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FILE PHOTO: Oil tankers the Yamilah III and the Bow Gemini are seen anchored in New York Harbor in New York City, U.S., May 24, 2022. REUTERS/Brendan McDermid/File Photo
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Oil market likely to be in surplus next year, Morgan Stanley says

Crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining to $70 range, Morgan Stanley...

By Reuters22 Jul 2024Reuters
FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo
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U.S. FTC probes Hess, Occidental execs over OPEC communication: report

The U.S. Federal Trade Commission is probing executives from major oil firms over their communications with OPEC officials.

By Reuters19 Jul 2024Reuters
News Release

Occidental Announces Commencement of Exchange Offer and Consent Solicitation for CrownRock Notes

HOUSTON, July 19, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced that it has commenced a private exchange offer to certain eligible...

Issued by OccidentalDistributed by GlobeNewswire Inc.19 Jul 2024
FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS/File Photo
BusinessEconomyFinanceNewsOilPoliticsTrade

Oil prices tick down on worries about Chinese demand

The market is eyeing the slower Chinese economy and whether the US Federal Reserve is set to cut interest rates.

By Arathy Somasekhar15 Jul 2024Reuters
FILE PHOTO: A view of the Phillips 66 Company's Los Angeles Refinery (foreground), which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, and storage tanks for refined petroleum products at the Kinder Morgan Carson Terminal (background), at sunset in Carson, California, U.S., March 11, 2022. REUTERS/Bing Guan/File Photo
BusinessFuelNewsOilTrade

Oil trades in narrow range on OPEC+, sanctions and demand worries

Brent crude oil has been trading in a tight range of $75-$90 a barrel since late 2022 as OPEC+ cuts keep a floor...

By Ahmad Ghaddar and Alex Lawler12 Jul 2024Reuters
News Release

Targa Resources Corp. Announces Quarterly Common Dividend and Timing of Second Quarter 2024 Earnings Webcast

HOUSTON, July 11, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares...

Issued by Targa Resources Corp.Distributed by GlobeNewswire Inc.11 Jul 2024
FILE PHOTO: Oil tankers are pictured near the Iraqi border with Turkey, on the outskirts of Duhok province, Iraq, May 11, 2024. REUTERS/Kawa Omar/File Photo
FuelNewsOilPoliticsTrade

Kurdish oil smuggling to Iran flourishes

Booming business sees 200,000 barrels of cut-price oil leave Iraq after official export pipeline closed last year.

By Timour Azhari11 Jul 2024Reuters
FILE PHOTO: General view of Aramco's oil field in the Empty Quarter, Shaybah, Saudi Arabia, January 12, 2024. REUTERS/Hamad I Mohammed//File Photo
BusinessFuelNewsOilPoliticsTrade

Saudi Arabia may cut oil prices for Asia for second month in August

Top oil exporter Saudi Arabia may cut prices for crude grades it sells to Asia for a second month in August, trade sources...

By Florence Tan28 Jun 2024Reuters
FILE PHOTO: A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, November 30, 2023. REUTERS/Leonhard Foeger/File Photo
IndustryNewsOilPoliticsTrade

US Senate committee probes oil producers on price collusion with OPEC

The oil producers that the committee is probing include Exxon Mobil, Chevron and ConocoPhillips.

By Timothy Gardner27 Jun 2024Reuters
Motorist pass posted gas prices, Monday, June 10, 2024, in San Antonio. Gas prices are once again on the decline across the U.S., bringing some relief to drivers now paying a little less to fill up their tanks. (AP Photo/Eric Gay)
AnalysisAutomotiveEconomyElectric Vehicles (EVs)FuelIn-DepthNewsOilTransport

US gas prices are falling. Experts point to mild demand at the pump ahead of summer travel

Explainer: Why the recent fall in prices at the pump? Industry analysts point to a blend of lackluster demand and strong supply —...

By Wyatte Grantham-Philips11 Jun 2024The Associated Press

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