(Reuters) – Morgan Stanley lowered its long-term Brent price forecast on Tuesday and said the oil market is broadly balanced in 2019 after OPEC and its allies including Russia agreed to extend their production cuts by even longer than expected. The bank lowere... More »
SINGAPORE/BEIJING (Reuters) – China’s crude oil imports slipped 8% in May from an all-time peak hit the month before, customs data showed, as the world’s top importer of the commodity curbed shipments from Iran amid tightening U.S. sanctions on that country. C... More »
China's refiners raised crude oil processing runs to near record monthly levels in October as refining margins jumped after the country's state planner hiked prices for gasoline and diesel at the pump. More »
U.S. refiners could face a continued squeeze on profit margins in the months ahead as dwindling supplies of heavy crude from Venezuela and elsewhere are leading several to switch to higher-priced but easier-to-refine light, sweet crude. More »
Used oil barrels are seen outside a garage in Cuevas del Becerro, near Malaga, southern Spain February 16, 2015. REUTERS/Jon Nazca Passive investment funds are poised to shift an estimated $2 billion from far-term to near-term crude futures over the next week,... More »
An oil pump jack pumps oil in a field near Calgary, Alberta, July 21, 2014. REUTERS/Todd Korol Goldman Sachs expects global crude oil inventories to keep falling due to production cuts and strong growth in demand, although stocks are likely to rise in the Unit... More »
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen before a news conference at OPEC’s headquarters in Vienna, Austria December 10, 2016. REUTERS/Heinz-Peter Bader Goldman Sachs said the formal agreement by non-OPEC oil produc... More »
U.S. bank Goldman Sachs, one of the most bearish forecasters on oil over the past year, on Monday raised its short-term price outlook as it said the market had flipped into a deficit due to production outages in Nigeria and Canada. Goldman, one of the most act... More »
