Oil prices stable as market weighs fuel stocks build amid supply concerns

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS / Agustin Marcarian / File Photo Register now for FREE unlimited access to Reuters.com Register HOUSTON, June 29 (Reuters) – Oil prices were little changed on Thursday as markets weighed … Read more

Column: Oil market confronts US and EU policymakers with unpalatable choices: Kemp

LONDON, June 29 (Reuters) – With global inventories steadily falling and spare capacity eroding, the oil market resembles a geological fault line in which stress is quietly accumulating and will eventually be relieved by an earthquake of as yet unknown magnitude. The most likely stress relief will come from a deceleration in oil consumption as … Read more

Oil prices rise for fourth day on supply worries

A worker uses a petrol pump at a Brazilian oil company Petrobras gas station in Brasilia, Brazil March 7, 2022. REUTERS / Adriano Machado / File Photo / File Photo Register now for FREE unlimited access to Reuters.com Register OPEC, OPEC + start two days of policy meetings US inventories down as refiners pick up … Read more

Oil settles higher as major producers flag capacity limits

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, US November 22, 2019. REUTERS / Angus Mordant / Register now for FREE unlimited access to Reuters.com Register G7 agrees to explore cap on Russian oil price Macron tells Biden that UAE, Saudi can barely … Read more

Macron tells Biden that UAE, Saudi can barely raise oil output

GARMISCH-PARTENKIRCHEN, Germany, June 27 (Reuters) – Two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production, French President Emmanuel Macron on Monday said he had been told by the UAE’s president. Saudi Arabia and the UAE have been perceived as the only two countries in the Organization of … Read more

Ecuador could stop pumping oil within 48 hours due to protests

Protesters march through the Santo Domingo Plaza to demand President Guillermo Lasso address price increases for fuel, food and other basics which have ignited 10 days of demonstrations across the country, in Quito, Ecuador June 22, 2022. REUTERS / Santiago Arcos Register now for FREE unlimited access to Reuters.com Register June 27 (Reuters) – Ecuador … Read more

Oil prices edge higher ahead of G7 talks on new Russian sanctions

Crude oil storage tanks are seen at the Kinder Morgan terminal in Sherwood Park, near Edmonton, Alberta, Canada November 14, 2016. REUTERS / Chris Helgren Register now for FREE unlimited access to Reuters.com Register LONDON, June 27 (Reuters) – Oil prices edged higher on Monday in a volatile session as investors waited for any moves … Read more

Ecuador cuts gasoline prices in latest concession to protesters

QUITO, June 26 (Reuters) – Ecuadorian President Guillermo Lasso said on Sunday he would cut prices for gasoline and diesel by 10 cents a gallon, the latest concession to try to end nearly two weeks of anti-government protests in which at least six people have died. The sometimes-violent demonstrations by largely indigenous protesters demanding lower … Read more

Oil settles up but posts weekly decline on recession fears

Brent, US crude head for second weekly decline The Fed’s inflation fight is ‘unconditional,’ Powell says US consumer sentiment at record low, inflation outlook improves OPEC + seen sticking to plan at June 30 meeting June 24 (Reuters) – Oil prices settled up by more than $ 3 a barrel on Friday, supported by tight … Read more

Germany triggers gas alarm stage, accuses Russia of ‘economic attack’

Pipes at the landfall facilities of the ‘Nord Stream 1’ gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS / Hannibal Hanschke // File Photo Register now for FREE unlimited access to Reuters.com Register West, Russia in energy standoff since Ukraine invasion German minister warns of ‘rocky road’ ahead Minister does not rule … Read more