Dallas Fed energy survey shows little change in oil and gas production during Q4
According to a Federal Reserve Bank of Dallas survey, oil and?gas production in Texas, Louisiana, and New Mexico?edged down in the fourth quarter as executives expressed concerns about low oil prices, which are rendering some wells uneconomical, and the ongoing geopolitical uncertainties. The oil and gas industry's production was essentially unchanged over the quarter, while costs rose at a lower rate than in the previous quarter.
Palm extends its losses due to concerns about rising stocks and weaker competitors oils
Malaysian palm oils futures fell on Tuesday, for the?third session in a row. They were pressured by lower rival oils as well as?concerns about rising stocks due to a drop in exports. At midday, the benchmark palm 'oil 'contract for March delivery at Bursa Malaysia derivatives Exchange fell 27 ringgit or 0.67% to $3,986 Ringgit ($976.96). Anilkumar bagani, the commodity research director at Sunvin Group in Mumbai…
Palm drops before Malaysian data is released
The price of Malaysian palm oils futures dropped on Wednesday, ahead of the monthly supply and demand report from the Malaysian Palm Oil Board. Soyoil also lost ground during the morning session. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery fell 14 ringgit or 0.34% to 4,092 Ringgit ($993.45) per metric ton. The market opened lower due to concerns about the rising stock levels and weakness in the soybean oil markets.
Bousso: New oil quotas system to spur spending with ROI-OPEC+
The changes OPEC+ makes to its oil production quotas will likely trigger a wave upstream investment among members, especially in low-cost Gulf producers. This will reduce concerns about long-term shortages of supply. The Organization of the Petroleum Exporting Countries (OPEC+) and other major oil producing nations including Russia and Kazakhstan approved on Sunday a mechanism for assessing members' maximum output capacity. This will be used from 2027 to establish baselines.
Bousso: New oil quotas system to spur spending with ROI-OPEC+
The changes OPEC+ makes to its oil production quotas will likely trigger a wave upstream investment among its members, especially in low-cost Gulf producers. This will reduce concerns about long-term shortages of supply. OPEC+ (Organization of the Petroleum Exporting Countries) and other major oil producing nations including Russia and Kazakhstan approved a new method to determine the maximum production capacity of members. This will be used from 2027 to establish baselines for output.
Diamondback Energy sells unit's assets at $670 million to top profit estimates
Diamondback Energy beat analyst estimates for the third quarter profit on Monday and announced that it would sell Viper Energy's non Permian assets to an affiliate of GRP Energy Capital & Warwick Capital Partners for $670M. Shareholders are more interested in steady growth and disciplined spending than rapid growth on an uncertain oil markets. The transaction is expected close in the first half of 2026. Diamondback benefited during the third quarter from an increase of production.
US shale producers SM Energy and Civitas will merge in a $12.8 billion deal
Nov. 3 - SM Energy announced on Monday that it will merge with Civitas Resources in a deal worth about $12.8 billion including debt. This will create one of the biggest independent U.S. producers who will have a dominant position within the Permian basin. The sale is a sign of a rebound in the dealmaking activity in the shale sector as companies look to scale up in order to combat volatility in energy and equity markets.
Sources say that OPEC+ is leaning toward another small increase in oil production.
Four sources familiar with the discussions said that OPEC+ is likely to increase output modestly in December as it continues with its monthly increases aimed at regaining market share. After several years of reducing production to support the oil markets, the group that includes Russia and Saudi Arabia began to ease these curbs in April. Eight OPEC+ member countries have increased their monthly production targets by a combined total of 2.7 million barrels a day - which is about 2.5% global supply.
Iraqi Oil Flows to Turkey After Brief Halt
Crude oil exports from Iraq's Kurdistan region to Turkey's Ceyhan port resumed on Friday, after a temporary halt due to "technical issues", the region's ministry of natural resources said in a statement.The exports had earlier been suspended because storage tanks reached capacity, two energy sources with direct knowledge of the matter told Reuters.One of the sources said flows stopped at around 1 a.m. local time (2200 GMT) on Friday after the storage tanks became overloaded…
VEGOILS-Palm settles up on strong soyoil, positive export demand
The price of Malaysian palm oils futures rose for the second session in a row on Thursday as the strong soyoil prices and the robust demand from export markets boosted the bullish sentiment. The benchmark palm-oil contract for December delivery at Bursa Malaysia's Derivatives exchange gained 62 Ringgit or 1.41% to 4,450 Ringgit ($1,058.26). David Ng, a proprietary trading at Kuala Lumpur's Iceberg X Sdn. Bhd., said that crude palm oil was higher due to overnight strength on the soybean oil markets.
