OilPrice

JUNE 3, 2025

Venezuelas oil exports remained largely unchanged in May despite mounting pressure from the U.S. authorized sales as state-run PDVSA scrambled to re-route barrels ahead of tightening sanctions. and the expiration of key licenses that once allowed limited sanctioned trade. Increased shipments to China helped offset a sharp drop in U.S.-authorized

Oil 328

Oil Barrel 328

OilPrice

JUNE 3, 2025

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again this week, this time by 3.3 million barrels in the week ending May 30 after analysts had estimated a 900,000-barrel draw. The API reported a 4.236 million barrel inventory decrease in the prior week.

American Petroleum Institute 233

American Petroleum Institute API Crude Oil Petroleum 233

OilPrice

JUNE 3, 2025

The eight members of OPEC+ that were keeping their production of crude oil under restraints agreed on Saturday to add another 411,000 barrels daily to their combined total in July after making identical agreements for May and June. Prices, however, did something that not everyone expected them to do: they went up.

Oil 318

Oil Crude Oil Barrel IT 318

OilPrice

JUNE 3, 2025

Oil prices posted modest gains Tuesday, fueled by renewed geopolitical risk and signs of tightening supply, though upside may be limited by ongoing uncertainty around Iran and soft macroeconomic indicators. As of late morning, WTI crude was trading at $63.76 (+1.98%), and Brent at $65.74 (+1.72%). natural gas

Oil 282

Oil Natural Gas Barrel Gas 282

OilPrice

JUNE 2, 2025

Abu Dhabis national oil company, ADNOC, forecasts lower export volumes of its flagship Murban crude between August 2025 and May 2026, as it plans to process higher volumes of the grade domestically.

Oil 266

Oil Barrel IT 266

Rigzone

JUNE 5, 2025

Crude oil stocks, not including the SPR, stood at 436.1 million barrels on May 30, the EIA's latest weekly petroleum status report showed.

Crude Oil 95

Crude Oil Barrel Oil Petroleum 95

OilPrice

JUNE 4, 2025

Crude oil prices reversed their trajectory from earlier this week, trending lower today after the American Petroleum Institute reported an estimated inventory rise in both gasoline and middle distillates, and Saudi Arabia cut its oil prices for Asian buyers to an almost four-year low. Brent crude was trading at $64.76

American Petroleum Institute 223

American Petroleum Institute API Oil Crude Oil 223

BOE Report

JUNE 5, 2025

Irving Oil said on Thursday it plans to invest $100 million to upgrade a key crude oil processing unit at its 320,000 barrel-per-day Saint John facility in New Brunswick, Canada’s largest refinery.

Refinery 96

Refinery Oil Crude Oil Barrel 96

OilPrice

JUNE 4, 2025

State-run oil giant PetroChina will shut the last remaining crude processing unit at its biggest refinery in northern China within weeks, industry sources told Reuters on Wednesday. Now the last remaining crude unit, with a capacity of 200,000 bpd, will be switched off on June 30, according to Reuterss sources.

Refinery 253

Refinery IT Barrel Oil 253

OilPrice

JUNE 4, 2025

Crude oil exports from Iran to its biggest buyer, China, shrank last month on tighter U.S. million barrels of crude to China daily, which was 20% lower than export flows in May 2024. The data is not entirely certain, however, as tankers carrying Iranian crude abroad use a variety of moves to mask their origin and route.

Oil 221

Oil Crude Oil Refinery Maintenance 221

OilPrice

JUNE 3, 2025

Crude oil prices extended their climb that began Monday as concerns about supply security deepened. At the time of writing, Brent crude was trading at $64.85 per barrel and West Texas Intermediate was changing hands for $62.82 per barrel, after rising by about 3% on Monday, per Reuters.

Oil 171

Oil Crude Oil Barrel 171

OilPrice

JUNE 3, 2025

BPs refinery in Rotterdam had both its crude units offline on Tuesday morning, Reuters reports, citing energy consultancy Wood Mackenzie. A crude unit with a capacity of 200,000 barrels per day (bpd) went offline early on Tuesday. This follows the shutdown of the other 200,000 bpd crude unit in early May for planned maintenance.

