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Oil rises as Germany pledges economic stimulus, OPEC slashes output

3 hours ago DieselGasoil Comments Off on Oil rises as Germany pledges economic stimulus, OPEC slashes output
New York — Crude futures edged higher Friday as Germany’s leadership pledged to undertake economic stimulus measures and OPEC reported sharply lower crude output in July. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX September WTI settled up 40 cents at $54.87/b and ICE October Brent was 41 Read More

OPEC reports big drop in crude production, amid ‘somewhat bearish’ market outlook

8 hours ago DieselGasoil Comments Off on OPEC reports big drop in crude production, amid ‘somewhat bearish’ market outlook
London — Led by its kingpin Saudi Arabia, which said it pumped at its lowest level in more than five years, OPEC on Friday reported it slashed its crude production in July, as it continues to battle slumping oil prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC Read More

Huawei to unveil its own mapping service to challenge Google Maps

10 hours ago DieselGasoil Comments Off on Huawei to unveil its own mapping service to challenge Google Maps
Shortly after launching its own operating system, HarmonyOS, to replace Google’s Android, Chinese tech giant Huawei vowed to take on Google Maps, with plans to unveil a domestically-created alternative. The move is aimed to cope with Washington’s crackdown on the company amid the simmering trade war between the US and China. In case the company Read More

Refinery news roundup: Minor works at Russian refineries, Antipinsky back

12 hours ago DieselGasoil Comments Off on Refinery news roundup: Minor works at Russian refineries, Antipinsky back
London — Only minor works were heard at Russian refineries before the start of the autumn refinery turnaround season in October. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Meanwhile, the Antipinsky refinery resumed operations on July 18, Sberbank said in a statement. Socar Energoresurs, a joint venture between Read More

OPEC sees ‘somewhat bearish’ oil outlook even as market tightens

12 hours ago DieselGasoil Comments Off on OPEC sees ‘somewhat bearish’ oil outlook even as market tightens
By Grant Smith on 8/16/2019 LONDON (Bloomberg) – Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth and the long-running trade war, even though supplies will be tighter than previously thought, OPEC said. The Organization of Petroleum Exporting Countries, which pumps about a third of the Read More

Refinery news roundup: Africa launches come into focus

12 hours ago DieselGasoil Comments Off on Refinery news roundup: Africa launches come into focus
London — News has emerged about new launches in Africa. Separately, Engen’s refinery in Durban is facing “some challenges” in production and hence will not be able offer bunker fuel in the spot market until the end of September, sources said. The refinery was “highly unlikely” to resume offering until the end of September, which Read More

Japan keeps gobbling up US debt as Russia keeps on dumping

15 hours ago DieselGasoil Comments Off on Japan keeps gobbling up US debt as Russia keeps on dumping
China lost its status of top foreign holder of US Treasury securities in June for the first time in around two years, US Treasury Department data released on Thursday shows. Japan is now the top holder of US debt. Japan added $21.9 billion to its stockpile of US Treasury Bills, bringing its holdings to a Read More

STAR Market tech board offers hope to Chinese venture capitalists

16 hours ago DieselGasoil Comments Off on STAR Market tech board offers hope to Chinese venture capitalists
SHANGHAI/HONG KONG (Reuters) – When Chinese venture capital firm New Vision Capital invested in two startups focusing on cloud computing and micro-optics, the plan was to eventually take them public on the Nasdaq exchange. FILE PHOTO – A sign for STAR Market, China’s new Nasdaq-style tech board, is seen after the listing ceremony of the Read More

‘Impudent’ speech triggers more North Korea missile tests

22 hours ago DieselGasoil Comments Off on ‘Impudent’ speech triggers more North Korea missile tests
North Korea has test fired two more missiles, just hours after saying it would never sit down for talks with South Korea again. It is the latest in a series of firings, triggered by, amongst other things, joint military exercises between the US and South Korea. North Korea has called them a rehearsal for war. Read More

Trump says China talks ‘productive’; Beijing vows tariff retaliation

24 hours ago DieselGasoil Comments Off on Trump says China talks ‘productive’; Beijing vows tariff retaliation
MORRISTOWN, N.J. (Reuters) – U.S. President Donald Trump said on Thursday that U.S. and Chinese negotiators were holding “productive” trade talks and expected them to meet in September despite U.S. tariffs on over $125 billion worth of Chinese imports taking effect Sept 1. Containers are seen at Yantian port in Shenzhen, Guangdong province, China July Read More