The core group of eight OPEC+ members (Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman) agreed on May 3 to further accelerate the unwinding of their voluntary production cuts, increasing their combined crude quotas by 411K b/d in Jun.
May 10, 2025
ExxonMobil's first quarter 2025 results revealed a significant increase in oil and gas production, averaging 4.551MM boe/d.
May 10, 2025
Saudi Arabia and India are facing initial hurdles in their discussions regarding crude oil supply for potential joint refinery projects.
May 10, 2025
European oil refineries in the Netherlands and Germany absorbed all four cargoes of Chadian Doba crude in Apr. 2025.
May 10, 2025
The definitive shutdown of Scotland's sole oil refinery in Grangemouth on Apr. 29, 2025, signifies a considerable transformation within the UK's energy sector.
May 05, 2025
The crude oil market experienced a volatile week, heavily influenced by escalating trade tensions between the US and China, coupled with growing concerns over potential increases in oil production from the OPEC+ alliance.
May 04, 2025
Libya's state-owned National Oil Corporation (NOC) has adjusted its official formula prices for May.
May 04, 2025
Analysts and market observers are closely watching the upcoming OPEC+ meeting, initially scheduled for May. 5, but moved forward to May 3.
May 04, 2025
Companies are beginning to assess the financial repercussions of President Trump's trade tariffs, which have contributed to market volatility, lower oil prices, and recession concerns.
May 04, 2025
In the final weeks leading up to the expiration of a US license, Vitol Group, the world's largest independent oil trader, significantly increased its Venezuelan oil purchases
May 04, 2025
