Category «Oil»

Saudi Arabia plans to increase oil output amid recovery in prices

Saudi Arabia plans to increase oil output amid recovery in prices

By Administrator_India Capital Sands Saudi Arabia plans to increase oil output in the coming months, reversing a recent production cut, the Wall Street Journal reported on Wedn­esday, citing advisers to the country. The world’s largest oil exporter surprised oil markets last month when it said it would unilaterally slash 1 million barrels a day of crude production in …

Oil Down, But Still Supported by Vaccine Rollout Optimism

Saudi Arabia plans to increase oil output amid recovery in prices

By Administrator_India Capital Sands Oil was down ever so slightly on Friday morning in Asia, with prices holding on after a sharp rally overnight, as the rollout of COVID-19 vaccines increased hopes that fuel demand would recover in 2021. Brent oil futures inched down 0.10% to $50.20 by 3:13 AM GMT, giving up some earlier …

Oil gains after stockpile draw amid hopes for coronavirus vaccine

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

By Administrator_India Capital Sands Oil futures rose on Wednesday after an industry report showed that U.S. crude inventories fell by more than expected as prices continued to be supported by news of successful trials of a vaccine for coronavirus. Brent crude was up 31 cents, or 0.7%, at $43.92 a barrel by 0213 GMT, while …

Oil Pipeline Operators Offer New Discounts as Demand Craters

Oil Down, With Rising COVID-19 Cases Increasing Fuel Demand Fears

By Administrator_ India Capital Sands U.S. oil pipeline operators are slashing fees to encourage customers in Texas to keep using their networks to ship barrels to the Gulf Coast as the pandemic wreaks havoc on profits. Kinder Morgan Inc (NYSE:KMI). is offering discounts of about 50% on the Eagle Ford pipeline for some existing customers, according …

Oil Slumps on COVID Fears, Oversupply, U.S. Elections

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

By Administrator_India Capital Sands Oil was down on Wednesday morning in Asia, continuing major overnight losses. Oversupply fears were the main driver of the fall, with U.S. refineries beginning to shed labor. Brent oil futures slid 1.13% to $41.09 by 11:29 AM ET (3:29 AM GMT) and WTI futures were down 0.94% to $38.92. Heavy falls in the …

Oil Inched Up On Libya Supply, Another U.S. Storm

Oil Edges Up From Three-Week Low as Trump’s Outlook Improves

By Administrator_India Capital Sands Oil inched up on Monday morning in Asia, with concerns about new supply from reopening Libyan reserves balanced out by news of yet another shutdown on the way for U.S rigs in the Gulf of Mexico, due to Tropical Storm Beta. Brent oil futures inched up 0.05% to $43.17 by 12:38 PM …

Indian refineries scale back output as virus chokes demand

Indian refineries scale back output as virus chokes demand

By Administrator_India Capital Sands India’s crude processing in March fell 5.7% from a year earlier, its biggest drop since September, as the coronavirus crisis and travel restrictions to curb its spread dented fuel demand and forced refineries to cut output. Refiners processed about 21.20 million tonnes, or 5.01 million barrels per day (bpd), of oil …

Oil prices recover ground after market turmoil fuels price plunge

Oil prices recover ground after market turmoil fuels price plunge

By Administrator_India Capital Sands Oil prices found some respite on Wednesday as U.S. oil futures rose more than 20% and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the coronavirus outbreak. After falling into negative territory for the first time in history amid record trading volumes, …