Page 3 - Oil Market

Key Iraq oil pipeline resumes operation following explosion in Turkey

A pipeline that carries oil from Iraq to world markets resumed operating Wednesday after an explosion in southeastern Turkey forced it to shut down for several hours.

Shrink to fit: The year Europe's Big Oil starts to become Small Oil

Surging oil and gas prices in 2021 delivered billions of dollars in profits to top oil companies

Confusing signals for OMCs with crude supply-demand equation set to change

Lower oil prices can improve margins, but they could impact inventory value while a third Covid wave can potentially hurt growth

Explained: How the release of SPR oil is more politics than economics

India agreed to release 5 mn bbl of crude oil from its SPR at an unspecified time

US oil prices rise to highest since 2014 amid global energy crunch

US oil prices rose for a fifth day on Wednesday to their highest since 2014 amid global concerns about energy supply on signs of tightness in crude, natural gas and coal markets.

Petrol, diesel prices rise again amid volatility in global oil market

The prices of petrol and diesel rose simultaneously again on Tuesday amidst volatility in the global oil prices with benchmark crude increasing to above $80 a barrel.

Saudis triumph in oil market with comeback from Covid-19 crisis

Eighteen months after slashing crude production during the pandemic, Riyadh is set to pump at almost pre-Covid levels of 9.8 million barrels a day this month

OPEC+ considers options for releasing more oil to the market: Sources

The nearest month any increase could occur is November since OPEC+'s last meeting decided the October volumes

Petrol, diesel prices rise again amid volatility in global oil market

In Mumbai, the petrol price increased by 21 paisa per litre to Rs 107.99 per litre, while diesel rates rose to about Rs 97.80 a litre

Hess sees tight oil market in near term, underinvestment risk ahead

MELBOURNE (Reuters) -Hess Corp sees oil markets remaining tight in the short term and supporting strong prices as demand recovers more quickly than supply post-pandemic with U.S. shale producers holding back capital spending, its president said on Monday.

Vitol CEO sees global gas market set for reasonably bullish 5-year outlook

Extreme cold weather last winter thinned natural gas stocks in the West and inventories have failed to be rebuilt in time, resulting in record prices near $26 per million British thermal units (mmBtu)

Oil rises from highest since 2018 with global markets tightening

The surge in natural gas prices is expected to force some consumers to switch to oil, tightening the market further ahead of the northern hemisphere winter.

Fuel prices stable for fortnight amidst volatility in global oil market

Auto fuel prices in the country have maintained stability amidst volatility in global oil prices with crude on the rise again.

Oil market anchors around $70/b, but volatility to return

Even with Covid concerns creating recent jitters in big consumers like China and US, the impact appears to be diminishing as the global economy recovers

OPEC+ committee expects oil market to return to surplus in 2022

The OPEC+ joint technical committee (JTC) expects the oil market to remain in a 0.9 million barrel per day (bpd) deficit this year, but hit a surplus of 2.5 million bpd in 2022

Oil prices slump 4% on concerns over demand and OPEC supply boost

NEW YORK (Reuters) -Oil prices tumbled about 4% on Monday as weak economic data from China and the United States, the world's top oil consumers, and higher crude output from OPEC producers stoked fears of weakness in oil demand and oversupply.

Oil market sees improved demand, decline in surplus supply: Iraq minister

Iraqi Oil Minister Ihsan Abdul Jabbar said on Sunday that the oil market has seen an improvement in demand and a decline in surplus and stockpiles

OVL on an oil slick, struggles with geopolitical and domestic challenges

Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.

Oil prices fall amid dollar strength; demand picture still bullish

Brent crude futures were down 52 cents, or 0.7%, at $72.56 a barrel as of 1100 GMT

Oil dips on profit-taking after logging two-year high on OPEC+ curbs

NEW YORK (Reuters) - Oil prices pulled back on Monday after touching two-year highs on expectations of improved demand and OPEC producers keeping supply curbs in place.