Crude oil
OPEC figures show oil output cuts exceed pledge in March
DUBAI/LONDON (Reuters) -- OPEC states cut oil output in March by more than they pledged under supply curbs, according to figures the exporter group uses to monitor its supply, extending a record of higher-than-expected adherence to its first production cut in eight years.
OPEC's war on oil overhang starts to bear fruit
LONDON (Reuters) -- OPEC appears to be slowly winning the battle against a global overhang of crude and oil products as inventories in onshore and floating storage decline.
EIA: US crude oil imports increased in 2016
Gross US crude oil imports in 2016 rose to an average of 7.9 MMbpd, 514,000 bpd more than the 2015 average. Net crude oil imports increased by a smaller amount (460,000 bpd), as US crude oil exports rose despite a decline in US crude oil production.
First oil tanker for Myanmar-China pipeline starts offloading
BEIJING (Reuters) -- First oil tanker carrying 140,000 t of crude oil started discharging on Monday for delivery into a 480 mi Myanmar oil pipeline, China's state news agency Xinhua reported.
Hyundai Oilbank buys 2nd US Southern Green Canyon crude for June
SEOUL (Reuters) -- Hyundai Oilbank, South Korea's smallest refiner by capacity, will receive its second cargo of US Southern Green Canyon crude in June, a company spokesman said on Monday.
Oil rises towards $56 on Libyan field shutdown, Syria
NEW YORK (Reuters) -- Oil rose toward $56 a barrel on Monday, supported by another shutdown at Libya's largest oilfield over the weekend and geopolitical tensions following last week's US missile strike on Syria.
China, Myanmar reach agreement on oil pipeline
BEIJING (Reuters) -- China and Myanmar have reached an agreement on an oil pipeline between the neighboring countries and the project will open "very quickly," China's vice foreign minister Liu Zhenmin said on Monday.
China state refiners given 1.3 MMt of general trade fuel quotas
BEIJING (Reuters) -- China's state oil refiners have been granted a combined 1.315 MMt of quotas to export refined fuel under so-called general trade terms, three sources familiar with the matter said on Monday.
India's oil imports from Iran top 500 Mbpd in 2016–2017
NEW DELHI (Reuters) -- India's Iran oil imports jumped to a record high in 2016–2017 topping 500 Mbpd as refiners boosted purchases after lifting of some Western sanctions against Tehran last year.
Oil hits one-month high after US missile strike in Syria
LONDON (Reuters) -- Oil prices hit a one-month high on Friday after the United States fired missiles at a Syrian government airbase, sending shockwaves through global markets and raising concerns that the conflict could spread in the oil-rich region.
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