Refinery 156

Refinery Shutdown Maintenance Consulting 156

Oil & Gas 360º

JUNE 6, 2025

(Investing) – OPEC+ has been unwinding its voluntary production cuts at a faster rate than it had previously outlined, although this has yet to translate into a noticeable change in volumes on very large crude carriers, according to analysts at Jefferies. million barrels per day, or 62% of the 2.2

Crude Oil 130

Crude Oil Petroleum Barrel Transportation 130

Rigzone

JUNE 5, 2025

Image by BrianAJackson via iStock Petronas, Malaysia’s state-owned oil and gas company, will cut about 10% of its workforce in a firm-wide restructuring as it looks to reduce costs due to falling crude prices. “It will be challenging to meet dividend targets” with current oil prices, he said.

Natural Gas 75

Natural Gas Oil Field Gas 75

BOE Report

JUNE 4, 2025

crude oil stockpiles fell last week as oil refiners ramped up production with the start of the summer driving season, while fuel inventories rose amid weaker demand, data from the Energy Information Administration showed on Wednesday. Crude inventories fell by 4.3 million barrels to 436.1

Crude Oil 98

Crude Oil Barrel Oil Energy 98

BOE Report

JUNE 1, 2025

Oil prices rebounded more than $1 a barrel in early Asian trade on Monday after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, in line with market expectation. Brent crude futures climbed $1.06, or 1.69%, to $63.84 a barrel by 2244 GMT [Read more]

Oil 104

Oil Barrel IT 104

Oil & Gas 360º

JUNE 4, 2025

(Investing) – Crude futures tumbled 1.4% today as market participants reacted to a report by Bloomberg indicating that Saudi Arabia is advocating for more aggressive oil supply increases by OPEC+. This move is part of the kingdoms strategy to capitalize on the peak oil demand during the northern hemispheres summer season.

Barrel 130

Barrel Oil Petroleum IT 130

BOE Report

JUNE 3, 2025

Oil prices slipped in Asian trade on Wednesday, weighed down by concerns of increasing OPEC+ output and tariff tension that threatens the global economic outlook, though worries about Canadian supply provided a floor. Brent crude futures dipped 23 cents, or 0.4%, to $65.40 a barrel by 0318 GMT, while U.S.

Oil 72

Oil Barrel 72

BOE Report

JUNE 2, 2025

Oil prices rose in early Asia trade on Tuesday on concerns about supply, with Iran set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer, and with production in Canada hit by wildfires. Brent crude futures gained 55 cents, or 0.85%, to $65.18 a barrel [Read more]

Oil 64

Oil Barrel 64

BOE Report

JUNE 2, 2025

Wildfires burning in Canada’s oil-producing province of Alberta have affected more than 344,000 barrels per day of oil sands production, or about 7% of the country’s overall crude oil output, according to Reuters calculations.

Oil 59

Oil Crude Oil Barrel Operator 59

Iraq Business News: Oil & Gas

MAY 31, 2025

The Iraqi Ministry of Oil has announced that crude oil production at the Nasiriyah and Saba [Subba] fields has been raised to a combined total of 100,000 barrels per day (bpd), as part of the first phase of a broader integrated development plan. By John Lee.

Field 59

Field Oil Crude Oil Engineer 59

Rextag

JUNE 2, 2025

A Multi-Pronged Strategy to Sustain Growth Beyond Tight Oils Crown Jewel The transformation of the United States into a global energy powerhouse over the past two decades is inseparable from the fracking-led renaissance of the Permian Basin. million b/d by 2035 assuming a real oil price of US$70 per barrel (WTI). million b/d.

Basin 40

Basin Exploration and Production Condensate Oil 40

Rigzone

JUNE 6, 2025

In a statement posted on its website in February, BP announced a “fundamentally reset strategy” This strategy will see BP grow its upstream oil and gas business, focus its downstream business, and invest with increasing discipline into the transition, the company noted in that statement.

