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Crude oil

U.S. crude and gasoline stockpiles fall as refining ramps up

U.S. crude oil stockpiles fell unexpectedly last week as exports rose and refiners continued to increase activity, while gasoline inventories decreased more than expected.

Oil prices edge down as Russia lifts supplies, jet fuel demand stirs caution

Oil prices edged down early after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel.

Colombia cops seize 7.3-MM gallons of crude in raids on illegal refineries

Colombian police have seized more than seven million gallons of crude oil in raids on illegal refineries, in an operation targeting production of bootleg fuel in Norte de Santander province.

Iraq to curb oil exports to compensate for overproduction

Iraq will reduce its crude exports to 3.3 MM  bpd in the coming months to compensate for any rise above its OPEC+ quota in January and February.

Italy's Saras reports drop in 2023 core profit of refined products ahead of Vitol's takeover

Saras  reported a 41% fall in its full-year comparable core earnings due partly to weaker profitability of refined products, as global commodity trader Vitol prepares to take over the Italian oil refiner later this year.

U.S. crude stocks post surprise drop as refiners ramp up processing

Crude inventories fell by 1.5 MM barrels to 447 MM barrels last week, the EIA said, compared with analysts' expectations in a poll for a 1.3 MM-barrel rise.

Work at Lukoil's refinery in Russia's Nizhny Novgorod temporarily suspended

Work at the refinery of Russia's Lukoil in Nizhny Novgoorod was temporarily suspended due to an "incident," Russia's RIA state news agency reported, citing the oil company.

Refined fuels and oil prices: long positions decline as distillate sales stall price rally

Benchmark oil prices plateau as investors finish repurchasing bearish short positions, impacting refined fuels and U.S. natural gas with declining sales and a short covering rally, respectively.

Nigeria announces reforms to lure oil and gas investment

Nigeria will offer tax credits and streamline contracting processes for new oil and gas projects, the Information Minister said, in a move by Africa's top energy producer to attract much-needed investment.

Oil prices nearly flat as market weighs Chinese demand, North America supply increase

Oil prices were little changed as markets weighed new economic data from China against increasing supply from the Western Hemisphere.