Oil Climbs 2% as Price Drop Triggers Buying; Oversupply Worries Weigh
Summary • Brent, WTI both up around 2% after hitting four-year lows in previous session• Rebound comes with some dip buying• Price gains unlikely to sustain under oversupply LONDON, May…
US Gulf Oil Output Could Reach 2.4 Million Bpd Even Amid Volatility, Industry Leaders Say
(Reuters) – The U.S. Gulf of Mexico can continue growing oil output even amid geopolitical volatility not seen in decades, oil and gas industry leaders said on Monday. U.S. President…
Supply Issues, Compliance Costs Drive up California Fuel Prices, EIA Says
(Reuters) – Drivers in California pay higher prices at the pump than any other state in the country due to supply issues, costs from environmental compliance and fuel requirements, and…
Commonwealth LNG Signs 20-Year Supply Deal With Major Asian Buyer
(Reuters) – Commonwealth LNG announced on Monday that it has signed a Sale and Purchase Agreement with a major Asian energy company. Under the 20-year agreement, the buyer will purchase…
The Heart of the US Oil Boom is Slowing
By Robert Cyran NEW YORK, May 5 (Reuters Breakingviews) – Oil fields are just as quick to make fortunes as break them. The 1901 Spindletop gusher in Texas jumpstarted the…
Goldman Sachs Lowers Oil Price Forecast After OPEC+ Decision to Boost Output
The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down by $2 from its previous estimate. It has also…
Big Oil in Business as Usual Mode Despite Nearing Storm: Bousso
By Ron Bousso Summary Oil majors warn of worsening global economic conditions Yet most stick to large shareholder return programmes And are borrowing more in order to pay for their…
US-Ukraine Deal is Heavy on Symbolism, Light on Minerals
(Reuters) – U.S President Donald Trump’s minerals deal with Ukraine is a big symbolic win for both sides. Ukraine gets a long-term commitment for U.S. investment in “a free, sovereign,…
Sunoco to Buy Canada-Based Parkland in $9 Billion Deal in Americas Fuel Supplier Consolidation
(Reuters) – Sunoco LP will buy Canada-based Parkland in a deal valued at about $9.1 billion, including debt, the U.S. fuel supplier said on Monday, in a move the companies…
Oil Prices Drop as OPEC+ Accelerates Output Hikes, Surplus Looms
Summary • OPEC+ says to hike output by 411,000 bpd in June• OPEC+ eyes full unwinding of voluntary output cuts by Oct, sources say• Barclays, ING cut 2025 Brent forecasts…
