednesday, reiterating the cartel’s view that investment in new supply will be needed in the foreseeable future. Primary energy demand will jump by 23%
(World Oil) – A record oversupply of oil will be bigger than previously estimated and the excess is already starting to build up on ocean going tankers, the International Energy Agency said. World oil supply will exceed demand by almost 4 million barrels a day next year, an unprecedented overhang in annual terms, the IEA said in its latest monthly
