Tuesday, January 7, 2025
Analysis: Venezuelan oil, masked as Malaysian, rushes into China before fuel tax- oil and gas 360

Analysis: Venezuelan oil, masked as Malaysian, rushes into China before fuel tax

Reuters SINGAPORE/KUALA LUMPUR/MEXICO CITY – Traders are racing to deliver record volumes of Venezuelan crude oil masked as Malaysian bitumen blend to China, ahead of new fuel taxes that look set to upend the lucrative flow of sanctioned oil to the world’s top crude importer. China has over the past 12 months bought an estimated $3.5 billion worth of Venezuelan

Column: U.S. shale restraint pushes oil prices to multi-year high: Kemp- oil and gas 360

Column: U.S. shale restraint pushes oil prices to multi-year high: Kemp

Reuters LONDON – Crude oil prices have climbed to their highest level for more than two years as U.S. shale producers have added only a limited number of extra rigs and production, opting to push for higher prices and profits instead. In the current phase of the cycle, prices are rising mostly because of the declining responsiveness of the shale

Oil hits two-year high above $72 on OPEC+ discipline, demand hopes- oil and gas 360

Oil hits two-year high above $72 on OPEC+ discipline, demand hopes

Reuters NEW YORK – Oil prices surged on Wednesday, hitting their highest in more than a year from a decision by OPEC and allies to stick to the plan to gradually restore supply, along with the slow pace of nuclear talks between Iran and the United States. Brent rose $1.1, or 1.6%, to settle at $71.35 a barrel. It reached