crude oil

Government, Business, Fuel, Logistics

Canadian Crude-by-Rail Shipments to Surge, Spurring Investment

Canadian National Railway Co. Western Canadian rail loadings had already climbed as high as 411,000 barrels a day in November despite a weeklong Canadian National Railway strike that disrupted shipments. Now they’re set to reach 550,000 barrels a day. (Brent Lewin/Bloomberg News)

Canadian shipments of crude by rail are poised to surge next year, spurring investment in new export infrastructure.

Robert Tuttle | Bloomberg News
December 19, 2019
Government, Business, Fuel

Saudi Aramco Gains 10% in Debut to Clinch Top Seat at $1.8 Trillion

Saudi Aramco debut Saudi Armco and stock market officials celebrate during the official ceremony marking the debut of Aramco's (IPO) on Riyadh's stock market in Riyadh, Saudi Arabia, on Dec. 11. (Amr Nabil/AP)

RIYADH, Saudi Arabia — Saudi Arabia’s oil company Aramco gained 10% in its first moments on the stock market Dec. 11 in a dramatic debut that held until closing and pushed its value up to $1.88 trillion, surpassing Apple as the largest listed company in the world.

Aya Batrawy | Associated Press
December 11, 2019
Government, Business, Fuel, Logistics

Alberta Loosens Oil Output Limits With Railroad Allowances

oil cars Oil tankers sit at a rail yard. (David Paul Morris/Bloomberg)

Alberta took a step toward easing the pain of its crude-production caps by allowing oil companies to exceed output limits if they ship the extra production by rail.

Kevin Orland and Kriti Gupta | Bloomberg News
October 31, 2019
Government, Business, Fuel

Pemex Faces Oil Trading Team Exodus Amid Pricing Review

Pemex vehicles Pemex vehicles by Felix Marquez/AP

Petroleos Mexicanos’ head of crude oil trading Victor Briones and two other executives left the company amid a conflict over an external review of the nation’s crude price formulas, people familiar with the matter said.

September 27, 2019
Government, Business, Fuel

A 12,000-Mile Trip May Be in Vain Due to Iran Oil Sanctions

An oil tanker in the Mediterranean sea An oil tanker in the Mediterranean sea is silhouetted against the sky in the waters off the coast of Gibraltar. (Marcelo del Pozo/Bloomberg News)

More than two months and 20,000 kilometers (12,000 miles) ago, the tanker Da Yuan Hu left Singapore and headed to Mexico to pick up a shipment of crude oil. On Sept. 26, with less than two weeks to go until it reaches its destination, its long quest could be in jeopardy.

September 26, 2019
Business, Fuel

Oil in London Set for Biggest Weekly Gain in Eight Months

Oil Tanker Ali Mohammadi/Bloomberg News

Oil in London was on track for its biggest weekly increase since January as traders waited to see whether Saudi Arabia can fulfill promises to swiftly repair critical facilities attacked last weekend.

Grant Smith | Bloomberg News
September 20, 2019
Government, Business, Fuel

Oil Services Should Prepare for Recession, Rystad Warns

crude oil pump Martin Divisek/Bloomberg

The oil services sector will contract in 2020 as producers cut spending in response to lower crude prices, ending three years of growth, according to Rystad Energy.

Simon Casey | Bloomberg News
September 11, 2019
Government, Business, Fuel

Oil Rises Toward $57 as US and China Plan Talks

Oil Rig Andrey Rudakov/Bloomberg News

Oil rose near $57 a barrel as China said it will resume talks with the U.S. to try and resolve a trade impasse that has weighed on global growth and fuel consumption.

Sharon Cho and Grant Smith | Bloomberg News
September 5, 2019
Government, Business

Chevron Lays Groundwork for Venezuela Exit Before Waiver Expires

The BP-Husky Toledo Refinery at sunset in Oregon, Ohio The BP-Husky Toledo Refinery at sunset in Oregon, Ohio, on June 13, 2017. (Luke Sharrett/Bloomberg News)

Chevron Corp. appears to be laying the groundwork to leave Venezuela in the event that the U.S. declines to extend a waiver allowing it to continue operating in the country.

September 3, 2019
Government, Business, Fuel

Oil Heads for Biggest Gain Since Mid-July

Crude Oil Andrey Rudakov/Bloomberg News

Oil headed for its biggest weekly increase since mid-July after a sizable drop in American crude inventories and an apparent pause in U.S.-China trade hostilities eased demand fears.

August 30, 2019