Sunday, December 1, 2024
Oil prices slip on potential Libyan output return, demand concerns- oil and gas 360

Libya lifts force majeure on El Feel oil field on way to 1 mil b/d output

S&P Dubai — Libya’s state-owned National Oil Corp. said Oct. 26 it lifted force majeure on the 70,000 b/d El Feel, or Elephant, oil field as the OPEC producer seeks to almost double output to over 1 million b/d within four weeks following the signing of a UN-mediated permanent truce deal between two warring factions in the country. This is the

U.S. offshore oil workers flee as storm Zeta heads toward Gulf of Mexico rigs- oil and gas 360

U.S. offshore oil workers flee as storm Zeta heads toward Gulf of Mexico rigs

Reuters HOUSTON – Oil producers on Monday were evacuating offshore production platforms in the U.S. Gulf of Mexico as the 27th named storm of the season strengthened overnight and looked likely to threaten the United States as a hurricane. BP, BHP Group Ltd , Chevron Corp, Equinor and Royal Dutch Shell began withdrawing staff from their U.S. Gulf of Mexico

Column: Funds buy crude on expected delay to OPEC+ output increase - Kemp- oil and gas 360

Column: Funds buy crude on expected delay to OPEC+ output increase – Kemp

Reuters LONDON – Hedge funds purchased crude futures and options at the fastest rate for six months as portfolio managers became increasingly confident OPEC+ will postpone scheduled output increases until demand is stronger. The equivalent of 55 million barrels was purchased by hedge funds and other money managers in the six most important petroleum futures and options contracts in the