Suncor sees 13% rise in fourth-quarter upstream output
Suncor Energy Inc said on Monday it expects total upstream production to rise by about 13 percent in the fourth quarter of 2018, helped by higher output from its majority-owned Syncrude oil project in northern Alberta.The company expects total upstream production of 831,000 barrels of oil equivalent per day (boe/d
Canada Crude Differential Seen Staying High as Refiners Take Downtime
The discount on Canada's heavy crude, which reached a nearly five-year high this week, looks to remain elevated with pipelines strained and the refiners who buy it going offline for maintenance, industry officials say.Western Canada Select (WCS) oil traded…
US Oil Boom Delivers Costly Surprise for Traders
The world's biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent in just a month, as surging U.S production upends the market.Trading desks of oil major BP and merchants Vitol…
Oil Slips as U.S. Crude Stockpiles Show Surprise Build
U.S. crude stocks up 1.3 mln bbls vs 3.5 mln draw forecast-EIA. Oil fell on Thursday after U.S. government data showed an unexpected build in crude oil stockpiles. U.S. crude futures fell $1.20 to settle at $72.94 a barrel, retreating from Tuesday's 3-1/2-year high of over $75.
U.S. Crude Stockpiles Rise Unexpectedly - EIA
U.S. crude oil stockpiles unexpectedly rose last week ,as imports grew and refineries cut output while gasoline inventories decreased nearly double forecasts, the Energy Information Administration said on Thursday. Crude inventories rose 1.2 million barrels in the week to June 29…
Oil Nears 3-1/2-year High on Middle East Sabre Rattling
OPEC supply cuts since 2017 have tightened market; oil has also risen on U.S. sanctions threat against Iran. Oil traded near its highest in 3-1/2 years on Thursday, boosted by potential disruptions to flows from Iran and the Middle East despite a fresh demand from U.S. President Donald Trump that OPEC cut prices.
U.S. Crude Hits $75 as Oil Supply Risks Mount
U.S. crude oil prices rose above $75 a barrel for the first time since 2014 on Tuesday after Iran appeared to threaten to disrupt oil shipments from the Middle East Gulf if Washington pressed ahead with sanctions."The Americans have claimed they want to completely stop Iran's oil exports…
Oil Climbs on Libya Force Majeure, Canada Outage
Libyan disruption cuts 850,000 bpd of oil from market; Canada outage drains U.S. crude, product inventories. Oil prices rose on Tuesday after Libya declared force majeure on some of its crude exports, while the loss of Canadian supplies helped lift U.S. crude to 3-1/2-year highs. U.S.
Oil Falls as OPEC Output Rises
Brent crude fell Monday as supplies from Saudi Arabia and Russia rose while economic growth stumbled in Asia amid escalating trade disputes with the United States. At the same time, U.S. crude strengthened mid-session, buoyed by concerns about supply levels at the Cushing, Oklahoma delivery hub.
Hedge Funds Continue Selling Oil, Especially Fuels: Kemp
Hedge funds became much more bullish about the outlook for U.S. crude prices last week, following an outage on Canada's Syncrude system, which supplies the U.S. Midwest, and a drawdown in crude stocks around Cushing. But in the rest of the petroleum complex…
Oil Jumps as Market Anticipates U.S. Sanctions on Iran
Oil prices rose strongly on Friday as U.S. sanctions against Iran threatened to remove a substantial volume of crude oil from world markets at a time of rising global demand.Benchmark Brent crude jumped $1.49 to a high of $79.34 a barrel before easing back to around $79.10 by 1350 GMT.U.S.
Oil Responds to U.S. Sanctions on Iran
U.S. sanctions on Iran to remove crude oil from market; oil markets tight on supply losses in Libya, Venezuela. Oil prices climbed on Friday as U.S. sanctions against Iran threatened to remove a substantial volume of crude oil from world markets at a time of rising global demand.
U.S. Oil Prices Steady Ahead of Sanctions on Iran
Oil prices steadied on Thursday, with U.S. crude near a 3-1/2-year high, but supply remained tight with investors concerned by the prospect of a big fall in crude exports from Iran due to U.S. sanctions.U.S. light crude was down 5 cents at $72.71 per barrel by 1331 GMT…
U.S. Oil Steadies Ahead of Iran Sanctions
U.S. sanctions likely to cut Iranian crude exports sharply; supply disruptions, record demand leave little spare capacity. Oil prices steadied on Thursday, with U.S. crude near a 3-1/2-year high, but supply remained tight with investors concerned by the prospect of a big fall in crude exports from Iran due to U.S.
Oil Rises on Supply Losses, U.S. Push to Isolate Iran
Oil prices rose on Wednesday on supply disruption in Canada, falling U.S. crude stocks, uncertainty over Libyan exports and U.S. demands that importers stop buying Iranian crude from November.Brent crude was up 85 cents a barrel at $77.16 by 1335 GMT. U.S.
Oil Rises on Supply Losses, U.S. Push to Isolate Iran
U.S. tells countries to cut Iran crude imports to zero as Canada supply disruption and Libya uncertainty push up crude. Oil prices rose on Wednesday on supply disruption in Canada, falling U.S. crude stocks, uncertainty over Libyan exports and U.S. demands that importers stop buying Iranian crude from November.
Oil Drops on OPEC Output Deal, Markets to Stay Tight
OPEC to raise output to make up for unforeseen disruptions; Canadian outage helps support U.S. crude. Brent crude oil fell by more than 1 percent on Monday as investors prepared for an extra 1 million barrels per day (bpd) in output to hit the markets after OPEC and its partners agreed to raise production.
Imperial Oil Posts Lower-than-expected Adj. Profit
Canada's Imperial Oil Ltd on Friday reported a lower-than-expected adjusted quarterly profit, hurt by a 22 percent rise in expenses. The Calgary-based company reported a net loss of C$137 million ($111.23 million), or 16 Canadian cents per share, for the…
Fire Extinguished at Syncrude Oil Sands Plant
A small fire broke out in a sulphur emissions reduction unit at the Syncrude oil sands plant in northern Alberta on Monday morning and was extinguished within two hours with no injuries to workers, a Syncrude spokesman said. Spokesman Leithan Slade said…
Suncor to Grow Oil Sands as Oil Majors Flee
Even as the world's largest energy companies exit Canada's high-cost oil sands the country's top producer Suncor Energy is lining up its next phase of growth in the world's third largest crude reserves. The preliminary plans for new projects in remote northern…
