Crude oil
Oil steady as rising US output offsets OPEC-led cuts
LONDON (Reuters) -- Oil prices steadied on Tuesday as rising US drilling activity helped undermine efforts by OPEC and other producers to cut output to try to prop up the market.
Sulfur-rich crudes, usually discounted, shine after OPEC cuts
LONDON (Reuters) -- Efforts to stem the world's surplus of crude oil have thus far only moderately balanced the market -- but have turned typically lower-quality crude into the most sought after barrels.
OPEC achieves 82% of pledged oil output cut in January
LONDON/DUBAI (Reuters) -- OPEC's oil output is set to fall by more than 1 MMbpd this month, a Reuters survey found on Tuesday, pointing to a strong start by the exporter group in implementing its first supply cut deal in eight years.
Oil extends declines on rising US output
TOKYO (Reuters) -- Oil prices extended declines on Monday, dragged down by signs of growing production in the United States that could partly offset output cuts by OPEC and other producers.
Iran's oil exports to rise slightly in February
TOKYO (Reuters) -- Iran's monthly oil exports are set to climb slightly in February, as Indonesia takes its first shipment since sanctions on Tehran were lifted last year, a person with knowledge of Iran's tanker loading schedule said.
US gasoline stockpiles build for fourth week on weak demand
(Reuters) -- Inventories of gasoline rose sharply in the United States for the fourth straight week amid weaker-than-usual demand, while crude oil stocks were also higher, the Energy Information Administration said on Wednesday.
OPEC cuts will not impact Saudi oil supply to Japan -Saudi official
TOKYO (Reuters) -- Crude supplies to Japan from its biggest supplier Saudi Arabia will not be impacted by last year's agreement between OPEC and non-OPEC countries to cut output, a senior official of the kingdom said on Thursday.
Oil slips on rising US inventories, awaits EIA data
LONDON (Reuters) -- Oil prices fell on Wednesday after builds in US inventories reinforced expectations that increasing shale output this year would reduce the impact of production cuts by OPEC and other major exporters.
Shell, Phillips 66 buy 6.4 MMbbl of oil from US emergency reserve
WASHINGTON (Reuters) -- Oil companies Shell and Phillips 66 together bought 6.4 MMbbl of oil last week from the Strategic Petroleum Reserve (SPR), according to a Department of Energy document released on Tuesday.
India to fill Mangalore strategic reserve with UAE oil
NEW DELHI (Reuters) -- India signed a deal with the United Arab Emirates on Wednesday that allows the Gulf nation to fill half of an underground crude oil storage facility at Mangalore that is part of New Delhi's strategic reserve system.
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