Brent crude articles
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Dangote refinery ramps up production with US crude – Report
The 650,000 barrels per day Dangote Petroleum Refinery is taking advantage of cheaper oil imports from the United States for as much as a third of its feedstock as it starts up production. A report by Bloomberg on Thursday stated that the plant has been shipping products in recent weeks while readying two units to Read More
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WTI Extends Losses After API Reports Unexpected Crude Build
WTI Extends Losses After API Reports Unexpected Crude Build WTI ended April on a down-note (closing lower on the month, as opposed to Brent which saw its fourth straight monthly gain) as hopes for cease-fire talks between Israel and Hamas dampened fears of a wider conflict that could threaten crude supplies. The recent declines come as a "relief to both central bankers and consumers alike," Stephen Innes, managing partner at SPI Asset Management, told MarketWatch. There's been a...
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Saudi crude production hits 7-month high in February
RIYADH: Saudi Arabia’s crude production reached a seven-month high of 9.01 million barrels per day in February, data from the Joint Organizations Data Initiative showed. This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month. Furthermore, the data indicated that the Kingdom’s crude exports rose to 6.32 million bpd, reflecting a monthly increase of 0.32 percent. In early April, the Organization of the Petroleum Exporting Countries and its...