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Last update: Mon, 29 Aug 2016 08am

Americas

Markets - Energy - Americas

Mexico's Pemex says crude output flat in June, exports down MEXICO CITY: Crude oil production at Mexican state-owned Pemex was flat in June compared with the prior month, while exports fell slightly, the company said on Monday. According to Pemex's website, crude oil production averaged 2.18 million barrels per day (bpd) in June, slightly up from 2.17 million in May. In contrast, exports fell almost 9 percent to 1.10 million bpd in June, down from 1.20 million in the prior month. Pemex has been struggling with a decline in international crude prices, heavy financial losses and safety problems. Crude output has fallen by about a third since peaking in 2004. The company has announced a series of budget cuts, most of which will hit its exploration and production budget. The company now expects output to average 2.13 million bpd for 2016.Copyright Reuters, 2016 ...

Markets - Energy - Americas

Oil falls on oversupply, demand concerns; US crude hits 3-month low NEW YORK: Oil prices fell more than 2 percent on Monday, with US crude hitting a three-month low, on rising concerns that a global glut of crude and refined products would pressure markets, delaying a long-anticipated rebalance in the market. Data from market intelligence firm Genscape pointing to an inventory rise of 1.1 million barrels at the Cushing, Oklahoma delivery point for US crude futures in the week to July 22 weighed on crude prices, ...

Markets - Energy - Americas

Oil continues slide on inventory glut NEW YORK: Oil futures were down again on Monday as investor concerns about a supply glut showed no sign of letting up.West Texas Intermediate benchmark crude for September delivery lost $1.06 on the New York Mercantile Exchange, sinking to $43.13, its lowest level in three months.In London, North Sea Brent crude for September hit its lowest price since May, sinking 97 cents to $44.72 on the Intercontinental Exchange."You really have a hangover from last week's ...

Markets - Energy - Americas

ExxonMobil buys Papua New Guinea company for $2.5bn NEW YORK: ExxonMobil announced Thursday that it will acquire InterOil Corp. in Papua New Guinea for more than $2.5 billion as it expands its holdings in the Pacific nation.The all-cash deal will give the US oil giant access to the giant Elk-Antelope gas field, which will contribute to a new liquefied natural gas project ExxonMobil plans in the country.ExxonMobil already operates the PNG LNG project in Papua New Guinea, which began shipping gas in 2014."InterOil's ...

Markets - Energy - Americas

Oil down 2pc as record US stockpiles heighten glut worry NEW YORK: Oil prices fell nearly 2 percent on Thursday, as the market took a closer look at US government data that showed growing inventories of gasoline and other oil products pushed total petroleum supplies in the world's largest oil consumer to a record high. The previous session, Brent and US crude futures rose by up to 1 percent after the Energy Information Administration (EIA) said crude inventories dropped 2.3 million barrels last week, versus ...

Markets - Energy - Americas

Oil prices rebound on US stockpiles data NEW YORK: Oil prices recovered from two-month lows on Wednesday as markets reacted to a drop in crude inventories in the United States.The US Department of Energy reported that crude stockpiles fell by 2.3 million barrels last week, offsetting a surprise rise in gasoline inventories during the peak demand season for American motor fuel.US benchmark West Texas Intermediate for August delivery rose 29 cents to $44.94 on the New York Mercantile Exchange.Brent North Sea crude ...

Markets - Energy - Americas

Oil prices up 1pc after ninth weekly US crude drawdown NEW YORK: Oil prices rose 1 percent on Wednesday, lifting US crude from two-month lows, after the US government reported a ninth straight week of crude inventory draws, easing some concerns in a market worried about a fuel glut. US gasoline prices, however, hit four-month lows after the data from the US Energy Information Administration also showed a surprise build in supplies of the motor fuel despite forecasts of American drivers hitting the road in ...