Crude oil

Oil rises as OPEC aims for deeper output cuts

LONDON (Reuters) -- Oil prices rose more than $1 a barrel on Tuesday after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher.

After OPEC cuts heavy oil, China teapot refiners pull US supply to Asia

SINGAPORE/HOUSTON (Reuters) -- Chinese independent, or teapot, refiners are bringing in rare cargoes of North American heavy crude in a new long-distance flow that traders say has only been made possible by OPEC's output cuts and ample supplies in Canada and the United States.

ADNOC offers Murban crude from S. Korea storage in rare move

SINGAPORE (Reuters) -- Abu Dhabi National Oil Company has offered Murban crude to be loaded in April from its oil storage in South Korea in a rare move, three trade sources said on Thursday.

Crews clean up small illegal crude oil dump in Saskatchewan

CALGARY, Alberta (Reuters) -- Crews have cleaned up 95% of what appears to be an intentional crude oil spill from a large transport vehicle into a ditch near Lloydminster, Saskatchewan, local authorities said on Wednesday.

EIA: US crude and gasoline stockpiles hit record highs

(Reuters) -- US crude oil and gasoline inventories soared to record highs last week as refineries cut output and gasoline demand softened, the Energy Information Administration said on Wednesday.

Oil slips further below $56 on report of US inventory jump

LONDON (Reuters) -- Oil slipped further below $56 a barrel on Wednesday as an industry report showing a large rise in US crude inventories signaled ample supply, even as OPEC achieves record compliance with its supply-cut accord.

S.Korea's Jan crude imports from Iran more than double on year

SEOUL (Reuters) -- South Korea's January crude imports from Iran more than doubled from a year ago as the Middle Eastern country continues to increase its output to reclaim its market share.

Egypt nearing deal with Iraq in search for crude oil imports

CAIRO (Reuters) -- Egypt is nearing a deal to import crude oil from Iraq and is looking to other countries to help secure supply, Egyptian General Petroleum Corporation's chief Tarek al-Hadidi said.

Singapore's IEG to start trading crude oil, tap China demand

SINGAPORE (Reuters) -- Singapore-based trading start-up International Energy Group (IEG) this year plans to expand its portfolio to crude oil from products such as gasoline and gasoil, looking to tap growing Chinese demand.

China steps up Russian oil imports as teapots buy Urals crude

MOSCOW/SINGAPORE (Reuters) -- Russian crude imports to China have risen in early 2017 as the country's independent, or teapot, refiners have expanded their diet to include the Urals grade, trade sources said on Tuesday.