Oil

Kuwait’s Oil Firm Looks to Boost Indonesia Offshore Exploration

Kuwait Foreign Petroleum Exploration Company (KUFPEC) plans to bid for more oil and gas blocks offshore Indonesia and explore for hydrocarbons in the Natuna Sea, the top executive of Kuwait’s state oil firm told Reuters on Monday. KUFPEC is an international upstream company, engaged in exploration, development and production of …

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Oil Prices Tick Higher on Crude Inventory Draw

Crude oil prices moved higher today after the U.S. Energy Information Administration reported an inventory decline of 5.1 million barrels for the week to November 29. The change compared with a build of 1.23 million barrels for the week, as estimated by the American Petroleum Institute a day earlier. It …

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Saudi Arabia may Slash January Crude Prices for Asia

Top oil exporter Saudi Arabia is expected to slash crude prices for Asian buyers in January to the lowest in years, largely tracking a slump in Middle East benchmark prices last month, traders said on Monday. The January official selling price (OSP) for flagship Arab Light may fall by 70 …

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