Crude reversed losses of as much as 1.5% after President Donald Trump signed the long-awaited bill containing $900 billion of virus relief that’s expected to boost energy demand in the world’s largest economy. SourceContinue Reading

“To restore our output, that we’ve reduced a lot, the price range of $45 to $55 a barrel is the most optimal,” Russia’s Deputy Prime Minister Alexander Novak told reporters in Moscow. “Otherwise we’ll never restore production, others will restore it.” SourceContinue Reading

Iraq has been receiving 5 million cubic meters a day since Iran cut its daily exports from 50 million cubic meters two weeks ago, Ahmed Moussa, a spokesman for Iraq’s electricity ministry, said in an interview. SourceContinue Reading

World Oil editors discuss The North Face doubling down on its principled stand against well-paying American jobs, Russia wants to see OPEC+ production rise in February, and U.S. land regulators shrink Alaskan oil lease acreage. SourceContinue Reading

The LNG vessel Tristar Ruby, which loaded at the Cove Point plant in Maryland, is headed for Croatia’s terminal on the Adriatic island of Krk, according to ship-tracking data on Bloomberg. The ship is scheduled to arrive on Jan. 1, the expected start date of the terminal. SourceContinue Reading

Fighters who’ve aligned with Islamic State in August have already seized the port town of Mocimboa da Praia, about 42 kilometers south of Mute, raising the stakes in a conflict that’s killed about 2,500 people and caused 570,000 to flee their homes since it started three years ago. SourceContinue Reading

Rollout of coronavirus vaccines and improvement in ties between the United States and China are likely to improve demand for oil, Energy Minister Suhail Al-Mazrouei told Sky News Arabia. “Recovery will be gradual, and won’t happen in a quarter or two,” he said. SourceContinue Reading

A new virus strain and the realization that vaccines will take some time to be rolled out have worsened the short-term oil outlook, while the OPEC+ alliance is poised to add 500,000 barrels a day of production in January. SourceContinue Reading

Saudi Arabia’s export revenue fell by nearly a quarter in October from a year earlier, driven largely by a slump in global oil prices. SourceContinue Reading

The deal is part of an effort by President Xi Jinping’s government to consolidate the nation’s major pipelines and other midstream facilities into a single firm, intended to boost competition among drillers and downstream oil and gas sellers. SourceContinue Reading