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This post was originally published on this siteLONDON/MOSCOW, Dec 30 (Reuters) – OPEC and its allies will probably stick to their existing policy of modest monthly increases in oil output at a meeting next week, four sources said, as demand concerns raised by the Omicron coronavirus variant ease and oil prices recover. The Organization of […]

This post was originally published on this siteDec 27 (Reuters) – Venezuela this year almost doubled its oil production from last year’s decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos de Venezuela (PDVSA.UL), known as PDVSA,

This post was originally published on this site(Bloomberg) Williams Cos., one of the biggest transporters of natural gas in the U.S., said an intentional release of a powerful greenhouse gas detected by satellite was caused by work on one of its pipelines. The cloud of methane, which is the primary component of natural gas and traps 84

This post was originally published on this siteBy Joe Carroll Dec 30, 2021, 2:45 PM – Updated on Dec 30, 2021, 2:45 PM Word Count: 101 (Bloomberg) —Exxon Mobil Corp. said higher crude oil and natural gas prices boosted quarterly results by as much as $1.9 billion. Gas prices added $700 million to $1.1 billion to

This post was originally published on this siteDec 30, 2021 (Bloomberg) Exxon Mobil Corp. was granted another oil loan from the U.S. strategic reserves under President Joe Biden’s effort to ease pain at the gasoline pump. Exxon was awarded 2 million barrels as part of the crude-exchange program announced in November after gasoline prices touched a seven-year high.

This post was originally published on this siteU.S. natural gas futures fell more than 3% on Thursday as output continues to rise and the U.S. market followed a slide in European gas prices. That price drop came despite a bigger-than-expected storage withdrawal last week and forecasts for colder weather and more heating demand over the

This post was originally published on this siteDec 30, 2021 (Bloomberg) Kuwait’s candidate to take over as OPEC’s top diplomat has widespread support from the group’s members, delegates said. Haitham al-Ghais, an executive at Kuwait Petroleum Corp., has backing from a number of nations to succeed Mohammad Barkindo as secretary-general, said the delegates, who asked

This post was originally published on this siteDec 29, 2021 (Bloomberg) Oil-pipeline giant Energy Transfer LP must pay a $410 million for scuttling a $33 billion merger with rival Williams Cos. over a tax flaw in the deal, a judge concluded. Since Dallas-based Energy Transfer — owned by billionaire Kelcy Warren — successfully pulled the plug

This post was originally published on this siteDec 30, 2021 (Bloomberg) Oil edged lower after its longest run of gains since February, as the market weighed a series of supply outages against smaller quotas in China, the world’s largest crude importer. West Texas Intermediate traded near $76 a barrel after a 12% jump over six sessions.