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August 10, 2023

U.S. to unfreeze Iran’s oil money in exchange for prisoner release- oil and gas 360

U.S. to unfreeze Iran’s oil money in exchange for prisoner release

August 10, 2023

Oil Price The United States has agreed to give Iran access to $6 billion in currently frozen Iranian oil revenue currently held in South Korea, media reported on Thursday—in exchange for the release of five Americans imprisoned in Iran. Iran has released five Iranian/American dual citizens, which now remain under house arrest in a hotel in Tehran. The prisoners will

Global oil markets on track for “sharp” supply deficit, OPEC data shows- oil and gas 360- oil and gas 360

Global oil markets on track for “sharp” supply deficit, OPEC data shows

August 10, 2023

World Oil (Bloomberg) – Global oil markets are on track for a sharp supply deficit of more than 2 MMbpd this quarter as Saudi Arabia slashes production, OPEC data indicate. Output from the Organization of Petroleum Exporting Countries tumbled last month as the kingdom implemented a unilateral cutback to shore up markets, according to a report from the group on Thursday.

Colombia's Ecopetrol hails new oil and gas discovery- oil and gas 360

Colombia’s Ecopetrol hails new oil and gas discovery

August 10, 2023

Nasdaq BOGOTA – Colombia’s majority state-owned oil company Ecopetrol on Thursday reported a new oil and gas discovery in Putumayo province. The Alqamari-2 well was drilled to a depth of 9,287 feet and saw daily flow of 1,800 barrels of oil, Ecopetrol said in a statement.   The oil is a light hydrocarbon. The rate of associated gas that the well

Oil falls as US rate hike fears subside, China demand weighs- oil and gas 360

Oil falls as US rate hike fears subside, China demand weighs

August 10, 2023

Investing Oil prices fell slightly on Thursday, with Brent crude holding close to January highs, as speculation about another U.S. interest rate hike faded following inflation data and OPEC remained positive on the oil demand outlook. Both benchmarks have been on a sustained rally since June, with WTI trading at its highest this year on Thursday and Brent hitting its highest price

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