According to five different trade sources cited by Reuters, Saudi Arabia's crude oil exports to China will rise to their highest level in two years in August.
According to five different trade sources cited by Reuters, Saudi Arabia's crude oil exports to China will rise to their highest level in two years in August.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
The Norwegian Statistical Office (SSB) says they're expecting a record-breaking level of investment in the country's oil and gas sector in 2025. Revised estimates indicate that total capital inflows are likely to hit 269.1 billion Norwegian kroner (about $26.46 billion).
The energy market remains volatile. On Wednesday, oil prices rose as the US tightened restrictions on exports of raw materials from Venezuela. In particular, the ban has affected one of the largest US producers, Chevron.
Saudi Arabia may lower the price of its oil for Asian buyers in July to the lowest level in six months due to an increase in OPEC+ supply. This information comes from industry sources surveyed by Reuters.
Saudi Arabia and Kuwait announced the discovery of a big oil field in the so-called Partitioned Neutral Zone, which is located on the border between the two countries. The new site is just five kilometers north of the Wafra field.
According to authorities of the Canadian province of Alberta, the average price for leasing land for oilfield development has fallen to just above $560 per hectare this year. This is 18% below the 2024 figure.
According to Bloomberg, OPEC+ moved the videoconference meant to determine July oil production levels for eight key member countries by one day. The meeting is now scheduled for May 31.
On Tuesday, crude oil prices are declining moderately as market participants assess the possibility of a decision to further increase oil production at the OPEC+ meeting later this week.
On Monday, oil prices rose on the back of Donald Trump's decision to grant an extension of the deadline for trade negotiations with the European Union. That contributed to easing of concerns over tariffs against the bloc that may damage the world economy and the volumes of fuel consumption.
An increase of the indicator value may contribute to the rise in quotes of WTI, Brent.
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