Oil

The number of active drilling rigs in the United States stands at 760 this week, down by one from the previous week but up by 115 from a year ago, according to the weekly data released Friday by Houston-based oilfield services company Baker Hughes, Trend reports citing Xinhua. These active …

India’s Iraqi oil imports in January rose to a seven-month high of 983,000 barrels per day (bpd), up 11% from December, data from trade sources showed. However, it only comes second to Moscow as India’s oil imports from Russia climbed to a record 1.4 million bpd in January, up 9.2% …

Oil prices increased on Thursday on expectations of a surge in oil demand in China, the world’s largest oil importer. International benchmark Brent crude traded at $85.85 per barrel at 09.46 a.m. local time (0646 GMT), up 0.55% from the closing price of $85.38 a barrel in the previous trading …

The International Energy Agency has raised its estimate of global oil demand growth for this year by 100,000 b/d to 2 million b/d on the back of a “resurgent” China and an aviation recovery. In its latest monthly oil market report published Feb. 15, the IEA raised its demand growth …

Oil prices fell on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers, defying expectations from some traders that the release could be cancelled or delayed. Brent crude futures fell by 70 cents, or 0.81%, to $85.91 per …

Goldman Sachs still expects Brent Crude prices to hit $100 per barrel this year, but only in December, compared to earlier expectations of $100 oil as soon as mid-2023, the bank said in a new note in which it cut its average Brent price to $92 a barrel this year …

Oil prices fell on Monday ahead of the release of critical US inflation data due later this week, sparking recession fears in the country. International benchmark Brent crude traded at $85.56 per barrel at 09.55 a.m. local time (0655 GMT), down 0.96% from the closing price of $86.39 a barrel …

Tanker loadings of oil from Baku-Tbilisi-Ceyhan pipeline at Ceyhan terminal have been resumed as of this afternoon (12 February), bp Azerbaijan told Trend. The tanker loading operations at the Ceyhan Terminal were temporarily suspended by the operator of the BTC pipeline in Turkiye (Botaş International Anonim Şirketi (BIAS) on Feb.6 …

Oil prices rose more than 2 percent on Friday as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s crude and fuel. Brent crude futures rose $1.89 to $86.39 a barrel. U.S. WTI crude futures rose $1.66 to $79.72. Brent posted …

The Ceyhan port in Türkiye’s Adana province may resume loading oil from the Baku-Tbilisi-Ceyhan (BTC) pipeline in a few days using “manual” procedures, a Turkish official and a source said Saturday. The terminal, on Türkiye’s Mediterranean coast, was damaged in the devastating earthquakes that hit Türkiye and Syria on Monday. …