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Pemex production decline continues despite government stimulus, output targets

2 hours ago DieselGasoil Comments Off on Pemex production decline continues despite government stimulus, output targets
Highlights Crude output falls to 1.68 million b/d in May, still above 2019 low Gross natural gas production rises 25 MMcf/d to 4.84 Bcf/d Denver — Mexico’s state-owned producer Pemex reported a continued decline in its crude oil production last month, which was partially offset by a modest uptick in condensates, natural gas liquids and Read More

Crude treads water as market looks to G-20 for direction

3 hours ago DieselGasoil Comments Off on Crude treads water as market looks to G-20 for direction
New York — Crude futures finished Tuesday’s session mixed as the market treaded water ahead of the G-20 summit beginning later this week in Osaka, Japan. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now ICE August Brent settled up 19 cents at $65.05/b while NYMEX August WTI fell 7 Read More

US to lead oil output growth through 2030: ConocoPhillips chief economist

3 hours ago DieselGasoil Comments Off on US to lead oil output growth through 2030: ConocoPhillips chief economist
Highlights Global oil demand expected to rise modestly to 2030 Refining capacity will adapt to lighter US crudes US crude export constraints seen as temporary Washington — The US will lead global oil production growth for the next decade, and tight oil can continue to grow beyond the 2030s even moderate prices, ConocoPhillips chief economist Read More

Gold soars to six-year high, stocks slide after Powell speech

4 hours ago DieselGasoil Comments Off on Gold soars to six-year high, stocks slide after Powell speech
NEW YORK (Reuters) – Gold soared to an almost six-year high on Tuesday on escalating U.S.-Iran tensions, while equity markets slid on disappointing economic data and uncertainty that the Federal Reserve will cut interest rates in July as has been expected. FILE PHOTO: Traders work on the main trading floor after the opening bell at Read More

Latest US tariff threat would hurt US oil, gas output: API

4 hours ago DieselGasoil Comments Off on Latest US tariff threat would hurt US oil, gas output: API
Highlights US depends on China for key drilling fluid component API says US energy security at stake in trade dispute US Q1 crude flows to China shrink to 6,991 b/d Washington — The latest US tariffs threatened against Chinese imports would hamper US energy exports, hurt domestic energy security, and push China to import more Read More

Gold soars to six-year high as trade, as Iran tensions mount

8 hours ago DieselGasoil Comments Off on Gold soars to six-year high as trade, as Iran tensions mount
NEW YORK (Reuters) – Gold soared to almost a six-year high on Tuesday on escalating U.S.-Iran tensions and U.S.-Sino trade anxiety, leading traders to pile into safe-haven government debt and to snap up the yen and Swiss franc at the expense of the dollar. FILE PHOTO: Traders work on the main trading floor after the Read More

International Petroleum Corporation announces commencement of drilling program in Malaysia

8 hours ago DieselGasoil Comments Off on International Petroleum Corporation announces commencement of drilling program in Malaysia
TORONTO, June 25, 2019 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that it has commenced drilling of the first well in a planned multi-well drilling program on Block PM307, located offshore Peninsular Malaysia. IPC is the operator of Block PM307 and holds a 75% working interest, with Read More

Why oil’s outlook could be even bleaker than expected

9 hours ago DieselGasoil Comments Off on Why oil’s outlook could be even bleaker than expected
By Bloomberg News on 6/25/2019 SINGAPORE and BEIJING (Bloomberg) — As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month. While the Saudi Arabian-led efforts to restrain supply amid surging Read More

Gold soars to six-year high as trade, Iran tensions mount

10 hours ago DieselGasoil Comments Off on Gold soars to six-year high as trade, Iran tensions mount
LONDON (Reuters) – Trade anxiety and escalating tensions between the United States and Iran sent gold soaring to a six-year high on Tuesday, and saw traders dive back into safe-harbour government bonds and the yen and Swiss franc at the expense of the dollar. FILE PHOTO: The German share price index DAX graph is pictured Read More

Saudi Aramco says it can keep oil flowing if Hormuz hit

10 hours ago DieselGasoil Comments Off on Saudi Aramco says it can keep oil flowing if Hormuz hit
By Heesu Lee on 6/25/2019 SEOUL (Bloomberg) –Saudi Arabian Oil has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the CEO of the state-run producer.“We are increasing our readiness,” Amin Nasser said in an interview in Seoul on Tuesday. “We can supply Read More