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  • Published on May 31, 2025

    OPEC+ announces major oil production increase for July

    Saudi Arabia, Russia and six other key OPEC+ members announced on Saturday a huge increase in crude production for July. They will produce an additional 411,000 barrels a day -- the same target set for May and then June -- according to a statement, which …

    Source: News.Az - Pro-Government
  • Published on May 31, 2025

    Govt Cuts Import Duty on Crude Edible Oils to 10 %; Move to Cool Prices, Protect Local Industry

    In a late-night statement, SEA president Sanjeev Asthana said, "The government's decision to increase the duty differential between crude and refined oils from 8.25 per cent to 19.25 per cent is a bold and timely move. It will discourage imports …

    Source: Outlook Business - Pending
  • Published on May 31, 2025

    Namibia-Zambia oil pipeline in limbo

    Nearlythree years after Namibia and Zambia signed an agreement to develop a cross-border oil and gas pipeline, the project has seen little progress, with minimal communication from the private companies expected to drive the initiative. The proposed …

    Source: The Namibian - Neutral
  • Published on May 30, 2025

    Crude Oil Prices Fall Amid Escalating Trade Tensions With China, Possible OPEC+ Output Hike

    At the time of writing, U.S. West Texas Intermediate (WTI) crude futures were down 1.50% at $60.03 per barrel. Crude oil prices declined by nearly 1.5% on Friday after President Donald Trump reignited trade tensions with China, saying that they “totally …

    Source: myMotherLode - Pending
  • Published on May 31, 2025

    Alberta Wildfires Threaten Oil Sands Output; Energy Experts Closely Monitoring Inferno

    Goldman energy analysts, led by Adam Wijaya, are closely tracking wildfires in Alberta, where over half a million barrels per day of crude production are at risk.  "Good morning and happy Friday! Coming in this morning to see Brent at $64/b and …

    Source: Zero Hedge - Right-wing
  • Published on May 30, 2025

    Oil prices fall on possible larger OPEC+ output hike for July

    HOUSTON: Oil prices fell on Friday and headed for a second consecutive weekly loss, as investors weigh a potentially larger OPEC+ output hike for July, and uncertainty spreads around U.S. tariff policy after the latest courtroom twist. Brent crude futures …

    Source: Business Recorder - Neutral
  • Published on May 31, 2025

    U.S. Stock Market Sees Fluctuations as Oil Prices Hold Steady

    U.S. stock indexes fluctuated on Friday, reflecting mixed investor sentiment across major sectors. Meanwhile, the price of West Texas Intermediate (WTI) crude oil remained steady at $60.80 per barrel.اضافة اعلان The Dow Jones Industrial Average rose by 54 …

    Source: Jordan News - Indeterminate
  • Published on May 31, 2025

    Unrefined palm oil: An unfairly maligned nutrient powerhouse

    Unrefined red palm oil is packed with beneficial compounds like vitamin E (tocotrienols), beta-carotene and CoQ10, offering antioxidant, heart-healthy and neuroprotective benefits. Highly processed palm oil (refine or bleached) loses nutrients, while …

    Source: Natural News - Right-wing
  • Published on May 30, 2025

    Oil prices set for weekly drop with tariff legal battles, OPEC+ in focus

    BEIJING : Oil prices were on track to end the week down more than 1 per cent on Friday amid whipsawing tariff rulings in the U.S. and as the market braced for a potential OPEC+ output hike. Brent crude futures slipped 26 cents, or 0.41 per cent, to $63.89 …

    Source: Channel News Asia - Pro-Government
  • Published on May 30, 2025

    Global crude oil prices to be around $65/barrel: Oil Minister

    Union Minister of Petroleum and Natural Gas Hardeep Singh Puri during the CII Annual Business Summit 2025, in New Delhi, May 30, 2025 | Photo Credit: PTI Oil Minister Hardeep Singh Puri said on Friday that there is enough crude oil supply coming into the …

