Crude oil
Iraq gives full February crude supply to three Asia, Europe buyers despite OPEC cut
(Reuters) -- Iraq, OPEC's second-largest oil producer, has given full supply allocations of Basra crude to three refiners in Asia and Europe for February, three sources with direct knowledge of the matter said on Monday.
Refiners shun new Canadian crude blend offer from Enbridge line
CALGARY, Alberta (Reuters) -- Enbridge Inc has approved a new stream of heavy Canadian crude for export on one of its major oil pipelines to the United States, according to four trading sources. The only problem? No one wants it.
US to sell 8 MMbbls of crude oil reserves
HOUSTON (Reuters) -- The US Department of Energy on Monday issued a Notice of Sale for crude from its Strategic Petroleum Reserves, with bids for 8 million barrels of light, sweet oil due by Jan. 17.
Oil down 3% on concerns over rising Iraqi exports, US output
NEW YORK (Reuters) -- Oil prices tumbled by 3% on Monday on concern that record Iraqi crude exports and rising US output would undermine OPEC's efforts to curb global oversupply.
Rosneft to supply extra 70 MMt of oil to China from 2017-2023
MOSCOW (Reuters) -- Russian state oil company Rosneft and China's CNPC have signed an agreement to increase by 70 MMt the amount of crude oil Rosneft will supply to China via Kazakhstan over the period from Jan. 1, 2017, to Dec. 31, 2023.
Azerbaijan to raise oil shipments via Russia to 1.5 MMt in 2017
BAKU (Reuters) -- Azerbaijan's state oil company SOCAR plans to increase its shipments via Russia to 1.5 MMt in 2017 from 1.21 MMt last year, a source at SOCAR said on Monday.
Russia cuts oil output by 100,000 bpd in early January
MOSCOW (Reuters) -- Russia cut its oil production in early January by around 100,000 bpd from the previous month after an agreement with OPEC to cap global crude output, two sources from the energy sector told Reuters on Monday.
Iran capitalizes on OPEC oil cut to sell millions of barrels
LONDON (Reuters) -- Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data.
Iran in talks to export 4 MM barrels of oil per month to Philippines
ANKARA (Reuters) -- National Iranian Oil Company (NIOC) is negotiating with the Philippines over exporting four million barrels of crude per month to the country, Iran's English-language Press TV quoted a statement published on Friday by the NIOC as saying.
US crude stocks fall sharply, products surge
(Reuters) -- US crude oil inventories fell sharply as higher refining runs prompted a surge in gasoline and distillate stocks in the last week of 2016, the Energy Information Administration said on Thursday.
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