By Susan Heavey and Rania El Gamal WASHINGTON/JEDDAH, Saudi Arabia, April 20 (Reuters) - U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters. "Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices … [Read more...]
Firms Complain of Contaminated Crude from U.S. Strategic Reserve
By Catherine Ngai NEW YORK, March 29 (Reuters) - Three firms that bought crude oil last year from U.S. emergency stockpiles raised concerns about dangerous levels of a poisonous chemical in the cargoes, according to internal Energy Department emails and shipping documents reviewed by Reuters. Problems with crude quality would make the U.S. Strategic Petroleum … [Read more...]
What’s at Stake for Oil as Trump Appoints Another Iran Hawk?
By Grant Smith and Anthony DiPaola (Bloomberg) -- When former United Nations ambassador John Bolton becomes U.S. national security adviser next month, he will cast even more doubt on the nuclear deal between Iran and major world powers, with potentially significant consequences for the oil market. Bolton, a veteran of George W. Bush’s administration known for his ardent … [Read more...]
Oil Traders Make Sea Odyssey as Gasoline Criss-Crosses Globe
By Ann Koh, Serene Cheong and Laura Blewitt (Bloomberg) -- Over the course of March, the oil tanker Nave Pyxis will slice through the Pacific Ocean as it makes an unusual journey of about 8,000 miles from China to Mexico. Its cargo: almost 300,000 barrels of gasoline to power cars that zip through the Latin American country. A number of disparate events -- maintenance work … [Read more...]
How Soaring US Oil Exports to China are Transforming the Global Oil Game
By Henning Gloystein SINGAPORE, Feb 9 (Reuters) - Bit by bit, the U.S. petroleum industry is turning world oil markets inside out. First, sharp drops in U.S. imports of crude oil eroded the biggest market that producers like OPEC had relied on for many years. Now, surging U.S. exports – largely banned by Washington until just two years ago - challenge the last region OPEC … [Read more...]