‘Tax people in this room’ to help the poor, Shell CEO tells energy conference

‘Tax people in this room’ to help the poor, Shell CEO tells energy conference

LONDON, Oct 4 (Reuters) – European governments should tax corporates to help weaker parts of society weather soaring energy costs but not intervene to cap gas prices, Shell (SHEL.L) Chief Executive Officer Ben van Beurden told an energy conference on Tuesday. Speaking before the Energy Intelligence Forum in London, Van Beurden said that European energy … Read more

OPEC+ mulling largest cuts since 2020 crisis, sources say

OPEC+ mulling largest cuts since 2020 crisis, sources say

LONDON, Oct 3 (Reuters) – The OPEC+ group of oil producers is discussing output cuts of more than 1 million barrels per day (bpd), OPEC sources said, and voluntary cuts by individual members could come on top of that, making it their largest cut since 2020. The group is set to meet on Oct. 5 … Read more

Oil rebounds 3% as OPEC+ weighs biggest output cut since 2020

Oil rebounds 3% as OPEC+ weighs biggest output cut since 2020

OPEC+ considers cut of more than 1 mln bpd -sources China issues largest oil products quota this year SINGAPORE, Oct 3 (Reuters) – Oil prices jumped more than 3% in early Asian trade on Monday, as OPEC+ considers cutting output by more than 1 million barrels a day for its biggest reduction since the pandemic, … Read more

Los Angeles wholesale gasoline hits new high on refinery outages

Los Angeles wholesale gasoline hits new high on refinery outages

HOUSTON, Sept 28 (Reuters) – Wholesale October gasoline sold in the Los Angeles market at $2.50 a gallon over NYMEX November RBOB gasoline futures on Wednesday, a high previously unseen in the West Coast refined products markets on tight supply because of refinery outages, traders said. The price for wholesale CARBOB gasoline, which stands for … Read more

EXCLUSIVE Afghan Taliban sign deal for Russian oil products, gas and wheat

EXCLUSIVE Afghan Taliban sign deal for Russian oil products, gas and wheat

KABUL, Sept 27 (Reuters) – The Taliban have signed a provisional deal with Russia to supply gasoline, diesel, gas and wheat to Afghanistan, Acting Afghan Commerce and Industry Minister Haji Nooruddin Azizi told Reuters. Azizi said his ministry was working to diversify its trading partners and that Russia had offered the Taliban administration a discount … Read more

Oil up 2% from multi-month low on U.S. Gulf output cuts, supply outlook

Oil up 2% from multi-month low on U.S. Gulf output cuts, supply outlook

BP, Chevron cut offshore oil production ahead of Hurricane Ian Iraq says OPEC monitoring prices, seeks market balance Coming up: API supply report at 4:30 p.m. EDT, 2030 GMT NEW YORK, Sept 27 (Reuters) – Oil rose more than $1 a barrel on Tuesday from a nine-month low a day earlier, supported by supply curbs … Read more

Oil prices fall for a second day on concerns for expected recession

Oil prices fall for a second day on concerns for expected recession

Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by … Read more

U.S. senators want secondary sanctions on Russian oil

U.S. senators want secondary sanctions on Russian oil

Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 20 (Reuters) – Democratic and Republican senators on Tuesday proposed that U.S. President Joe Biden’s administration use secondary sanctions on international banks to strengthen a price cap G7 countries plan to impose on Russian oil over Moscow’s invasion of Ukraine. Democratic Senator Chris Van … Read more

Oil dips on recession fears; supply concerns limit declines

Oil dips on recession fears; supply concerns limit declines

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base Register now for FREE unlimited access to Reuters.com Register SINGAPORE, Sept 19 (Reuters) – Oil prices dipped on Monday as fears of a global recession caused concerns that fuel demand growth … Read more

Stubbornly high rents, food prices boost U.S. inflation in August

Stubbornly high rents, food prices boost U.S. inflation in August

Consumer price index rises 0.1% in August Rents, food and healthcare account for increase in CPI Core CPI surges 0.6%; increases 6.3% year-on-year WASHINGTON, Sept 13 (Reuters) – U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third … Read more