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London (Platts)--16 Feb 2018 822 am EST/1322 GMT
Crude futures were a touch firmer at midday in Europe Friday, still taking support from weekly US stocks data and the weakness in the dollar through the week.
London (Platts)--16 Feb 2018 625 am EST/1125 GMT
Italy's Eni like its other peers enjoyed a strong 2017, and amid higher oil prices and record high output, the oil major expects to create "substantial value surplus" for its shareholders after four years of intense change, it said Friday.
Washington (Platts)--15 Feb 2018 242 pm EST/1942 GMT
North Dakota oil output fell to 1.18 million b/d in December, down nearly 15,700 b/d from December and the first production decrease from the previous month since June, according to the state's Department of Mineral Resources.
London (Platts)--15 Feb 2018 143 pm EST/1843 GMT
The three most closely watched market forecasters have divergent market outlooks for this year in their most recent monthly reports, with the US Energy Information Administration forecasting 2018 to see record US crude production along with a sharp rise in global demand growth.
London (Platts)--15 Feb 2018 1213 pm EST/1713 GMT
OPEC is drafting an agreement that would institutionalize the producer group?s oil market cooperation with Russia and other allies beyond their current output cut agreement, which expires at the end of the year.
Moscow (Platts)--15 Feb 2018 853 am EST/1353 GMT
Russia's Lukoil said Thursday its crude and gas condensate output were reduced by 5% year on year to 1.755 million b/d in 2017, as the company's production levels in Russia were limited in line with the country's commitments under the OPEC/non-OPEC output cut deal and its share in Iraqi's West Qurna-2 output dropped significantly last year.
Singapore (Platts)--15 Feb 2018 507 am EST/1007 GMT
China's apparent oil demand rose 5.5% year on year to 11.77 million b/d in 2017, but analysts said that they expected rising crude prices and an anticipated slowdown in economic growth to take a toll on consumption of oil products.
New Delhi (Platts)--14 Feb 2018 1038 pm EST/338 GMT
India will receive 0.75 million mt (5.48 million barrels) of crude from the UAE in April-May as part of a deal with ADNOC to fill up one cavern at the Mangalore strategic reserves facility, oil ministry officials said Thursday.
New York (Platts)--14 Feb 2018 550 pm EST/2250 GMT
US President Donald Trump endorsed increasing the gasoline tax by 25 cents/gal during a meeting with members of Congress Wednesday morning, according to sources familiar with the discussion.
New York (Platts)--14 Feb 2018 500 pm EST/2200 GMT
The oil complex snapped higher Wednesday, overcoming early pressure from monthly inflation data after the US Energy Information Administration reported a smaller-than-expected build in crude stocks.
Washington (Platts)--14 Feb 2018 404 pm EST/2104 GMT
The White House and congressional Republicans are weighing the first increase in the federal gasoline tax in 25 years, a proposal that could dampen demand.
London (Platts)--14 Feb 2018 929 am EST/1429 GMT
OPEC and its allies in a production cut agreement are not concerned about overtightening market balances and would prefer to "err on the safe side" instead of exiting the deal prematurely, Saudi energy minister Khalid al-Falih said Wednesday.
London (Platts)--14 Feb 2018 656 am EST/1156 GMT
Nigeria will refocus on oil projects that deliver higher returns to keep production within the limits set by OPEC, oil minister Emmanuel Kachikwu said late Tuesday.
Singapore (Platts)--14 Feb 2018 237 am EST/737 GMT
High sulfur fuel oil cracks in Asia are strengthening amid weaker crude prices and healthier demand in the fuel oil and bunker fuel markets, hitting their highest levels since the start of this year.
Tokyo (Platts)--13 Feb 2018 958 pm EST/258 GMT
Saudi Arabia's commitment to the OPEC-led production output cut deal was confirmed with reduced exports to key Asian outlets in 2017, but Japanese imports of Saudi crude jumped to the highest level in 35 years as the kingdom also maintained its flexibility to meet demand whenever there is a need.
Houston (Platts)--13 Feb 2018 124 pm EST/1824 GMT
Repair work at ExxonMobil's 238,600 b/d refinery in Channahon, Illinois, that was planned for March has begun in February, encouraging a wider spread between CBOB on the West Shore Pipeline and on the Buckeye Complex in Chicago, Midwest market sources said Tuesday.
Moscow (Platts)--13 Feb 2018 526 am EST/1026 GMT
Russia wants to build a long-term relationship with Saudi Arabia and the broad OPEC alliance once their pact to restrict oil supplies expires, energy minister Alexander Novak said in an interview with S&P Global Platts.
London (Platts)--13 Feb 2018 501 am EST/1001 GMT
The International Energy Agency on Tuesday raised its estimate of global oil demand growth this year to 1.4 million b/d, but also raised its estimate of US oil output growth to 1.52 million b/d, citing the shale industry's "second wave" of growth.
Singapore (Platts)--12 Feb 2018 1143 pm EST/443 GMT
A weakening Dubai cash to swap spread has led the Middle East oil complex into softer territory this month as demand in Asia dips due to maintenance at several key refineries.
Washington (Platts)--12 Feb 2018 1245 pm EST/1745 GMT
The Trump administration Monday again proposed selling off the 1 million barrel Northeast Gasoline Supply Reserve, calling it unnecessary and costly to operate.
London (Platts)--12 Feb 2018 1158 am EST/1658 GMT
Venezuela is increasingly turning to its ally Russia for crude oil, as a dramatic fall in its crude output is pushing the country to import crudes for its refineries.
London (Platts)--12 Feb 2018 728 am EST/1228 GMT
With oil prices some 25% higher than a year ago encouraging more drillers to get back into the game, especially in the US, OPEC on Monday was again prompted to concede that far more crude from outside the bloc would be supplied to market this year than it had previously expected.
Singapore (Platts)--12 Feb 2018 555 am EST/1055 GMT
Crude oil traders in Asia were unsure of trading patterns for Abu Dhabi's Das Blend crude grade for April loading, amid an ongoing equity reshuffle of the crude blend's constituent oil fields, they told S&P Global Platts on Monday.
Singapore (Platts)--12 Feb 2018 244 am EST/744 GMT
China has received around 2.41 million mt of Russian ESPO crude via two 15 million mt/year China-Russia crude pipelines in January, up 66% on the year, according to a local media report Monday, citing data from the Heilongjiang Entry-Exit Inspection and Quarantine Bureau.
Singapore (Platts)--11 Feb 2018 1131 pm EST/431 GMT
Iraq's oil production averaged 4.360 million b/d in January, including crude oil from the semi-autonomous Kurdistan Region, roughly inline with its December output, the country's State Oil Marketing Organization said Sunday.
Singapore (Platts)--11 Feb 2018 827 pm EST/127 GMT
China's crude oil imports rose 19.4% on the year to a historic high of 40.64 million mt, or 9.61 million b/d, in January, rebounding from December, preliminary data released Thursday by the General Administration of Customs showed.
Dubai (Platts)--10 Feb 2018 1122 pm EST/422 GMT
State-owned Abu Dhabi National Oil Company signed its first international partner for one of its prized offshore concessions, awarding a 10% stake to an Indian consortium led by ONGC Videsh.
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