oil-and-gas
InvestingOPEC Raises Long-Term Oil Demand View, Calls for Investment
Top StoriesOil Slips on China Covid Curbs, Weak Factory Activity Data
InvestingOPEC Expected to Stick to View of Long-Term Oil Demand Rise
Top StoriesEquinor Posts Record Profit Boosted by Soaring Gas
Shell Reports Drop in Profit to $9.45 Billion, Hikes Dividend
Date: October 27, 2022
By Ron Bousso and Shadia Nasralla LONDON (Reuters) – Shell on Thursday posted a third-quarter profit of $9.45 billion, slightly below the second quarter’s record high, due to weaker refining and gas trading, and said it will sharply boost its dividend by the end of 2022 when its CEO departs. The British oil and gas...
Oil Rises on Strong Crude Demand, Despite China Fears
Date: October 27, 2022
By Alex Lawler LONDON (Reuters) -Oil rose on Thursday, extending a rally of nearly 3% in the previous session, as optimism over record U.S. crude exports and signs that recession fears are abating outweighed concern over slack demand in China. Figures on Wednesday showed record U.S. crude exports, a hopeful sign for demand, even as...
Italy’s Windfall Tax on Energy Companies Needs to Be Rewritten – PM
Date: October 27, 2022
ROME (Reuters) – Italy needs to rewrite its windfall tax on energy companies that have benefited from surging oil and gas prices, Prime Minister Giorgia Meloni told parliament on Wednesday. The previous government led by Mario Draghi expected to fund part of its measures to soften the impact of the energy crisis on firms and...
Oil Rises on Weaker Dollar and Supply Concerns
Date: October 25, 2022
By Rowena Edwards LONDON (Reuters) -Oil prices rose on Tuesday after falling by more than $1 a barrel earlier in the session, bouyed by a weaker dollar and supply concerns highlighted by Saudi Arabia’s energy minister. Benchmark Brent crude futures rose by 40 cents to $93.66 a barrel by 1348 GMT while U.S. West Texas...
World Is in Its ‘first Truly Global Energy Crisis’ – IEA’s Birol
Date: October 25, 2022
By Emily Chow and Muyu Xu SINGAPORE (Reuters) -Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday. Rising imports of LNG to Europe amid the...
Oil Prices Steady as Chinese Demand Data Disappoints
Date: October 24, 2022
By Noah Browning LONDON (Reuters) -Oil prices were steady on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre, but rising equities in key markets marked a brief respite from global recession fears. Brent crude futures for December settlement were up 8 cents, or 0.1%, at $93.58 a barrel...