    Source: The Hindu Business Line - Neutral
  • Published on May 31, 2025

    Oil Sector Gets Boost as Tinubu Signs New Order

    President Bola Ahmed Tinubu has signed a fresh Executive Order aimed at cutting project costs and attracting more investment into Nigeria’s oil and gas sector. The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) introduces tax rewards …

    Source: Trust TV - Indeterminate
  • Published on May 31, 2025

    India Halves Import Duty On Crude Edible Oils To Tame Inflation

    (MENAFN- KNN India) New Delhi, May 31 (KNN) In a strategic move to curb food inflation and bolster domestic refining, the Indian government announced a 10 percentage point reduction in the basic customs duty on crude edible oils. Effective immediately, the …

    Source: MENAFN - Indeterminate
  • Published on May 30, 2025

    Oil Markets Await Clear Signals From OPEC+

    WTI futures ended Thursday’s session just below a $62.59 pivot, paring earlier gains as a late-week rally fizzled. Crude prices initially rose following a U.S. trade court ruling that overturned broad Trump-era tariffs, which briefly lifted sentiment …

    Source: Oil Price - Neutral
  • Published on May 31, 2025

    Russia's Oil Economy Is Cracking At The Seams

    3 Rosneft's profit collapsed by almost 60%. Sanctions, falling oil prices and the abnormal strengthening of the ruble have hit the "heart" of Russia's oil economy, writes The Moscow Times. The net profit of Rosneft, the country's main …

    Source: Charter 97 - Center-left
  • Published on May 31, 2025

    World : Eight OPEC+ Nations To Hike Oil Production By 411,000 Barrels Per Day In July

    MOSCOW, May 31 (Bernama-Sputnik/RIA Novosti) -- The eight OPEC+ countries that voluntarily restricted their oil production agreed on Saturday to increase their combined output by 411,000 barrels per day in July from the June level, OPEC+ said, reported …

    Source: Bernama - Pro-Government
  • Published on May 31, 2025

    India’s buying more oil from US, not any less from Russia

    India has been buying more oil from the United States in recent months, as both countries look to expand their energy trade. Trump pushed hard for it when Prime Minister Narendra Modi visited Washington DC in February, putting US crude sales right at the …

    Source: CNBC-TV18 - Center-left
  • Published on May 31, 2025

    Import duty cut on crude edible oils will protect local processors: Industry bodies

    Edible oil industry bodies SEA and IVPA have hailed the government's decision to cut basic custom duty on crude oils to 10 per cent, saying the move will discourage imports of finished products and safeguard the interests of domestic refiners. On …

    Source: The Economic Times - Pending
  • Published on May 31, 2025

    Explainer-How are OPEC+ oil producers unwinding their output cuts?

    By Ahmad Ghaddar, Alex Lawler and Yousef Saba LONDON (Reuters) -The OPEC+ group of oil-producing countries has begun unwinding some of its output curbs with eight members looking to gradually add back some 2.2. million barrels per day (bpd) of supply. The …

    Source: Regional Media News - Iowa - Pending
  • Published on May 30, 2025

    PE Energy submits Landmark Engineering Audit of Oil & Gas Measurement Systems to NUPRC

    In what could best be described as a landmark milestone for Nigeria’s upstream oil and gas industry, PE Energy Limited, a leading energy services company, has completed and officially submitted the Engineering Audit Report on Upstream Measurement Equipment …

    Source: The Cable - Neutral

30 days 15:16:24

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  • Published on June 1, 2025 - 11:08 GMT

    Venezuela Maintains Strong Oil Output Despite U.S. Licenses Revocations

    (MENAFN) Venezuelan Vice President Delcy Rodriguez declared on Thursday that the recent U.S. move to revoke licenses granted to foreign companies operating in Venezuela has not disrupted the country’s oil production. Despite the U.S. Department of the …

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  • Published on June 1, 2025 - 11:08 GMT

    OPEC+ Ramps Up Oil Output by 411,000 BPD in July

    (MENAFN) On Saturday, the Organization of the Petroleum Exporting Countries (OPEC) and its allied producers, collectively called OPEC+, revealed plans to ramp up oil production by 411,000 barrels per day (bpd) starting in July. This decision was reached …

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