Oil Prices Sink in Run-Up to OPEC Meet
Oil prices slumped on Friday, with Brent crude falling 1.57% in afternoon trading as the oil demand outlook out of China continues to weigh on market sentiment.
Goldman Sachs: Next President Will Have Limited Tools to Raise U.S. Oil Supply
According to Goldman Sachs, the next U.S. president will have limited options to quickly increase domestic oil supply.
China’s Sinochem Looks to Sell Its 40% Stake in Brazilian Oilfield
Chinese energy and chemicals giant Sinochem is looking to sell its 40% stake in an offshore oilfield in Brazil.
Eni Beats Earnings Forecasts as Oil and Gas Production Grows
Eni reported better-than-expected second-quarter earnings, driven by strong oil and gas production, and announced plans to accelerate share buybacks and increase production guidance.
Exxon Inks Another Carbon Capture Deal With CF Industries
Exxon continues to expand its carbon capture and storage portfolio with a new deal with CF Industries.
Baker Hughes Tops Expectations With Strong Q2 Results
Baker Hughes reported a 13% annual increase in second-quarter revenues and a 41% annual increase in net profits.
Oil Prices Are Set for a Third Consecutive Weekly Loss
Oil prices are under pressure from weak Chinese demand, despite recent inventory draws and expectations of a potential interest rate cut.
Valero Energy Sees Q2 Net Income Cut in Half
Valero Energy Corporation announced its financial results for the second quarter of 2024, revealing a notable decrease in net income.
Rystad: OPEC's Oil Reserves are Much Lower Than Officially Reported
Rystad Energy’s latest research shows global recoverable oil reserves held largely steady at around 1,500 billion barrels, with large downward revisions in Saudi Arabia
Europe’s Power Prices Could Rise as France Curbs Electricity Exports
France, the biggest net electricity exporter in Europe, plans to limit power exports to neighboring countries, which could lead to higher prices in other European power markets
Russia Says There Isn’t Discord with OPEC+ over Oil Overproduction
There is no discord between Russia and OPEC+ over Moscow’s recent poor compliance with the group’s production cuts, Russian Deputy Prime Minister Alexander Novak said on Thursday.
U.S. Boosts Natural Gas Power as Wind Output Slumps to 33-Month Low
Record-breaking natural gas demand for power generation, driven by a scorching heatwave and low wind power output, has pushed prices higher.
Repsol Doubles Q2 Earnings on Higher Oil Prices
Repsol reported a significant increase in net income for the second quarter, driven by higher oil prices, despite lower gas realizations and weaker refining margins.
TotalEnergies Misses Earnings Estimates Amid Weak LNG Sales and Refining Margins
TotalEnergies reported lower-than-expected second-quarter earnings due to declining LNG sales and weaker refining margins.
Tanker Capsizes Off Philippines Coast and Spills Fuel
A tanker carrying industrial fuel capsized off the coast of the Philippines, spilling fuel and prompting a major cleanup operation.
EV Loss Drags Down Ford’s Q2 Profit
Ford missed analyst expectations for profits in the second quarter despite rising revenue, with its electric vehicle segment experiencing significant losses.
Iranian Oil Exports Have Risen Sharply, Facilitated By Malaysia
Whether or not the U.S. will allow Iran to continue pumping freely will depend on who sits in the Oval Office come 2025.
NextEra Energy Reports Mixed Q2 Results, Reaffirms FY24 Outlook
Renewable energy utility NextEra Energy Inc. (NYSE:NEE) has reported mixed Q2 2024 results and reaffirmed outlook for FY 2024