Crude oil

Shell sees oil demand peaking by late 2020s as electric car sales grow

LONDON (Reuters) — The world's oil consumption could peak as early as the end of the next decade as electric vehicles become more popular, Royal Dutch Shell Chief Executive Ben van Beurden said on Thursday.

Canada's top court finds aboriginals consulted on Enbridge pipeline

OTTAWA (Reuters) — Canada's top court ruled on Wednesday that aboriginals were adequately consulted on changes to an Enbridge Inc oil pipeline, dismissing an attempt to quash the national energy regulator's approval of the project.

Oil prices rise as falling US inventories stoke rebalancing hopes

LONDON (Reuters) — Oil prices rose to near eight-week highs on Wednesday, as a fall in US inventories bolstered expectations that the long-oversupplied market was moving toward balance.

UAE buys first US oil cargo to replace Qatar condensate

SINGAPORE (Reuters) — The United Arab Emirates will import the country's first oil cargo from the United States, two sources familiar with the matter said, as the OPEC producer sought substitutes to replace Qatari condensate supplies after a diplomatic row.

Oil rallies 2% as Saudi promises to cut exports

LONDON (Reuters) — Oil rose by more than 2% on Tuesday after Saudi Arabia vowed to reduce exports from next month and OPEC called on members to boost compliance with agreed output cuts to help curb oversupply and support flagging crude prices.

China's crude oil imports to exceed 400 MMt this year

BEIJING (Reuters) — China's crude oil imports will exceed 400 MMt this year, said an executive at a Chinese state oil giant on Tuesday, as continuing low oil prices and declining domestic output sparked increased overseas purchases.

ADNOC cuts Sept crude allocation to 2 buyers by 10%

SINGAPORE (Reuters) — Abu Dhabi National Oil Co (ADNOC) notified two term buyers in Asia that they will receive 10% less crude for September, two sources familiar with the matter said on Tuesday.

Chinese oil trader Unipec seeks closer ties with teapot refiners

BEIJING (Reuters) — State oil trader Unipec will develop "really strong" ties with China's independent refiners, said a company executive on Tuesday, even as they present a growing challenge to its parent and Asia's top refiner, Sinopec Corp.

Russia is top China oil supplier 4th straight month in June, longest streak ever

BEIJING (Reuters) — Russia was China's biggest crude oil supplier for a fourth straight month in June, its longest streak ever in the top spot, data from the General Administration of Customs showed on Monday.

Saudi calls OPEC members to stick to limits, sees oil demand up

ST PETERSBURG, Russia (Reuters) — OPEC leader Saudi Arabia said on Monday the group would quickly address weak compliance with output cuts by some OPEC states and would monitor rising production from Nigeria and Libya, which have been exempted from the curbs.