Sour crude oil supplies for U.S. Gulf Coast oil refiners will be squeezed in coming weeks, market participants said, as global demand rises following this month's OPEC+ production cut.
U.S. crude exports climbed to a record of about 4.5 million bpd in March, spurred by recovering Chinese demand and competitive pricing for U.S. oil.
U.S. Energy Secretary Jennifer Granholm told lawmakers her department could start repurchasing oil for the Strategic Petroleum Reserve after completing a congressionally mandated sale next month.
Oil prices fell about 2% to a one-week low as a political standoff over the U.S. debt ceiling stoked recession jitters in the world's biggest oil consumer, while rising U.S. jobless claims and weak Chinese economic data weighed.
A number of oil and gas companies in Canada's main crude-producing province Alberta restarted shuttered production as wildfires that sparked widespread evacuations eased, although officials warned conditions could deteriorate.
As part of its commitment to help businesses and cities reduce greenhouse gas emissions from the transportation sector effectively, Neste today announced a new partnership with PetroCard to grow the accessibility of Neste MY Renewable Diesel in the Pacific Northwest region of the United States.
Russia has started diesel exports to Chile, expanding its oil products supplies to Latin America after a European Union embargo forced traders to find new outlets.
GAIL Ltd, the country's top gas supplier, plans to build a $4.89-B ethane cracker near its LNG import plant in Western India as it seeks to meet an expected surge in demand.
Honeywell today announced its innovative, new, UOP eFining technology, a ready-now solution for producing low-carbon sustainable aviation fuel.
Chilean state oil company National Petroleum Company said it has signed a temporary agreement with Argentine oil firm YPF to import crude through the Trasandino pipeline, a key step for both countries' trade.