Heavy slate of U.S. oil refinery overhauls to crimp fuel output
U.S. oil refiners plan twice as many refinery overhauls this spring as usual, aiming to resume maintenance delayed by the pandemic and by the lure of record-high margins, according to…
Oil giant TotalEnergies to cut North Sea investment over windfall tax
French oil giant TotalEnergies has said it will cut North Sea investment by 25% next year after the windfall tax on oil and gas firms in the UK was extended.…
Biden begs big oil buyers to help cool prices
HOUSTON (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to…
Courtesy: Getty Images
Why can’t the US stop soaring oil and gas prices?
Source: BBC Image caption,Costs are soaring as demand for oil and gas rises much faster than output Texas oilman Jason Herrick is scrambling to pump more oil, chasing the promise…
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May 2, 2022
3:47 PM EDT
Last Updated 21 hours ago
Oil settles up on distillate strength, supply concerns
By Laura Sanicola3 minute read
Storage tanks at Marathon Petroleum's Los Angeles Refinery in Carson, California, U.S.
Storage tanks are seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board (CARB), gasoline, diesel fuel, and other petroleum products, in Carson, California, U.S., March 11, 2022. Picture taken with a drone. REUTERS/Bing Guan/Files
Oil settles up on distillate strength, supply concerns
Storage tanks are seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into California Air Resources Board (CARB), gasoline, diesel fuel, and other petroleum products,…
Oil falls 3% as investors focus on weak China economic activity
Price action West Texas Intermediate crude for June delivery CL.1, -3.76% CL00, -3.74% CLM22, -3.73% slumped $3.95, or 3.8%, to $100.74 a barrel on the New York Mercantile Exchange.July Brent crude BRN00, -3.29% BRNN22, -3.41%, the global benchmark, dropped $3.82, or 3.5%,…
U.S. drillers add oil and gas rigs for record 21 months a row
April 29 (Reuters) - U.S. energy firms last week added oil and natural gas rigs for a record 21 months in a row as high prices and prodding by the…
What’s Next For America’s Strategic Petroleum Reserve?
Source: Robert Rapier - Apr 05, 2022, 3:00 PM CDT | OilNews.com This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 3.089 million…
A Tanker’s Giant U-Turn Reveals Strains in the Market for Russian Oil
Oil Tanker Takes a Meandering Path In the AtlanticSource: MarineTraffic.comhttps://www.nytimes.com/2022/04/02/climate/oil-tankers-russia.html The ship, originally sailing to Philadelphia, apparently lost its buyer in the middle of the Atlantic. A number of tankerscarrying…
Infographics: How much of your country’s oil comes from Russia?
Russia is the world’s second highest exporter of crude oil after Saudi Arabia. In 2019, 48 countries bought Russian crude oil worth $123bn. Oil prices have surged following Russia’s invasion…