U.S. imports of crude oil from Iraq last week averaged 302 thousand barrels per day (bpd), the Energy Information Administration (EIA) said this weekend. In its weekly report on U.S. oil imports, EIA said that the U.S. net oil imports averaged 5.957 million bpd last week, up by 55 thousand …

China’s crude oil output saw a steady expansion, rising four percent year-on-year in the first six months, official data showed. The growth was bolstered by increased oil and gas production. Relevant enterprises continue to intensify oil and gas exploration and development, effectively promoting the production and stability of crude oil …

Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al-Saud said that oil was not discussed at a U.S.-Arab summit held on Saturday, and that OPEC+ would continue to assess market conditions and act as necessary. “There was no oil discussion at the summit,” Prince Faisal told a news conference, adding …

Algerian state-owned natural gas company Sonatrach will deliver next week 4 billion cubic meters of gas to Italy’s ENI, Algerian press has reported. So far this year Algeria has delivered 13.9 billion cubic meters to Italy, 113 percent more than the planned volume, the daily ‘Le Courier d’Algérie’ reports. A …

Europe has overtaken Asia as the biggest buyer of U.S. crude oil, importing 213.1 million barrels over the first five months of the year, while Asia imported 191.1 million barrels, Bloomberg reported, citing Census Bureau data. This is the first time in six years that Europe has been a bigger …

Russian fuel oil exports to Saudi Arabia rose almost twofold during the second quarter as the Saudis sought to free up more local crude for export while using the discount imports for power generation. According to Reuters data, Saudi Arabia imported some 647,000 tons of Russian fuel oil between April …

Russian energy giant Gazprom said Saturday it had asked German group Siemens to return a turbine it has repaired in Canada to ensure the Nord Stream pipeline delivering gas to Europe works. Gazprom started 10 days of maintenance on the Nord Stream 1 pipeline on Monday, with the European Union …

The U.S. said it expects further oil supply increases from Saudi Arabia after President Joe Biden met with Saudi Arabia’s Crown Prince Mohammed Salman. The White House on Friday welcomed the increase in production levels 50 percent above what was planned for July and August. It added these and other …

Japan will seek to maintain its stake in the Sakhalin-2 natural gas project in Russia’s far east, the Nikkei newspaper said, after President Vladimir Putin signed a decree transferring rights to a new Russian company just over two weeks ago. The decree gave stakeholders a month to say whether they’ll …

Saudi Minister of State for Foreign Affairs Adel Al-Jubeir has said Saudi Arabia will boost oil production only in case of a supply shortage in the market. Speaking to the media early Saturday, Al-Jubeir said the decisions on production will be made in coordination with members of OPEC and OPEC+ …