Crude oil
Tide turns for sulfur-rich oil in a sea of light crude
LONDON (Reuters) — The world is awash with oil, but in pockets of the market lower-quality, sulfur-rich crude is limited and buyers are competing for cargoes.
US crude stockpiles drop the most since September
NEW YORK (Reuters) — US crude oil inventories last week dropped the most in ten months, falling more than expected as imports declined and refining rates rose, while gasoline stocks decreased although demand remained lackluster, the Energy Information Administration said on Wednesday.
Pipelines secured as wildfires rage in western Canada
CALGARY, Alberta (Reuters) — Major pipeline companies in western Canada created fire breaks, installed sprinklers and took other measures to protect operations as raging wildfires spread to more than 93,000 acres in British Columbia.
China crude oil imports hold at strong levels in June
BEIJING (Reuters) — China imported 36.11 MMt, or 8.79 MMbpd of crude oil in June, customs data showed on Thursday, again making the country the world's top buyer for the month.
Asian refiners tweak their Qatar oil loadings to side-step Gulf spat
SINGAPORE/SEOUL (Reuters) — Asia's oil refiners are adjusting their shipping arrangements for loading Qatari crude to side-step the diplomatic spat between Doha and other Middle East nations, including top Gulf oil producers Saudi Arabia and the United Arab Emirates.
OPEC sees lower demand for its oil in 2018, points to surplus
LONDON (Reuters) — World demand for OPEC's crude will decline next year as US shale producers and other rivals pump more, OPEC said on Wednesday, suggesting the oil market will see a surplus in 2018 despite an OPEC-led output cut.
Iran sees oil output rising to 4 MMbpd by year end
ISTANBUL (Reuters) — Iran's oil output will rise to around 4 MMbpd by the end of the year, an Iranian oil official said on Wednesday as the OPEC member tries to ramp up production after years of international sanctions.
China sets sights on oil benchmark after years of delays
BEIJING/SINGAPORE (Reuters) — China has opened more than 6,000 trading accounts for its long-awaited crude futures contract—with three-quarters coming from individual traders—as it pushes ahead with plans to compete with global pricing benchmarks.
Saudi Aramco to meet Asia demand for August crude in full
SINGAPORE/NEW DELHI (Reuters) — Saudi Aramco will meet the full August crude oil requirements of its customers in India and southeast Asia as well as four of its North Asian buyers, several sources with knowledge of the matter said on Tuesday.
Top Iran oil tanker firm NITC says shipments to Europe increasing
ISTANBUL (Reuters) — NITC, Iran's leading oil tanker operator, said on Monday its shipments to Europe were increasing daily and the company plans to upgrade its fleet to support expansion.
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