Tag Archives: Reuters International News Agency

OPEC+ is moving towards adding around 2 million barrels per day (bpd) of oil to the market between August and December as it eases back on its output curbs, an OPEC+ source told Reuters. The source said monthly increases would amount to less than 0.5 million bpd. The first source …

An OPEC+ panel has warned of “significant uncertainties” and the risk of an oil glut after April 2022, according to an internal report, building a case for extending the current deal that has maintained curbs on supply. A 3D-printed oil pump jack is seen in front of displayed OPEC logo …

Russia’s second-largest oil producer Lukoil plans to invest $3 billion in production of petrochemicals within the next 6 years, TASS news agency quoted the company’s head, Vagit Alekperov, as saying on Friday. He was speaking at the launch of an isomerisation unit at the NORSI oil refinery that is part …

Oil prices are set to remain on a bullish course this year given the strong recovery in global demand following the COVID-19 pandemic-induced slump, the head of the Petroleum Association of Japan (PAJ) said on Wednesday. “Global crude demand is expected to further recover in the second half of this …

Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran, Trend reports with reference to Reuters. Brent crude was …

Russia’s Nord Stream 2 gas project will start preparations on Friday to fill the first of two pipelines with natural gas, the Gazprom-led project said on Thursday. Nord Stream 2, which runs on the bed of the Baltic Sea from Russia to Germany, bypassing Ukraine, has faced criticism from the …

China’s rising imports of liquefied natural gas (LNG) position it to surpass Japan this year as the world’s largest buyer of the superchilled fuel, pricing data and cargo tracking firm ICIS Edge said on Wednesday. The shift – which some analysts had not expected until 2022 – could happen very …

Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift U.S. sanctions that have seen it pumping far below capacity since 2018. Iran and the six powers have been in talks …

Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch Shell, ExxonMobil and Chevron are all under pressure to cut carbon emissions faster. That’s good news …

Iran and six world powers have made significant progress in talks to revive their 2015 nuclear deal but important issues still need to be resolved, the Iranian Foreign Ministry spokesman said on Monday. Iran and the powers have negotiated in Vienna since April to work out steps that Tehran and …