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Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base/File Photo
BusinessFinanceNewsOil

Oil prices extend rally on potential U.S. crude purchase for reserve

Investors are waiting to see how changing oil prices could hit demand

By Arathy Somasekhar10 Jun 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
BusinessFinanceFuelNewsOilPoliticsTrade

Saudi Arabia set to raise $11.2bn in Aramco lower priced share offer

Saudi Arabia is poised to raise more than $11.2bn from its secondary offering of oil giant Aramco's lower priced shares

By Maha El Dahan, Hadeel Al Sayegh and Yousef Saba7 Jun 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
BusinessFuelNewsOil

Saudi Arabia kicks off Aramco share sale with demand said to be high

In a landmark deal, Saudi Arabia has begun a secondary share sale in oil giant Aramco.

By Ousef Saba, Hadeel Al Sayegh and Maha El Dahan2 Jun 2024Reuters
FILE PHOTO: A view of the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside their headquarters in Vienna, Austria, November 30, 2023. REUTERS/Leonhard Foeger/File Photo
News

OPEC+ agrees extension of production cuts, sources say

OPEC+ poised to argue for deeper oil output cuts in 2024 and 2025.

By Ahmad Ghaddar, Alex Lawler and Maha El Dahan2 Jun 2024Reuters
FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo
BusinessFinanceFuelNewsOil

Oil stabilises ahead of US inflation data and OPEC+ meeting

Oil prices held steady on Friday, as investors await U.S. inflation data for clues on the demand outlook.

By Nicole Jao30 May 2024Reuters
U.S. Senate Majority Leader Chuck Schumer (D-NY) takes questions during a press conference about the failure to pass a border security bill after most Republicans voted against it, on Capitol Hill in Washington, U.S., May 23, 2024. REUTERS/Amanda Andrade-Rhoades
BusinessCourtsEconomyNatural GasNewsOilPolitics

Democratic senators ask DOJ to investigate alleged U.S. oil exec collusion with OPEC

Earlier in May, the Federal Trade Commission gave the go-ahead to Exxon Mobil's $60 billion purchase of Pioneer Natural Resources, but barred former...

By Reuters30 May 2024Reuters
FILE - President Joe Biden speaks on April 12, 2024, in Washington. A temporary fix allowing President Biden to appear on this fall's ballot cleared the Ohio House during a rare special session Thursday, May 30, along with a ban on foreign nationals contributing to state ballot campaigns that representatives said was demanded in exchange by the Ohio Senate. (AP Photo/Alex Brandon, File)
FuelIndustryNewsOilPolitics

Justice Department called to prosecute alleged oil price-fixing

The Democrats said a Federal Trade Commission investigation into a high-profile merger uncovered evidence of price-fixing by oil executives.

By Matthew Daly30 May 2024The Associated Press
The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France, February 1, 2024. REUTERS/Benoit Tessier
BusinessFinanceFuelNewsOil

Saudi Arabia sets up new Aramco share sale that could raise $13.1B

Saudi Arabia's government on Thursday filed papers to sell a new stake in state oil giant Aramco that could raise as much as...

By Hadeel Al Sayegh, Maha El Dahan and Yousef Saba30 May 2024Reuters
The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif/File Photo
BusinessFuelNewsOil

Oil dips on concerns about demand, U.S stockpiles data awaited

Oil prices eased after resilient U.S. economic activity pointed to borrowing costs staying higher for longer in a potential blow to demand.

By Shariq Khan29 May 2024Reuters
BusinessFuelNewsOil

Oil steadies after weekly decline on U.S. interest rate prospects

Muted trading on oil follows downbeat week coinciding with public holidays in Britain and the US, with next month set to bring OPEC+...

By Natalie Grover27 May 2024Reuters

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FILE PHOTO: Oil pumpjacks and tanks are pictured in a farmer's field near Kindersley, Saskatchewan, Canada September 5, 2024. REUTERS/Todd Korol/File Photo
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