Crude oil
Russia's December idle oil refining capacity revised up 60%
Russia plans to take 1.1 MM tonnes (t) of refining capacity offline in December, up more than 60% from a previous estimate but still less than half the 2.4 MMt in November.
Fuel oil smuggling network rakes in $1 B for Iran and its proxies
A sophisticated fuel oil smuggling network that some experts believe generates at least $1 B a year for Iran and its proxies has flourished in Iraq since Prime Minister Mohammed Shia al-Sudani took office in 2022.
Venezuela's oil, fuel exports approach 1 MMbpd fueled by sales to Asia
Venezuela's oil exports jumped last month on higher sales to its mainstay Asia customers, and approached 1 MMbpd, a level not seen since early 2020.
U.S. crude stocks fall, gasoline and distillate inventories rise
U.S. crude stocks fell while gasoline and distillate inventories rose last week, the U.S. Energy Information Administration (EIA) said on Wednesday.
Germany's BSW pushes to restore Russian oil to Schwedt refinery, seeks regional legitimacy
Germany's leftist Sahra Wagenknecht Alliance (BSW), set to join a new Social Democrat-led regional state government in Brandenburg, announced plans on Wednesday to push for the main refinery that supplies most of Berlin's needs to be supplied with Russian oil once more.
Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs
Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% import tariffs on crude imports from the two countries.
Singapore distillates stocks tick up for fifth week
Singapore's middle distillates inventories advanced for the fifth consecutive week to their highest in seven weeks, as persistent weakness in diesel/gasoil exports countered a jump in jet fuel/kerosene exports.
Chevron sees California's fuel inventory law raising prices for customers
Chevron said that California's recently enacted legislation on oil refineries needing to maintain minimum fuel stocks was "flawed."
Russian Urals oil sales to Turkey in Nov. up 38% m/m as STAR refinery increases runs
Russian Urals oil supplies to Turkey's ports in November increased to 9.9 MMbbl from 7.4 MMbbl in October as its main consumer was back from outage.
Russia's oil and gas revenue down by a third in November m/m
Russia's oil and gas revenue in November is seen falling by one third to 0.78 T roubles (some $7.5 B) from 1.21 T in October.
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