Monday, December 2, 2024

Little Known CEFC China Energy Eyes Oil’s Big League after Rosneft Deal

From Reuters BEIJING/MOSCOW (Reuters) – As part of its recent $9.1 billion investment in Russian oil giant Rosneft (ROSN.MM), little-known CEFC China Energy will have access to up to 260,000 barrels per day (bpd) of Russian oil – giving it the sort of market clout to potentially challenge dominant Western oil traders like Vitol. For China, the world’s top crude

OPEC Compliance with Oil Output Cuts at 86%: IEA

From Reuters SEOUL (Reuters) – The Organization of Petroleum Exporting Countries (OPEC) has a compliance rate with their output cut pledges of about 86 percent, Fatih Birol, the executive director of the International Energy Agency (IEA), said on Tuesday. “Their compliance is about 86 percent, higher than in the past… whether or not they will continue with this plan in