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Exclusive: Spain’s Repsol suspended swap deal for Venezuelan oil under U.S. pressure

3 hours ago DieselGasoil Comments Off on Exclusive: Spain’s Repsol suspended swap deal for Venezuelan oil under U.S. pressure
HOUSTON/MEXICO CITY (Reuters) – Spain’s Repsol suspended its swaps of Refining products for crude with Venezuela’s state-run oil company PDVSA, people familiar with the matter said, as U.S. officials weighed penalties for foreign firms doing business with Venezuela. FILE PHOTO: The corporate logo of Repsol is seen in their office in Caracas, Venezuela April 25, Read More

Automakers invest heavily in electric vehicles despite still-low demand

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NEW YORK (Reuters) – Demand for electric vehicles remains low in the U.S. market, but industry executives at the New York auto show this week said they are pushing ahead with billions of dollars in investments even while preaching patience. FILE PHOTO: FILE PHOTO: A Rivian R1S All-Electric SUV is displayed at the 2019 New Read More

Russia strikes back at Ukrainian sanctions with export ban on oil & petroleum products

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Russia has banned exports of oil and petroleum products among other goods to Ukraine, as well as blacklisting certain imports from the country in response to Kiev’s sanctions against Moscow. Apart from oil, the expanded restrictions on specific Ukrainian goods include engineering products, consumer goods, and metal products, worth almost US$250 million as of 2018, Read More

API: U.S. continues to lead the world in natural gas liquids, crude oil production

6 hours ago DieselGasoil Comments Off on API: U.S. continues to lead the world in natural gas liquids, crude oil production
4/18/2019 Photo: Gulfport Energy. WASHINGTON — The American Petroleum Institute’s latest monthly statistical report showed that the U.S. sustained its position as the world’s leading oil producer, continuing a pace of 12.1 MMbopd, matching February 2019. In addition, petroleum demand in March was the strongest for that month in more than a decade at 20.7 Read More

Russia strikes back at Ukrainian sanctions with export ban on oil & petroleum products

9 hours ago DieselGasoil Comments Off on Russia strikes back at Ukrainian sanctions with export ban on oil & petroleum products
Russia has banned exports of oil and petroleum products among other goods to Ukraine, as well as blacklisting certain imports from the country in response to Kiev’s sanctions against Moscow. Apart from oil, the expanded restrictions on specific Ukrainian goods include engineering products, consumer goods, and metal products, worth almost US$250 million as of 2018, Read More

Oil prices rise on lower U.S. stocks, OPEC+ supply cuts

12 hours ago DieselGasoil Comments Off on Oil prices rise on lower U.S. stocks, OPEC+ supply cuts
LONDON (Reuters) – Oil prices rose slightly on Thursday, boosted by a decline in U.S. inventories, ongoing supply cuts from OPEC and its allies, and U.S. sanctions on Venezuela and Iran. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Wilking/File Read More

Oil prices slip, but supply cuts support

14 hours ago DieselGasoil Comments Off on Oil prices slip, but supply cuts support
LONDON (Reuters) – Oil prices eased on Thursday, although a decline in U.S. inventories, ongoing supply cuts from OPEC and its allies, and U.S. sanctions on Venezuela and Iran all limited losses. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver, Colorado, U.S., February 2, 2015. REUTERS/Rick Read More

Stocks erase week’s gains after weak manufacturing surveys

15 hours ago DieselGasoil Comments Off on Stocks erase week’s gains after weak manufacturing surveys
LONDON (Reuters) – Global shares erased this week’s gains on Thursday after weak manufacturing surveys from Asia and Europe stoked fears of a slowdown in global growth, adding to profit taking ahead of the long Easter weekend. FILE PHOTO: A man looks at an electronic board showing the Nikkei stock index outside a brokerage in Read More

Oil prices slip, but ongoing supply cuts support

16 hours ago DieselGasoil Comments Off on Oil prices slip, but ongoing supply cuts support
TOKYO/SYDNEY (Reuters) – Oil markets fell on Thursday despite a surprise decline in U.S. inventories, but the price drops were tempered by a smaller-than-expected reduction in gasoline stocks and ongoing OPEC-led supply cuts. FILE PHOTO: A seagull flies in front of an oil platform in the Bouri Oilfield some 70 nautical miles north of the Read More

Oil prices slip amid ample U.S. output, Brent drifts away from five-month high

20 hours ago DieselGasoil Comments Off on Oil prices slip amid ample U.S. output, Brent drifts away from five-month high
TOKYO/SYDNEY (Reuters) – Oil prices dropped on Thursday as the impact of plentiful U.S. production offset a surprise decline in U.S. inventories, leaving international benchmark Brent retreating from a five-month high touched in the previous session. FILE PHOTO: A seagull flies in front of an oil platform in the Bouri Oilfield some 70 nautical miles Read More