Goldman Sachs says that Brent is likely to be hit by a softening of demand in China.
Goldman Sachs said on Tuesday that it expects Brent crude to drop to $68 a barrel by the end of 2025, if China's oil demand stays flat until next year. Brent futures traded around $77 a bar by 11:46 a.m.
ConocoPhillips Beefs Up Stake in Australia Pacific LNG
ConocoPhillips has completed the acquisition of an additional 10% stake in Australia Pacific LNG (APLNG) from Origin Energy for $1.645 billion. After customary closing adjustments…
WTI-Brent Spread Narrows as Oil Market Tightens
The price gap between the world's two most actively traded oil contracts narrowed to its lowest in more than seven months, demonstrating that U.S. oil output is still in the…
Oil Rises After OPEC+ Agrees Record Output Cut
Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won't be enough to head off oversupply…
Shell Wins Auction for Guyana's First Liza Cargoes
Royal Dutch Shell won the rights to market Guyana's first cargoes of crude oil, the government said on Tuesday, just days after oil production began and launched the impoverished…
Occidental Agrees to Sell Anadarko Assets to Total
Texas-headquartered Occidental Petroleum has reached an agreement to sell Anadarko Petroleum's oil and gas assets in Africa to French oil major Total for $8.8 billion.The binding…
Total Profits Take a Hit
French energy major Total said its net profit for the first three months of the year fell 4 percent to $2.8 billion compared with a year ago due to volatile oil prices and debt costs…
Oil Hits 2019 High
Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown…
Brent Hits 2019 High on U.S.-China trade Hopes
U.S. crude stocks rise to 454.5 mln barrels as crude exports from U.S. hit record 3.6 mln bpd.Oil prices rose on Friday, supported by OPEC's ongoing supply cuts and hopes that…
Brent Crude Rises but Set for First Yearly Drop Since 2015
Oil prices rose more than 2 percent on the final day of the year, mirroring gains in stock markets, but were on track for their first annual decline in three years as concerns…
Oil Climbs on Saudi Ambitions, U.S. Stock Draw
Saudi Arabia seen seeking oil price of $80-$100 a barrel as U.S. commercial crude stocks decline towards five-year average. Oil prices kept rising to their highest since late 2014 as U.S.
Shell Poised to Dethrone Exxon as Q4 Profits Double
Profits rise 120 percent to $16 bln in 2017; Q4 profits more than double, beating forecasts. Royal Dutch Shell could usurp its largest rival Exxon Mobil as the energy sector's…
Oil Teases $70 but U.S. Output Looms
Oil propped up by OPEC/Russia-led production cuts, but rising North American output threatens to undermine cuts. Oil hovered below a three-year high near $70 a barrel on Monday…
Some Investors Sense Opportunities in Big Oil
Link between oil prices and energy stocks disrupted; uncertainty remains over crude revival, electric car effect. Investors are gaining confidence - up to a point - that 2018 will be the year of oil stocks.
OPEC's Focus on Stocks comes with Risk: Kemp
The Organization of the Petroleum Exporting Countries (OPEC) is sticking doggedly to its plan to cut commercial oil inventories down to the five-year average to rebalance the oil market.
Oil Prices Edge Higher on Forties Outage, Falling Stocks
Oil prices rose on Friday, supported by the continuing outage of the Forties pipeline in the North Sea and falling inventories due to OPEC-led production cuts, but climbing U.S. output kept a lid on gains.
Oil Edges Higher on Forties Pipeline Casualties
Forties pipeline declares force majeure as OPEC cuts also support oil markets. But rising U.S. output continues to weigh on market. Oil prices edged up on Friday, lifted by…
Forties Pipeline Outage Benefits U.S. Exporters
The shutdown of Britain's largest crude oil pipeline is an early Christmas gift to U.S. exporters shipping to Asia, and a complication for Middle Eastern and African producers…
Britain's Biggest Oil pipeline Shut "for weeks"
Britain's largest oil pipeline could shut down for weeks for unscheduled repair work, sending the price of crude to new two-year highs and triggering a steep rally in natural gas prices…
Oil Falls After U.S. Drilling Picks Up
Oil prices still near highest since mid-2015 on OPEC deal. Oil fell on Monday after U.S. shale drillers last week added more rigs but prices still held close to their highest since mid-2015…
