Russian Urals crude weakened for an eight straight trading day on Monday due to weak European refining demand, falling well below $100 a barrel for the first time in a year in a move to increase the pain for Russian state finances amid Western sanctions.
A crude oil pipeline in Gachsaran region in south-western Iran cracked on April 12 and large amounts of oil leaked out of the pipeline, Trend reported on April 13.
The amount of 2,222,850 tons of crude oil or 100.4 percent versus March 2013 (+7.9 thousand tons) was produced at Tatneft, while the three months production amounted to 6,452,681 tons (100.45%), which is 28,767 tons more than in 2013 (100.45%) Tatneft’s press office said
Brazilian state-controlled oil giant Petrobras produced an average of 1.93 million barrels of crude per day at its domestic fields last year, down 2.5 percent from 2012, the company said on January 31, EFE has reported.
China's commercial crude oil inventories fell for a second straight month in November, official news agency Xinhua said on Tuesday, with some refineries drawing on crude stockpiles after a pipeline blast in eastern China killed 62 people.
Igor Sechin, Rosneft President and Chairman of the Management Board, and Paolo Scaroni, Eni CEO in the presence of the Russian President, Vladimir Putin, and Italy’s Prime Minister, Enrico Letta, signed a term sheet on mutual crude supply and a heads of agreement on logi
Some of the world’s largest oil traders including Vitol Group, Morgan Stanley and Royal Dutch Shell Plc (RDSA) are asking a judge to stop the disclosure of millions of records gathered by the top U.S.
OPEC will be in a position to increase crude oil output by an additional 6mn barrels per day (bpd) by 2018 to offset declining production in the US and other places, according to its secretary general, the Omani newspaper Muscat Daily reported on October 21.
Polskie Górnictwo Naftowe i Gazownictwo SA has plans to increase production of crude oil in 2014 to 1.19 million tonnes, PGNiG said on October 17.
West Texas Intermediate crude rose from a three-month low as China’s economic growth accelerated for the first time in three quarters, signaling increased demand in the world’s second-biggest oil consumer, Bloomberg said on October 18.