oil-and-gas
Top StoriesOil Falls 2% on Expectations That U.S. Gulf Supply Disruption Will Ease
Top StoriesWinter Diesel Shock Looms as Tanks Dry up Ahead of Sanctions
Top StoriesOil Leak Contained at Three U.S. Gulf Platforms on Pipeline Outage, Shell Says
Top StoriesOil Prices Slip on Cloudy Demand Outlook, but Poised for Weekly Gain
Oil Output Halted at Three U.S. Gulf Platforms on Pipeline Outage, Shell Says
Date: August 11, 2022
By Arathy Somasekhar and Laila Kearney HOUSTON (Reuters) -Top U.S. Gulf of Mexico oil producer Shell said it had halted production at three of its U.S. Gulf of Mexico deepwater platforms after a leak shut pipelines connecting the platforms. A failure at an onshore pipeline junction in Louisiana leaked about two barrels of oil, said...
Oil Settles up as Iea Hikes 2022 Demand Growth Forecast
Date: August 11, 2022
By Laura Sanicola (Reuters) – Oil prices settled up more than $2 on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices have some consumers switching to oil. Brent crude futures gained $2.20, or 2.3%, to settle at $99.60 a barrel. U.S. West Texas...
Opec, in Contrast to Iea, Sees Lower 2022 Oil Demand Growth
Date: August 11, 2022
By Alex Lawler LONDON (Reuters) -OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic. The view from the Organization of the Petroleum Exporting Countries contrasts with that...
Oil Rises as Iea Hikes 2022 Demand Growth Forecast
Date: August 11, 2022
By Ahmad Ghaddar LONDON (Reuters) -Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices lead some consumers to switch to oil. Brent crude futures gained $1.29, or 1.3%, to $98.69 a barrel by 1348 GMT, while U.S....
Analysis: Antitrust Rules, Petro-Canada Profits May Hinder Suncor From Selling Unit
Date: August 11, 2022
By Divya Rajagopal and Rod Nickel TORONTO (Reuters) – Suncor Energy could reap over $8 billion and boost returns to unhappy shareholders if it sells its Petro-Canada gas station business, but Canadian antitrust rules and the need for the unit’s steady profits could deter that move, analysts and shareholders said. Suncor’s poor safety record and...
Switch From Gas Boosts Oil Demand, but Economic Headwinds Loom – Iea
Date: August 11, 2022
By Noah Browning LONDON (Reuters) – Sweltering summer temperatures and soaring gas prices have boosted the use of oil in power generation, the International Energy Agency (IEA) said on Thursday, increasing demand but masking weakness in economies beset by recession fears. The Paris-based agency described the rise as a quirk of an energy market rattled...