Saudi Aramco to Ship Full Oil Contract Volumes to Asia in December
The sources said Saudi Arabia’s latest official selling prices (OSPs) to Asian buyers have sent a signal that it will not trim the allocation for the month.
IEA’s Fatih Birol Says $100 Oil ‘Real Risk’ for Economy
IEA Executive Director Fatih Birol said in the past oil producing nations had taken decisions that calmed markets. “This decision may put further upward pressure on inflation and weaken the global economy,” Birol told Reuters.
EIA Slashes 2023 US Crude Oil Production Increase by 21%
Oil producers in the U.S. have warned in recent weeks of weaker-than-expected output, citing aging wells, shortage of labor and materials, rising costs and a sharp focus on shareholder returns.
UK to Announce US Gas Deal after Climate Change Summit: Telegraph
Britain’s National Grid has said that Britain’s ability to secure gas supply would depend upon its prices being high enough to attract exports from Europe and LNG from countries such as Qatar and the U.S.
Trinidad Asks US to Allow Venezuelan Gas Imports for LNG Plant
If approved, the gas from a project operated by Venezuelan state-run oil company PDVSA could restart an idled liquefaction train with a 500 MMcf/d capacity at Trinidad's flagship Atlantic LNG project.
US Crude Oil Exports to Asia Poised to Hit Record High
Higher U.S. shale production has led to a weekly record of 5.1 MMbbl/d of crude exports to Asia.
US Imposes Sanctions on Oil Smuggling Network Backing Iran’s Quds Force, Hezbollah
The latest U.S. move against Iranian oil smuggling comes as efforts to revive Iran’s 2015 nuclear deal have stalled and ties between the Islamic Republic and the West are increasingly strained as Iranians keep up anti-government protests.
US Sells Last Batch of Emergency Reserve Oil from Historic SPR Release
The U.S. president announced a plan last month to begin refilling the stockpile when U.S. crude is around $70/bbl, a level he said would allow drillers to profit while being a good deal for taxpayers. The U.S. benchmark was around $89 on Nov. 3.
US Sets Timeline for Russian Oil Cargoes Subject to Price Cap
The U.S. government, the G7 and the EU plan to impose the oil price cap which begins on Dec. 5 as part of sanctions against Russia for its invasion of Ukraine.
Biden, ‘Outraged’ by Oil Company Profits, to Hit Issue Again
“I’m going to keep harping on it. They talk about me picking on them. They ain’t seen nothing yet,” Biden said of oil companies making record profits during a Democratic fundraiser in Philadelphia on Oct. 28. “I mean it. It outrages me.”