By: Midland Reporter-Telegram – China is expected to set the tone for oil markets in 2023. Peering into their crystal balls, analysts...
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By: Reuters – U.S. oil major Exxon Mobil Corp (XOM.N) is suing the European Union in a bid to force it to scrap...
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By: Reuters – The total volume of natural gas Turkey has discovered in the Black Sea now amounts to 710 billion cubic...
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(Bloomberg) — Russia may reduce its oil output by 500,000-700,000 barrels a day in early 2023 in response to the Group of...
The energy sector is moving higher this morning, supported by strength in the crude complex and in the major equity futures. Wall Street futures inched higher as investors assessed Federal Reserve Chair Jerome Powell's hawkish commentary and looked forward to key economic data next week for more cues on the monetary policy path.
WTI and Brent crude oil futures are trading higher for the second-consecutive session due to comments made by the US Fed Chair on more interest rate hikes and on Israel's ongoing attacks on Gaza, fueling supply fears. However, weakening China's Price Index, which fell 2.7 percent yearly and 0.2 percent monthly in October, and the rise in US crude oil stockpiles by an estimated 11.9 million barrels limited price upswings. Meanwhile, OPEC+ is set to meet on Nov. 26 to establish production policy, and the focus will be on whether Saudi Arabia extends a 1 million barrel-per-day voluntary cut set to expire at the end of this year.
Natural gas futures slid for the fifth-straight day on record output and forecasts for mild weather through late November that should limit heating demand and allow utilities to keep injecting gas into storage for a couple more weeks.
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Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
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˃ Financing from the six largest Wall Street banks for oil, gas, and coal...
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By Clyde Russell (Reuters) – There are early signs that some Asian countries are...
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