World oil demand, refining growth to peak in 2035 – Unipec

By Florence Tan SINGAPORE, Sep 24 : World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil use, China’s Unipec said on Monday. Improved energy efficiency and technological changes, including the rise of renewables, meant […]

Oil prices rise on tightening market, traders expect further increases

By Henning Gloystein SINGAPORE, Sept 24 : Oil prices rose on Monday as U.S. markets tightened just weeks ahead of Washington’s plan to impose new sanctions against Iran, with major traders and banks expecting prices to rise over $90 per barrel in coming months. Brent crude futures were at $79.82 per barrel at 0501 GMT, […]

Oil prices rise as markets tighten ahead of Iran sanctions

By Henning Gloystein SINGAPORE, Sept 24 : Oil prices rose on Monday as U.S. markets tightened just weeks ahead of Washington’s plan to impose new sanctions against Iran, with U.S. bank J.P. Morgan warning of price spikes abvoe $90 per barrel in coming months. Brent crude futures were at $79.71 per barrel at 0138 GMT, […]

Oil rises as markets tighten ahead of Iran sanctions

By Henning Gloystein SINGAPORE, Sept 24 : Oil prices rose on Monday as U.S. markets tightened just weeks ahead of Washington’s plan to impose new sanctions against Iran. Brent crude futures were at $79.74 per barrel at 0036 GMT, up by 94 cents, or 1.2 percent. U.S. West Texas Intermediate (WTI) crude futures rose by […]

California urges Trump administration to abandon fuel rule plan

By David Shepardson WASHINGTON, Sept 24 : California’s top air regulator urged the Trump administration on Sunday to abandon a plan to freeze fuel efficiency standards through 2026, as automakers urged state and federal regulators to reach agreement to extend nationwide rules. Mary Nichols, who chairs the state’s Air Resources Board, asked the U.S. National […]

OPEC, Russia rebuff Trump’s call for immediate boost to oil output

By Rania El Gamal, Ahmad Ghaddar and Olesya Astakhova ALGIERS, Sept 23 : OPEC’s leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any immediate, additional increase in crude output, effectively rebuffing U.S. President Donald Trump’s calls for action to cool the market. “I do not influence prices,” […]