Oil

Taiwan is pledging to buy more U.S. oil and gas, which is a focus of the tariff talks with the Trump Administration, Taiwanese President Lai Ching-te said on Tuesday. “Increasing purchases from the United States, including natural gas, oil, and other essential national energy sources, is not only the next …

Oil prices fell more than 1.5% on Monday as investors once again focused on concerns U.S. tariffs on its trading partners will create economic headwinds that will reduce fuel demand growth. Brent crude futures slipped $1.10, or 1.6%, to $66.86 a barrel at 0255 GMT after closing up 3.2% on …

Pakistan has recorded the first substantial increase in its domestic oil reserves since 2020, with new discoveries and higher production leading to a 23% annual increase in reserves to 238 million barrels as of December 2024. The key fields contributing to the increase include Pasakhi/Pasakhi North East, Rajian, Kunar, Sono, …

Most Asian countries are racing to pledge increased imports of U.S. energy to avoid the high tariffs slapped on them in early April. Delegations from many Asian countries are heading to Washington D.C. these days to discuss the U.S. tariffs, now suspended for 90 days, which are the highest for …

Pakistan is actively considering the idea of importing U.S. crude oil for the first time to seek a reduction of its trade surplus with America and avoid one of the highest tariffs – currently paused – on its goods sold in the United States. Crude oil is one of the …

Brazil’s oil industry watchdog has scheduled an auction for drilling rights in an area where environmental authorities have put up serious opposition to any drilling, Bloomberg has reported, noting Brazil’s state-owned energy major Petrobras has been unable to tap the resources in that area because of that opposition. The tender, …

Oil prices fell on Monday on concerns the escalating trade war between the United States and China would weaken global economic growth and dent fuel demand. Brent crude futures were down 29 cents, or 0.45 percent, at US$64.47 (HK$502.87) a barrel at 0126 GMT. US West Texas Intermediate crude futures …

Last week, eight OPEC+ countries unveiled plans to advance their planned phase-out of voluntary oil output cuts by ramping up output by 411,000 barrels per day in May–equivalent to three monthly increments. The announcement of the accelerated unwinding clip comes at a time when U.S. President Donald Trump announced tariffs …

Last year, oil overtook soy as Brazil’s main export for the first time since 2012. According to trade data published by the government, foreign oil sales totalled almost USD 45 billion in 2024, passing soy’s USD 43 billion. The value of Brazil’s crude oil exports has more than doubled in …

Oil prices retreated on Thursday as U.S. President Donald Trump ramped up a trade war with China, even as he announced a 90-day pause on tariffs aimed at other countries. Brent futures fell 77 cents, or 1.18%, to $64.71 a barrel by 0320 GMT, while U.S. West Texas Intermediate crude …