US crude oil stocks fall more than expected, reversing previous small rise
US crude oil inventories fell by more than expected in late September, dropping by 4.34 million bbl, reported the American Petroleum Institute (API).
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US crude oil inventories fell by more than expected in late September, dropping by 4.34 million bbl, reported the American Petroleum Institute (API).
The company emerged victorious over competing bids from industry giants bp and EOG Resources.
Saudi Arabia is preparing to increase its oil output to regain its market share, with abandoning its required oil price part of the plan.
Multiple energy companies, both domestic and international, have submitted bids for the ninth round of India's Open Acreage Licensing Policy (OALP-9), as confirmed by the Directorate General of Hydrocarbons (DGH), the country's upstream regulator.
Reuters has reported that the US Federal Trade Commission is expected to greenlight US oil producer Chevron's purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil's challenge to the US$53 billion deal as its final hurdle.
The oil body said there "has been further recognition that the world can only phase in new energy sources at scale when they are genuinely ready”.
DNO ASA, the Norwegian oil and gas operator, announced the completion of a second well delineating the play-opening 2023 Heisenberg oil and gas discovery in Norwegian North Sea license PL827SB.
Reuters has reported that Tropical Storm Helene was expected to turn eastward on its track through the Caribbean and into the Gulf of Mexico, increasing the threat of high winds and heavy rains to Cuba and Florida but lessened the risk to US offshore oil production, forecasters said.
Caterpillar Oil & Gas has announced that North American pressure pumping operators using its Tier 4 DGB system reduced diesel consumption by approximately 100 million gallons in 2023.
Challenger, with primary assets in the South American nation, has now received government approval to move the AREA OFF-1 licence to Chevron.
Read today's market analysis on behalf of Rania Gule, Senior Market Analyst, XS.com
Reuters reported that oil prices rose on news of monetary stimulus from China while another hurricane threatened supply in the US.