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Global oil market signals near-term weakness ahead of EU embargo on Russian oil

Global oil market signals near-term weakness ahead of EU embargo on Russian oil

NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift as traders and analysts worry about falling demand for crude and a surplus market in the coming months. After months of strength, crude futures are flirting with all-year lows as major oil consumer China enters additional COVID-19-related lockdowns while central …

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Chevron can resume a key role in Venezuela's oil production and exports

Chevron can resume a key role in Venezuela’s oil production and exports

WASHINGTON/HOUSTON, Nov 26 (Reuters) – Chevron Corp on Saturday received a U.S. license allowing the second-biggest U.S. oil company to expand production in Venezuela and ship crude oil from the South American country to the United States . The ruling grants broader rights to the last major US oil company still operating in US-sanctioned Venezuela. …

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Qatar signs 27-year deal with China as LNG competition intensifies

Qatar signs 27-year deal with China as LNG competition intensifies

Kaabi says discussions with other Chinese and European buyers are ongoing Says buyers can take up to 5% stake in expansion Agreement indicates importance of long-term secure supply DOHA, Nov 21 (Reuters) – QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG), the longest such LNG deal so far, …

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Lula to begin job interviews for Petrobras overhaul

Lula to begin job interviews for Petrobras overhaul

Nov 21 (Reuters) – Brazil’s President-elect Luiz Inacio Lula da Silva is to begin talks with candidates for the leadership of oil firm Petrobras this week, sources familiar with the talks said, kicking off a difficult few months for the state-controlled company. Lula, who takes office on January 1, has already announced plans for a …

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Europe rushes to fill up on Russian diesel before ban begins

Europe rushes to fill up on Russian diesel before ban begins

LONDON, Nov 21 (Reuters) – European traders are racing to fill tanks in the region with Russian diesel ahead of the start of an EU ban in February as alternative sources remain limited. The European Union will ban imports of Russian petroleum products, on which it depends heavily for its diesel, by February 5. This …

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Global stocks gain on hopes recession warning will force Fed's hand

Global stocks gain on hopes recession warning will force Fed’s hand

Stocks rise as investors assess Fed rate moves in 2023 Treasury yields rise on tougher talks with the Fed Treasury Yield Curve Inversions Point to Recession Oil slides on rate hike, Chinese growth concerns NEW YORK/LONDON, Nov 18 (Reuters) – Global stocks edged higher and a key part of the Treasury yield curve inverted further …

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Oil slides 2%, posts second weekly decline as supply fears fade

Oil slides 2%, posts second weekly decline as supply fears fade

Market structures suggest easing supply concerns Brent and WTI post their second consecutive weekly losses Fed interest rate signals dampen sentiment Chinese demand and COVID cases in brief NEW YORK, Nov 18 (Reuters) – Oil fell about 2% on Friday, posting a second weekly decline, on concerns over weakening demand in China and further U.S. …

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Oil prices set higher following disruption of Druzhba pipeline

Oil prices set higher following disruption of Druzhba pipeline

Russian Transneft: notified by Ukraine of suspension of oil supply to Hungary via Druzhba – RIA Explosion kills two in eastern Poland as Russian missiles hit neighboring Ukraine Slower U.S. producer price growth prompts inflation optimism API shows US crude stocks falling – market sources NEW YORK, Nov 15 (Reuters) – Oil prices rose on …

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