Crude oil
OPEC says winning battle to curb oil glut
VIENNA (Reuters) — OPEC and other oil producers are clearing a glut that has weighed on crude prices for three years and may wait until January before deciding whether to extend their output curbs beyond the first quarter of 2018, ministers said on Friday.
EIA: Changing quality mix affecting crude oil price differentials, refining decisions
Growth in global liquid fuels supply since March 2017 has been driven by increases in the production of historically higher-priced light crude oils. This growth has more than offset recent declines in the production of medium and heavy crude oils. As these production trends continue, price differences between certain crude oils are narrowing, and refinery operation decisions are changing.
Energy contract lawsuits expected to jump in Harvey's wake
HOUSTON (Reuters) — Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of US fuel output and pushing some oil production offline.
Russia set to pipe more oil to China, stepping up race with Saudis
BEIJING/MOSCOW (Reuters) — Chinese oil refineries are gearing up to receive more Russian oil transported through an expanded Siberian pipeline network from January, likely cementing Russia's position as China's largest oil supplier in a close race with Saudi Arabia.
ADNOC to cut November crude oil exports to Asia
SINGAPORE (Reuters) — Abu Dhabi National Oil Company has informed buyers in Asia it will reduce supplies of its flagship Murban crude by 15% in November to comply with OPEC production cuts, trade sources said on Wednesday.
Oil up 2% despite US crude build; set for best Q3 since 2004
NEW YORK (Reuters) — Oil prices rose nearly 2% on Wednesday, despite a rise in US crude inventories, with the market heading for its largest third-quarter gain in 13 yr after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts.
Maersk sells oil tankers to owner, opening door to Mitsui
COPENHAGEN (Reuters) — A.P. Moller-Maersk has agreed a $1.71 B deal to sell its oil tanker division to its controlling shareholder, who in turn will enter an ownership consortium with Japan's Mitsui & Co.
Oryx Midstream to build regional crude oil transport pipeline in Delaware Basin
MIDLAND, Texas — Oryx Midstream Services II, LLC announced that it will build a new regional crude oil transportation pipeline serving the Delaware Basin with initial capacity of up to 400,000 bpd.
Colombia's ELN rebels attack Cano Limon oil pipeline
BOGOTA (Reuters) — Rebels from the Marxist ELN, Colombia’s largest active guerrilla group, destroyed part of the Cano Limon-Covenas oil pipeline on Monday, just two weeks before the start of a bilateral ceasefire and an end to hostilities, military and Ecopetrol sources said.
India's Bharat Oman refineries buys first US crude for Nov arrival
SINGAPORE (Reuters) — India’s Bharat Oman Refineries Ltd (BORL) has bought, via tender, its first crude cargo from the United States, which will be delivered in November, two trade sources said on Tuesday.
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