Tag Archives: Reuters International News Agency

Oil prices have slipped after Libyan commander Khalifa Haftar said his forces would lift the eight-month blockade of oil exports. Furthermore, rising Covid-19 cases added to the concerns regarding fuel demand. However, a tropical storm passing towards the US Gulf of Mexico restricted further losses. Brent crude LCOc1 fell by …

Royal Dutch Shell has reportedly initiated a major cost-cutting programme with an objective to bring down its oil and gas production costs by up to 40%. The cost-cutting will help the energy company to generate cash savings and enable it in revamping its business, reported Reuters citing undisclosed sources. This …

Workers at Libya’s major Sharara field have restarted operations, two engineers working there said, after National Oil Corporation (NOC) announced a partial lifting of force majeure. They said flaring had restarted at the field and shared a video of it, and added that engineers had been returning to the area …

OPEC and allies, led by Russia, are scheduled to hold an online meeting on Thursday to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook. The key OPEC+ panel will be reviewing an internal document which warned that a …

Iraq is debating whether to ask to be exempted from the oil production cuts OPEC+ agreed on this April. Initially set at 9.7 million bpd, the cuts have now been eased to 7.7 million bpd but as the second-largest producer in OPEC, Iraq is shouldering quite a large chunk of …

Iraq’s federal government has requested that the Kurdistan Regional Government (KRG) cut its oil production by 120,000 barrels per day (bpd), Iraq’s state news agency INA quoted a KRG minister as saying on Wednesday. The semi-autonomous Kurdistan Region of Iraq’s domestic oil consumption is at 30,000 bpd, INA quoted Khaled …

The global economy is likely not headed for any major slowdown due to COVID-19 but piled-up storage and uncertainty over China’s oil demand cloud oil markets’ recovery, an official with International Energy Agency (IEA) said. Keisuke Sadamori, IEA director for energy markets and security, told Reuters the outlook for oil …

A European response that involves the Nord Stream 2 gas pipeline is needed against Russia after the poisoning of Kremlin critic Alexei Navalny with a Soviet-style Novichok nerve agent, some politicians and diplomats in Germany said on Thursday. Chancellor Angela Merkel said she expected Moscow to join efforts to clear …

Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude LCOc1 futures climbed 47 cents, or 1%, to $45.75 a barrel at 0635 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 futures …

Oil prices nudged up on Monday, with Brent futures set to post a fifth straight monthly gain, as global stimulus measures underpin prices even as demand struggles to return to pre-COVID levels in a well supplied market. Brent crude futures for November LCOc1 climbed 28 cents, or 0.6%, to $46.09 …