Canadian oil and energy company Enerplus reported an 18.6% revenue loss for its Q1 2024 report compared to figures at the same period last year.
Tags: Oil
Oil Market on Edge Following Second Ship Attack in Red Sea
Oil prices are experiencing fluctuations as traders wait for OPEC+'s decision due to another second ship attack in the Red Sea.
Iran Approves Plan to Boost Oil Output to 4 Million Barrels Per Day: Report
Iran plans to boost its oil production to four million barrels per day. Iran plans to boost its oil production to four million barrels per day. Iran Approves Plan to Increase Its Oil Production The country's Tasnim news agency said Sunday that an economic council headed by Iran's interim president Mohammad Mokhber approved this increase in its oil output.
Democrats Urge DOJ to Probe Big Oil’s Misinformation Campaign on Climate Change
The Department of Justice has been requested by House and Senate Democrats to consider its probe into oil industry's climate change misinformation.
Gas Prices Are Predicted to Increase This Summer, With an Average of $3.70 per Gallon
Gas prices are expected to rise by about $0.10 per gallon this summer due to decreased refinery capacity and higher refining costs, with the average price projected to be around $3.70 per gallon.
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Shell's Singapore oil refinery and chemical assets will be sold to a Glencore-led joint venture with a purchase sale of below $1 billion, following agreements in place for continued collaboration and strategic alignment with CAPGC.
Olive oil costs are still rising, so consumers should prepare for more increases. Olive oil prices are expected to exceed £16 per liter ($21).
US crude inventories reaching record highs led to further declines in oil prices, with West Texas Intermediate dropping below $80 per barrel, surprising traders and reducing investor confidence.
The World Bank warns that escalating conflicts in the Middle East could push oil prices over $100 a barrel, potentially increasing the recent decline in global inflation and worsening economic challenges worldwide.
U.S. regional banks are filling the lending gap for oil, gas, and coal companies left by European lenders amid climate concerns, with banks like Citizens Financial Group Inc., BOK Financial Corp., and Truist Securities Inc. increasing fossil-fuel loans.
Russian diesel fuel stranded at the sea was attributed to mostly Ukraine drone attacks on their oil refineries and heightened sanctions.
Sergio Massa, Argentina's Economy Minister and presidential candidate, has warned oil producers of impending export restrictions unless they address fuel shortages.
Russia's Sokol crude faces a backlog, with tankers stranded off Singapore and South Korea due to US sanctions. China emerges as a key importer, aiding clearance.
Oil prices remained relatively stable on Thursday, with Brent crude futures settling unchanged at $82.96 per barrel.
