Oil Market News

Benchmark crude oil futures extended losses on Wednesday as swelling US crude inventories compounded expectations of increasing OPEC+...

US gasoline stocks fell last week after a surprise reversal the prior period, as seasonal demand increased and domestic run rates fell...

US commercial crude oil inventories were back on an uptrend last week, adding well over 3.5 million barrels...

Crude oil futures continued to struggle with benchmarks left battered after OPEC+ production hikes and huge uncertainty...

Distillate fuel oil inventories in the United States drifted lower last week, according to the latest figures published by the Energy...

The Czech Republic has released 330,000 mt of crude from strategic reserves after supplies were halted on the Druzhba pipeline...

South Sudanese security forces have detained Petroleum Minister Puot Kang Chol and senior military officials allied with First Vice...

Hong Kong-based CK Hutchinson has agreed to sell its controlling stakes in two key ports on the Panama Canal...

Indonesia plans to build a new 500,000 bpd refinery capable of processing both domestic and international crude grades...

Nigerian producer Seplat expects to more than double its oil and gas production this year after acquiring ExxonMobil's asse...

Vitol announced on Tuesday that it had signed a long-term deal with LNGPH to supply the Philippines with LNG for the next decade...

Refined oil product deliveries into the Spanish market from Exolum terminals rebounded in February, latest figures showed Wednesday...

ExxonMobil's French subsidiary Esso is in the process of shutting its 240,000 bpd Gravenchon refinery...

Saudi Arabia's Aramco is weighing a deal for BP's lubricant business Castrol, according to a Bloomberg report Wednesday...

Middle East benchmark Dubai crude rebounded Wednesday, moving back above Brent, while margins for residual fuels continued to slump...

Emergency services extinguished a major fire at Azerbaijan's Heydar Aliyev oil refinery on Wednesday...

Equinor and its partners have made a gas and condensate discovery in the southern part of the Norwegian Sea, the company announced...

Fujairah's refined product inventories fell to 18.9 million barrels in the week to 5 March, down 8% week-on-week, as declines in light distillates...

The OPEC+ move to start unwinding cuts from April was driven by in-house wranglings over compliance rather than external political factors...

Kerosene inventories in Japan dropped further towards the tail end of February as the end of peak winter heating season saw local refiners...