Oil prices recorded limited gains on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hurt the global economy. Brent crude futures rose 18 cents, or 0.28%, to $64.96 a barrel by 0653 GMT...
Oil & Companies News
Kazakhstan sees oil output surpassing plans this year, TASS reports
Kazakhstan will likely exceed its original oil output plans for 2025 of 96.2 million tons due to expansion at the Chevron-led CVX Tengiz field, Energy Minister Erlan Akkenzhenov was quoted as saying, defying pressure from OPEC+. Kazakhstan has cited rising output at the Tengiz field as the reason...
The Commodities Feed: All eyes on upcoming OPEC+ meeting
OPEC+ supply The oil market is trading firmer this morning after President Trump said he would delay the deadline for tariffs on EU goods until 9 July. This is after announcing late last week that the US would impose 50% tariffs starting 1 June. The extension comes after a phone call with European...
https://www.hellenicshippingnews.com/the-commodities-feed-all-eyes-on-upcoming-opec-meeting/
US oil M&A deals slide from 2023 highs as buyers focus on value over volume
Dealmaking in the U.S. oil patch has slowed to a crawl in 2025, with the activity expected to stay muted for the rest of the year, as some prolific buyers focus on squeezing out value from their past acquisitions, while others curb their appetite for takeovers due to weak oil prices and trade...
UAE to boost energy investments in US to $440bn by 2035
The UAE plans to increase the value of its energy investments in the US to $440 billion in the next decade, it said on Friday, boosting President Donald Trump’s efforts to secure major business deals on a Gulf tour. The wealthy oil power’s strategy was announced during a presentation by Sultan...
https://www.hellenicshippingnews.com/uae-to-boost-energy-investments-in-us-to-440bn-by-2035/
Oil output in Guyana fell to 611,000 bpd in April, government says
Oil production in Guyana declined to an average 611,000 barrels per day in April from 627,000 bpd the previous month, according to a bulletin released by the government on Friday. All oil and gas output in the South American nation is controlled by a consortium of U.S. companies Exxon Mobil and...
U.S. retail gasoline prices heading into Memorial Day weekend are at a four-year low
The retail price for regular-grade gasoline in the United States on May 19, the Monday before Memorial Day weekend, averaged $3.17 per gallon (gal), 11% (or 41 cents/gal) lower than the price a year ago. After adjusting for inflation (real terms), average U.S. retail gasoline prices going into...
Oil heads to first weekly loss since April on OPEC+ supply hike prospect
Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible OPEC+ output hike in July. Brent futures fell 48 cents, or 0.8%, to $63.96 a barrel by 0635 GMT. U.S. West Texas...
US says there are significant undiscovered oil and gas resources in Wyoming
A new federal assessment has identified significant undiscovered, technically recoverable oil and gas resources in parts of Wyoming, Utah and Colorado, the U.S. Interior Department said on Wednesday. WHY IT’S IMPORTANT The resources identified by the U.S. Geological Survey in what is known as the...
Lifting US sanctions on Iran could crush China’s ‘teapot’ oil refineries: Bousso
The possible lifting of U.S. sanctions on Iran’s oil exports could deal a fatal blow to independent Chinese refineries that have thrived by processing Tehran’s discounted crude, while also putting further downward pressure on oil prices. President Donald Trump has taken a dual-track strategy with...