Crude oil
Vitol CEO sees oil industry shrinking
LONDON (Reuters) — The world’s largest oil trader Vitol expects the oil industry to shrink given the quickening pace of the global shift to electric cars and away from fossil fuels, its chief executive said on Thursday.
Oil markets cautious as another tropical storm heads for Gulf of Mexico
SINGAPORE (Reuters) — Oil markets opened cautiously in Asia on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday.
Oil rises as talk of new OPEC deal trumps record US exports
LONDON (Reuters) — Oil prices rose on Thursday as signs Saudi Arabia and Russia would limit production through next year outweighed record US exports and the return of production at a major Libyan oilfield.
Saudi says "flexible" on Russian idea to extend oil cuts to end-2018
MOSCOW (Reuters) — Saudi Arabia made no firm pledge on Thursday to extend a deal between OPEC, Russia and other producers on cutting supplies but said it was "flexible" regarding Moscow's suggestion to prolong the pact until the end of 2018.
EIA: US crude stocks fall as exports hit new record
(Reuters) — US crude oil stocks fell sharply last week as crude exports rose to a record high of nearly 2 MMbpd, the Energy Information Administration said on Wednesday.
NuStar reopening St. Eustatius terminal after 30-day closure
HOUSTON (Reuters) — US firm NuStar Energy this week began reopening its 13-MMbbl Statia oil terminal on the Caribbean island of St. Eustatius, a month after it was closed ahead of Hurricane Irma, a company official told Reuters.
TransCanada abandons $12-B pipeline project after green push
CALGARY, Alberta (Reuters) — TransCanada Corp abandoned construction of its Energy East pipeline on Thursday, taking a $798 MM non-cash charge and handing environmental groups a major victory in efforts to hamper Canadian oil development.
Saudi Aramco plans expansion in India with new unit
NEW DELHI (Reuters) — Oil giant Saudi Aramco will open an Indian subsidiary next week, three sources said, as the top global oil exporter looks to tap rising demand and invest in the world's third-biggest consumer.
Oil weak as OPEC aims to offset rising US output
LONDON (Reuters) — Oil prices fell on Wednesday, pulled down by caution that rising US crude output could scupper a rally that lasted for most of the third quarter.
Matrix Markets auctions 4.750 MMbbl of storage capacity
HOUSTON — Matrix Markets LLC announced that 4.750 MMbbl of LOOP capacity allocation contracts (CACs) were sold during the Oct. 3 auction.
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