Oil price news

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”.

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.

The US Energy Information Administration reports that cash from operations in 1Q24 has decreased due to lower natural gas prices.

Empire Petroleum Corporation has fixed the close of business on 30 September 2024 as the record date for a proposed subscription rights offering.

Saudi Arabia exported 5.7 million bbl/d of oil in July, the lowest level since August 2023, official data has revealed.

The US Energy Information Administration (EIA) does not directly survey petroleum consumption; instead, it calculates a similar concept called product supplied from its surveys that span the US petroleum industry. Although it uses petroleum product supplied interchangeably with petroleum consumption, the two are not identical.

Li Xing Gan Financial Markets Strategist at Exness says oil prices have paused their decline due to concerns over Hurricane Francine.

The body’s monthly report indicates a 2025 growth at 1.7 million bpd, slightly below this year’s figure.

Rystad Energy oil macro update from 11 September.