Iran Cut Back Oil Production by 400,000 bpd, US Energy Secretary Says
U.S. Energy Secretary Chris Wright said on Thursday that Iran appears to have cut back oil production by 400,000 barrels per day and is likely to reduce it more as…
Shell’s Profit Beats Expectations at $6.9 billion, Raises Dividend by 5%
Summary Shell cuts quarterly buybacks to $3 billion from $3.5 billion Middle East war cuts output by 4% Shares fall in early trade along with oil prices, peers LONDON, May…
Oil Falls Below $100 a barrel on Middle East Peace Deal Hopes
Summary Oil prices drop 2%, extending previous session’s heavy losses Al Arabiya reports possible easing of U.S. blockade Analysts warn prices could rebound if conflict escalates again (Reuters) – Oil…
Cheniere Swings to Quarterly Loss as Iran War Hits LNG Derivative Contracts
(Reuters) – Cheniere Energy swung to a loss in the first quarter from year-ago profit on Thursday, hurt by billions of dollars in losses tied to LNG-linked derivative contracts as geopolitical…
Trump Met With Chevron and ExxonMobil to Discuss Venezuela
Wednesday, May 6 (Reuters) – U.S. President Donald Trump told reporters on Wednesday that he met with top officials at Chevron (CVX.N) and ExxonMobil (XOM.N) a day earlier to discuss…
Microsoft May Abandon its Clean Energy Powered Data Centre Targets
The hyperscaler has been adding a gigawatt of data centre capacity, enough to power 750,000 homes, every three months By Alastair Marsh and Brody Ford Microsoft Corp. may shelve one…
Oil Supply Shock to Worsen as Inventories Fall Further Even if Conflict Ends
(Reuters) – Oil supplies are set to tighten further in coming weeks even if the U.S. and Iran agree on a peace deal to end their war because it will…
Occidental Scraps New Oil Hedges as Iran War Fuels Price Volatility
(Reuters) – U.S. shale producer Occidental Petroleum will not add more oil hedges this year after volatility in crude prices following the Iran war led to lower realized prices. Speaking…
US Says Airline Jet Fuel Costs Jumped $1.8 Billion or 56% in March
(Reuters) – Major U.S. passenger airlines spent just over $5 billion on jet fuel in March, up $1.8 billion or 56% from what they spent in February, the U.S. Transportation…
COMMENTARY: Trump Broke OPEC. He May Regret It: Bousso
(Reuters) – U.S. President Donald Trump’s military forays in Venezuela and Iran have weakened OPEC more than anyone thought possible just months ago. The White House may view this as…
