Markets

The biggest day-on-day increase was seen on Monday after OPEC+ opted to postpone its output hike by one more month.

The Trans Mountain Expansion (TMX) pipeline is poised to significantly enhance Canada’s crude oil export capabilities, with Gibson Energy announcing an increase in storage capacity by 870K bbl. in the fourth quarter.

Prices took a sharp dive after Israeli attacks on Iran avoided energy assets but a resurgence of tension related to the Middle East conflict later in the week was not able to bring about a week-on-week increase.

After two weeks of having been unimpressed with economic stimuli announced by China, the bulls took heart from an increase in crude-import quotas issued by Beijing.

The global oil supply landscape is marked by a complex interplay of forecasts that highlight both potential surpluses and looming crises.

The market remained in the grip of the opposing forces of a weak demand outlook and concerns of potential supply disruptions.

Brazil’s state-owned producer has initiated production operations from the Maria Quitéria floating production, storage, and offloading (FPSO) unit at the Jubarte field in the Campos Basin's presalt area offshore Brazil.

Recent developments in South America's oil and gas sectors, particularly in Guyana, Suriname, Brazil, and Argentina, are poised to significantly impact the global energy landscape.

The recent expansion of US sanctions against Iran is poised to significantly affect crude oil flows to China, as well as increase shipping costs.

Algeria is set to announce a new oil and gas licensing round aimed at attracting significant foreign investment from major companies like Chevron, Eni, ExxonMobil, and Sinopec.