South Korea is close to securing crude oil supplies from Kazakhstan, as Seoul steps up efforts to diversify energy sources amid ongoing conflict in the Middle East, the country’s industry minister said.
The International Energy Agency (IEA) released a report on the oil market medium-term outlook, where it expected structural changes in the oil market amidst the outbreak of the Israel-Iran conflict.
Iraq's fuel oil exports are poised to achieve all time highs this year, driven by the country’s ramp up shipments in October. This surge comes as domestic demand eased and production rose, according to Reuters.
Oil prices have risen slightly following the US presidential election, as investors weigh the potential impact of a Trump presidency on oil supply and the effects of an approaching hurricane in the Gulf Coast.
Ma Yongsheng, Sinopec's chairman, stated that the company’s refineries are operating at “fairly high” level to secure steady fuel supply in the country amid global oil supply disruption due to Russian’s invasion t ...
Arabian Gulf countries are working to strengthen their coordination in supplying crude oil to global markets, especially amidst increased regional tensions.
Saudi Aramco plans to expand its trading operations in Europe by increasing oil supply by 300,000 barrels per day (b/d) over the next two years.
OPEC and non-OPEC petroleum producing countries will agree to introduce a mechanism for monitoring crude oil production before the end of 2018, Kuwaiti Oil Minister Bakheet Al-Rashidi stated.
