oil-and-gas
Top StoriesOil Prices Fall as Recession Fears Trump Tight Supply
InvestingOil Slumps 5% on Recession Worries, Strong U.S. Dollar
Top StoriesExplainer: Why Russia Drives European and British Gas Prices
Top StoriesOil Rises on Tight Supply Though Interest Rate Hikes Weigh
Norway Oil Sector Union Leader Says Wage Deal Is ‘good Enough’
Date: June 17, 2022
By Nerijus Adomaitis OSLO (Reuters) – The leader of a union representing Norwegian oil workers said she would recommend to members a wage deal the union struck with oil companies as it was “good enough”, she told Reuters. Two of three unions that negotiated the agreement last week are seeking approval from members before they...
High Fuel Prices to Persist Into 2023, Wood Mackenzie Says
Date: June 16, 2022
By Rowena Edwards and Ron Bousso LONDON (Reuters) – Consumers can expect fuel prices at the pump to remain high into next year due to disruptions to Russian oil supplies and as refineries struggle to meet demand recovering from the pandemic, consultancy Wood Mackenzie said. The pressure should ease in the second half of next...
Novak Says Russia Can Increase Oil Production in July
Date: June 16, 2022
(Reuters) – Russia plans to increase oil production next month as export flows are being redirected to avoid Western sanctions, energy officials said on Thursday, predicting domestic oil output would be either flat or decline slightly this year. “In fact, we are close to the February levels when we had it (oil production) at 10.2...
Exclusive-OMV’s Schwechat Oil Refinery at 20% Capacity After Accident
Date: June 15, 2022
By Alexandra Schwarz-Goerlich (Reuters) – OMV’s 200,000 barrel per day Schwechat oil refinery is running at 20% capacity with repairs to fix a crude distillation unit set to take several weeks at least, OMV Chief Executive Alfred Stern told Reuters on Wednesday. On June 3, two people were injured when a part at a crude...
Russia Says West, Unlike China, ‘shoot Themselves in the Head’ Over Ukraine
Date: June 15, 2022
By Guy Faulconbridge LONDON (Reuters) – Russia said on Wednesday that the West had “shot itself in the head” by trying to limit energy imports from the oil and gas fields of Siberia due to the Ukraine conflict, in sharp contrast to China which has increased deliveries of energy. The war in Ukraine – and...
Oil Prices Slip Ahead of Expected U.S. Interest Rate Hike
Date: June 15, 2022
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices slipped on Wednesday on the back concerns over fuel demand and global economic growth ahead of an expected big hike in interest rates by the Federal Reserve as U.S. oil production reached pre-pandemic levels. Brent crude futures for August were down 52 cents, or 0.5%, at $120.61 a...