Exploration and Production 52

Exploration and Production Field Upstream Gas 52

Oil & Gas 360º

JUNE 2, 2025

(Investing) –LONDON -Oil prices jumped by about 4% on Monday after producer group OPEC+ kept output increases in July at the same level as the previous two months. Brent crude futures climbed by $2.28, or 3.6%, to $65.06 a barrel by 1335 GMT. West Texas Intermediate crude was up $2.99, or 4.9%, at $63.78.

Oil 130

Oil Barrel Petroleum IT 130

Oil & Gas 360º

JUNE 4, 2025

(Oil Price) –OPEC+ did what everyone expected it to do last weekend, announcing another production ramp-up. The news followed speculation reported by the media that the cartel could add more barrels this time just to teach everyone a lesson. million barrels daily from 24.85 million barrels daily.

Oil 130

Oil Barrel Crude Oil Shutdown 130

Rigzone

JUNE 6, 2025

Image by mustafaU via iStock Oil rose as stronger-than-expected US jobs data eased concerns about an economic slowdown that would crimp demand, spurring algorithmic traders to reduce short positions. West Texas Intermediate climbed almost 2% to settle above $64 a barrel, notching the largest weekly gain since November.

Oil 64

Oil Barrel Gas Natural Gas 64

Oil & Gas 360º

JUNE 3, 2025

(BOE Report) – Venezuelas oil exports remained almost unchanged last month as increased shipments to customers in China offset a decline in U.S.-authorized Treasury and State departments in March revoked the authorizations they had granted in recent years for PDVSAs customers and partners to export oil from sanctioned Venezuela.

Oil 130

Oil Completion Barrel Government 130

Oil & Gas 360º

JUNE 2, 2025

(Oil Price) –Crude oil prices were trading up nearly 4% on Monday afternoon, with analysts attributing the spike to escalating geopolitical tensions, and the aftermath of a massive Ukrainian drone strike on four Russian military airports overnight. ET, Brent crude was trading up 3.78% to $65.15 per barrel.

Oil 130

Oil Crude Oil Barrel IT 130

BOE Report

JUNE 5, 2025

Oil prices slipped on Friday but were on track for their first weekly gain in three weeks after U.S. Brent crude futures fell 12 cents, or 0.2%, to $65.22 a barrel as [Read more]

Oil 94

Oil Barrel 94

Oil & Gas 360º

JUNE 3, 2025

(Oil Price) –It is highly unlikely that anyone with even a modicum of intelligence has lost money in the past ten years or so by trading against the predictable thinking of those in charge of Saudi Arabias oil policy. shale oil sector, as analysed in full in my latest book on the new global oil market order.

Oil 130

Oil IT Barrel E&P 130

Rigzone

JUNE 5, 2025

China trade war may ease outweighed concerns about increased OPEC+ crude output. China trade war may ease outweighed concerns about increased OPEC+ crude output. Image by DavidLeshem via iStock Oil rallied as signs the US-China trade war may ease outweighed concerns about increased OPEC+ crude output.

Oil 64

Oil Barrel Crude Oil Gas 64

Oil & Gas 360º

JUNE 3, 2025

(Investing) –NEW YORK -Oil prices climbed about 2% on Tuesday to a two-week high, as persistent geopolitical tensions between Russia and Ukraine and the U.S. Brent crude futures rose $1.11, or 1.7%, to $65.74 a barrel at 11:21 a.m. West Texas Intermediate (WTI) crude rose $1.17, or 1.9%, to $63.69. according to U.S.

Oil 130

Oil Barrel Petroleum IT 130

Oil & Gas 360º

JUNE 5, 2025

(Investing) – HOUSTON -Oil prices rose 1% on Thursday, rebounding from the previous day’s drop as traders responded to news that U.S. Brent crude futures were up 65 cents, or 1%, at $65.51 a barrel by 11:36 a.m. West Texas Intermediate crude rose 66 cents, or 1.05%, to $63.51 EDT (15:36 GMT). EDT (15:36 GMT).

Oil 130

Oil Barrel Crude Oil IT 130

Valor

JUNE 2, 2025

June 2, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. shale drillers, yet WTI crude futures rose 3% due to geopolitical tensions. This regulatory shift positions Europe as the new CCS hub, leveraging oil companies expertise for decarbonization, as the U.S.

BCF 52

BCF Energy Energy Basin 52