Trump's options for easing Russia sanctions are limited in comparison to Europe
Donald Trump, the U.S. president, could lift some sanctions against Russia quickly as a way to reward Moscow for successful peace talks with Ukraine. However only Europe can make the larger steps necessary to ease Russia's cash crisis. Trump has threatened to impose additional sanctions and tariffs against Russia and its oil buyers if there are no signs of progress in the three-and-a-half-year long war in Ukraine. If the talks are successful, Trump could start to ease some of his punitive measures.
Russia-Ukraine Peace Talks Mask Unexpected Oil Price Reactions
Brent oil prices have shifted very little over the last two weeks, staying in the range of $65 to $66 per barrel. The Russia-Ukraine peace talks loom large, with bearish sentiment winning out in anticipation of Russian barrels making a return to global markets.“The probability of the US placing stronger sanctions on Russia is waning, with the market expecting Russian oil trade to make a comeback as a result of the peace talks — yet this sentiment masks emerging signals toward upside…
Russian FSB Allow Foreign Tankers to Access Black Sea Ports; Kazakh Oil Exports Resume
Russia's FSB security service has started handing out clearance for foreign tankers to access the Black Sea ports, allowing for Kazakhstan's oil exports to resume after they were halted for nearly a day, four industry sources said on Thursday.The suspension led to the disruption of around 2% of global supply and drove international oil prices to almost $70 a barrel on Thursday before they pared gains. Russian…
Investors continue to monitor the impact of new sanctions against Russia on oil prices.
The oil price was little changed Monday, as traders assessed the impact of European sanctions on Russian supply. They also worried about tariffs that could weaken fuel demand because Middle East producers were increasing output. Brent crude futures dropped 1 cent to $69.27 per barrel at 0153 GMT, after closing 0.35% lower Friday. U.S. West Texas Intermediate Crude was up 10 cents to $67.44 per barrel after a 0.30% drop in the previous session.
SLB beats quarterly profit estimates on steady oilfield services demand
SLB, a leading oilfield services company, narrowly beat Wall Street's expectations for the second quarter profit on Friday as resilient demand from parts of its global business offset the drilling slowdowns in North America and Mexico. SLB was the first among the Big Three U.S. oilfield service providers to announce quarterly results. It had already reported a weakening drilling activity in Saudi Arabia, Latin America and the Middle East, with demobilized rigs and a slowdown of short-cycle projects.
Palm oil prices rise as rival oil prices do.
Malaysian palm futures closed higher Monday as they tracked stronger edible oils and higher crude oil prices. They were also helped by the weaker ringgit. The benchmark palm-oil contract for September delivery at Bursa Malaysia's Derivatives exchange gained 58 Ringgit or 1.39% to $4,232 Ringgit ($995.76) per metric ton. "Prices are being supported by the firm crude oil that continues to bolster global edible oil markets," Darren Lim said, commodities strategist for Singapore-based brokerage Phillip Nova.
Palm oil prices rise for the fourth consecutive session as stronger competitors gain ground
Investors analyzed data from the Malaysia Palm Oil Board to determine whether or not they should buy futures of palm oil in Malaysia. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for September delivery was up 27 Ringgit (0.65%) to 4,184 Ringgit ($984.47) per metric ton. "Malaysian Palm Oil Futures extended modest gains. Supported by technical momentum, a lower ringgit and strength in the related vegetable oil markets.
Oil Prices Rise Alongside High Demand, Red Sea Shipping Attacks, and Lower US Production
Oil prices rose on Wednesday as investors weighed strong U.S. gasoline demand data, attacks on shipping in the Red Sea, and a forecast for lower U.S. oil production.Brent crude futures were up 38 cents, or 0.54%, to $70.53 a barrel by 1:25 p.m. EDT. U.S. West Texas Intermediate crude was up 43 cents, or 0.63%, to $68.76 a barrel.U.S. crude stocks rose while gasoline and distillate inventories fell last week…
As Wars Rage, Middle East's Waning Influence on World Oil Prices Exposed
The contained move in oil prices during the Israel-Iran war highlights the increasing efficiency of energy markets and fundamental changes to global crude supply, suggesting that Middle East politics will no longer be the dominant force in oil markets they once were.The jump in oil prices following Israel's surprise attack on Iran was meaningful but relatively modest considering the high stakes involved in the conflict between the Middle East rivals.Benchmark Brent crude prices…
Coterra Energy maintains Permian rig counts as fears about the oil market ease
Coterra Energy, an oil and gas company in the United States, will keep its Permian basin rig count at nine, said CEO Tom Jorden on Tuesday. This reverses earlier plans to reduce activity, as the firm becomes more confident about the outlook of oil prices. Coterra announced in May that it would reduce the number of Permian rigs to seven in the second half 2025, down from the original plan of 10. This will result in a $150 million reduction in capital expenditure in the basin.