Exclusive: As oil forecasts call for $100, India considers cutting back crude imports
With oil traders forecasting crude oil to rise to $100 a barrel by the end of the year, Indian refiners are considering cutting back their imports and relying more on cheaper crude already stored in inventories, according to industry executives.
Algeria says global oil market is balanced
The world crude oil market is currently balanced, Algerian Energy Minister Mustapha Guitouni said on Monday ahead of a meeting of producers in Algiers.
Russia's oil industry can shoulder extra taxes, finance ministry says
Russia’s oil industry is awash with cash and will be able to withstand the planned 1 trillion rubles ($15 billion) in extra taxes over the next six years, Alexei Sazanov, the head of the tax department in the finance ministry, said in an interview.
Devon says will deal with gas issues before bringing wells online
U.S.-based Devon Energy Corp will not bring oil wells online unless it has the capacity to deal with the gas byproducts, Chief Executive David Hager told a conference on Wednesday.
Iran's Oil Woes Rekindle Hedge Fund Optimism on Price Rally
A looming shortage of Iranian oil supplies has hedge funds switching gears.
Brent Crude Nears Two-Month High as Iran Ships Least Since 2016
Oil rose to the highest in almost two months in London as Iranian crude exports tumble, with Asian buyers taking fewer cargoes from the Middle Eastern nation weeks before U.S. sanctions take full effect.
Oil prices higher as U.S. sanctions limit Iran exports
Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November, but gains were limited by higher supply from OPEC and the United States.
U.S. energy companies fume over rejected steel tariff exemptions
The U.S. Commerce Department recently granted a tariff exemption to oil major Chevron for its imports of 4.5-inch Japanese steel tubes for oil exploration.
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