Edition:
United States

Noah Browning

IEA cuts 2019 estimate for oil demand growth on global trade worries

Jun 14 2019

LONDON The outlook for oil demand growth in 2019 has dimmed due to worsening prospects for world trade, the International Energy Agency (IEA) said on Friday, although stimulus packages and developing countries should boost growth going into 2020.

China demand for Angolan crude oil stalls as buyers hold out for lower prices: sources

Jun 03 2019

SINGAPORE/LONDON African crude oil sales into China, the world's biggest importer, have stalled as buyers wait for spot sale offers from top supplier Angola to fall in line with slumping benchmark prices, refining and trading sources said on Monday.

Rising U.S. oil output helps fill gap left by Iran, Venezuela: IEA

May 15 2019

LONDON The world will require very little extra oil from OPEC this year as booming U.S. output will offset falling exports from Iran and Venezuela, the International Energy Agency said on Wednesday.

Oil prices jump on drone attack on Saudi Aramco facilities

May 14 2019

LONDON Oil prices rose on Tuesday after top exporter Saudi Arabia said explosive-laden drones launched by a Yemeni armed movement aligned to Iran had attacked facilities belonging to state oil company Aramco.

Outages from Russia to North Sea give physical crude a boost

May 13 2019

LONDON, May 13 Crude oil markets in Europe and West Africa are gaining support from unplanned Russian, Iranian and North Sea supply losses, and analysts say Brent futures have yet to fully reflect this.

Nigeria deploys satellite tech to track oil smugglers

Apr 30 2019

LONDON From algorithms to track "dark" ships smuggling stolen crude oil to an online licensing system to undercut corruption, one Nigerian government agency hopes it can use new technology to tackle theft which has cost the country billions.

U.S. sanctions on Iran, Venezuela set up crunch for heavier oil

Apr 29 2019

LONDON Tighter U.S. sanctions on Iranian oil planned for May are adding to a wealth of factors curbing global supply of heavy-medium crude, driving up prices for scarcer barrels and setting up a stand-off between buyers and sellers.

Venezuela oil output plummets to 870,000 bpd on outages, sanctions: IEA

Apr 11 2019

LONDON Global oil supply dropped in March as U.S. sanctions and power outages pushed Venezuela's crude output to a long-term low of 870,000 barrels per day (bpd), the International Energy Agency said on Thursday, even lower than OPEC reported the day before.

UPDATE 5-Oil up on tight supply, but economic slowdown weighs

Apr 10 2019

* U.S. crude stocks rise by 4.1 million barrels -API (Updates prices)

Squeezed by U.S. shale, Nigerian oil propped up by Asian demand

Apr 08 2019

LONDON The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and is putting them under pressure in Europe.

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