Middle East
Saudi Arabia's 'icing on the cake' oil cut could feed U.S. producers
Saudi Arabia has crafted a complex OPEC+ deal with a view to punishing investors that have bet on falling oil prices but could inadvertently lend long-term support to the rival U.S. energy industry, OPEC+ insiders and market watchers said.
Russia fully enforces its oil output cuts
Russian is fulfilling its oil output cut obligations, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 TV channel following a meeting of the OPEC+ group of leading oil producers.
Oil gains 2% after U.S. debt deal and jobs data, focus turns to OPEC
Oil prices rose about 2% after the U.S. Congress passed a debt ceiling deal that averted a government default in the world's biggest oil consumer and jobs data fed hopes for a possible pause in interest rate hikes ahead of a meeting of OPEC and its allies this weekend.
OPEC+ unlikely to deepen oil supply cuts at June 4 meeting
OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting despite a fall in oil prices toward $70 per barrel.
Lukoil raises oil output at Iraq's West Qurna 2 to 480,000 bpd
Russia's Lukoil has increased oil production at Iraq's southern West Qurna 2 oilfield by 80,000 barrels per day bpd to a total of 480,000 bpd.
Saudi diesel imports from Russia, exports to Singapore hit records
Leading crude exporter Saudi Arabia is maximizing refining profits by importing unprecedented amounts of cheap Russian diesel and in turn shipping record volumes to Singapore, where the fuel can achieve higher margins, shiptracking data shows.
Oil prices up amid OPEC+ supply cut uncertainty
Oil prices ticked up as the market weighed conflicting messages on supply from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting.
Russia leaning towards leaving oil output unchanged ahead of OPEC+ meeting
Russia is leaning towards leaving oil production volumes unchanged ahead of an OPEC+ policy meeting in June because Moscow is content with current prices and output.
Air Products signs $1-B deal for processing facility in Uzbekistan
Industrial gases maker Air Products and Chemicals said it had signed a $1-B deal with the Republic of Uzbekistan government and Uzbekneftegaz JSC to acquire, own and operate a natural gas processing facility in the country.
Oil prices buoyed by Saudi warning and falling U.S. stockpiles
Oil prices rose, driven up by tightening U.S. inventories and a warning from the Saudi energy minister that raised the prospect of further OPEC+ production cuts.
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