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The Latest Breaking News from crude oil

Saudi Energy Minister, Top Chinese Official Stress Importance of Stable Long-Term Crude Supplies

Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman and the director of China's National Energy Administration Zhang Jianhua on Friday stressed the importance of stable long-term supplies to crude oil markets, the Saudi state news agency SPA reported. The two agreed to continue cooperation efforts to maintain stability in oil…

Asharq Al-Awsat

Did releasing oil from the Strategic Petroleum Reserve impact gas prices?

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USAFacts

Saudi Crude Oil Exports Hit 2-Year High

Saudi Arabia’s crude oil exports hit a more than two-year high of 7.6 million barrels per day in August, according to data from the Joint Organization Data Initiative. The Kingdom saw a 3% rise from July, recording its highest volume since April 2020. It was also the third month in…

Asharq Al-Awsat

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Continental Resources Stock Surges On Boosted Takeover Offer

Harold Hamm, the billionaire founder and chairman of Continental Resources (CLR), has upped his offer to take the shale oil giant private. Hamm's decision to pay more for the company comes as both U.S. crude oil and natural gas futures have fallen from highs earlier in the year. Continental Resources…

Investors Business Daily

Oil flow to Germany resumes after Poland fixed pipeline leak

The Polish operator of an oil pipeline running to Germany says it has fixed the damage that caused a leak earlier this week and that the flow of crude oil from Russia has been fully restored

The Independent UK

Poland sees no signs of interference in oil pipeline spill

The Polish operator of an oil pipeline says there are “no signs of any third-party interference” related to a leak in a pipeline that is the main source of crude oil from Russia to Germany

The Independent UK

Jubeir: Saudi Arabia Does Not Politicize Oil

Minister of State for Foreign Affairs Adel al-Jubeir has said Saudi Arabia does not politicize oil and the shortage is not related to the fundamentals of crude oil supply and demand. "Oil is not a weapon," al-Jubeir told Fox News. "It's not a fighter plane. It's not a tank. You…

Asharq Al-Awsat

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Exxon Mobil Stock Surges On Update For Strong Q3

Exxon Mobil (XOM) stock surged Wednesday after it signaled natural gas prices would support already strong third-quarter expectations. Despite steep growth estimates, the energy giant projects it will not match its record profits from Q2 as oil prices have retreated along with refining and chemical segment profits. Exxon reported its…

Investors Business Daily

Nasdaq Tumbles 200 Points; Crude Oil Rises Over 1%

U.S. stocks extended losses midway through trading, with the Nasdaq Composite dropping more than 200 points on Wednesday.

Benzinga

Rockets, Feathers, and Rising Gasoline Prices

Saudi Arabia snubs Biden by advocating OPEC cut oil production by 2 million barrels per day.

Reason

Alphabet, Electronic Arts And This Technology Stock Insiders Are Selling

US crude oil futures traded higher this morning on Wednesday. Investors, meanwhile, focused on some notable insider trades.

Benzinga

Uganda police detain nine people for oil pipeline protest

Uganda police detained nine people protesting against a planned crude oil pipeline on Tuesday, in an escalating crackdown on critics of the project opposed by environmentalists, activists and European Union lawmakers.

Reuters

Why Bitcoin Mining Is Terrible For The Environment

Bitcoin mining is more damaging than beef production and almost as environmentally unsustainable as crude oil, according to new research. The digital currency is causing more damage to the climate over time, scientists at the University of New Mexico warn.

Zenger

OPEC+ Makes Largest Production Cut Since 2020, Oil Prices Drop

OPEC+ agreed Wednesday to cut production by 2 million barrels per day (bpd), the largest reduction since April 2020, as the cartel aims to keep oil prices high amid low global inventories. The Organization of the Petroleum Exporting Countries and its key allies including Russia, known as OPEC+, decided to…

Investors Business Daily

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The Conversation

Ghana’s petroleum sector management is a mess: what’s gone wrong?

After three decades of prospecting Ghana discovered commercially viable quantities of petroleum in 2007. Within 3.5 years, it exported its first barrels of crude oil. The progression from discovery to extraction and export was twice as rapid as the global average of six to seven years.

The Conversation

Why is Russia sending oil and gas workers to fight in Ukraine? It may signal more energy cutoffs ahead

Russia’s effort to conscript 300,000 reservists to counter Ukraine’s military advances in Kharkiv has drawn a lot of attention from military and political analysts. But there’s also a potential energy angle.

Benzinga

If You Invested $1,000 In Exxon Mobil Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the last two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.

Reuters

Peru indigenous groups block river in the Amazon after oil spill

Peruvian indigenous groups were blocking a large river in the country's Amazon region on Wednesday in protest over a crude oil spill of an estimated 2,500 barrels in the world's largest rainforest, the government said.

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Benzinga

Dow Jumps 300 Points; Crude Oil Rises Sharply

U.S. stocks traded higher this morning, with the Dow Jones gaining around 300 points on Wednesday.

Benzinga

Insiders Selling General Mills, Designer Brands And This Energy Stock

US crude oil futures traded higher by 2% on Tuesday. Investors, meanwhile, focused on some notable insider trades.

Benzinga

US Stock Futures Rise Ahead Of Economic Reports, Fed Speakers; Crude Oil Rises 1%

Pre-open movers U.S. stock futures traded higher in early pre-market trade on Tuesday after recording losses on Monday. The Dow Jones fell into a bear market on Monday, while the S&P 500 recorded a fresh closing low level for the year.

The Conversation

Nigeria is producing less and less oil. Here's why

Nigeria’s oil output was at the lowest since 1990 as its crude oil production fell below 1 million barrels per day (bpd) in August 2022. And data from the Organisation of the Petroleum Exporting Countries in early September showed that Angola and Libya have overtaken Nigeria as Africa’s highest crude…

Investors Business Daily

Dow Jones Down Big As Heavy Selling Continues; Crude Oil Hits 10-Month Low

The Dow Jones lost more than 600 points while the Nasdaq led the downside. Oil stocks fell after crude oil hit its lowest level since January.

The Independent UK

Judge approves $230M settlement in California oil spill case

A judge has approved a $230 million lawsuit settlement by the owners of a pipeline that spilled more than 140,000 gallons of crude oil into the ocean off California in 2015

Bangkok Post

Crude oil prices fall amid recession concerns

PTT reveals Q3 oil analysis

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