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Crude prices

ConocoPhillips profit tops as travel demand boosts oil prices
Business & Finance

ConocoPhillips profit tops as travel demand boosts oil prices

  • Conoco said its total average realized price was $45.36 per barrel of oil equivalent in the quarter, much higher than the $33.21 it earned in the last three months of 2020.
  • The company also outlined a plan to cut its gross debt by $5 billion over the next five years and its intention to exit its 10% stake in Canadian producer Cenovus Energy Inc by the fourth quarter of 2022.
Published 04 May, 2021 05:25pm
India terms Saudi response to call for more oil supplies 'undiplomatic'
Markets

India terms Saudi response to call for more oil supplies 'undiplomatic'

  • "I politely disagree with that kind of statement. Certainly India has its own strategy, when and how to use our own storage, and we are conscious about our interests," Pradhan said at an event.
  • He has blamed Saudi Arabia's voluntary production cuts for contributing to a spike in global oil prices.
Published 26 Mar, 2021 06:36pm
TSX falls as energy stocks track weaker crude
Markets

TSX falls as energy stocks track weaker crude

  • The energy sector dropped 2.1% as crude prices fell amid a new round of coronavirus restrictions in Europe which revived worries about demand for oil products.
  • Toronto Stock Exchange's S&P/TSX composite index was down 78.03 points, or 0.42%, at 18,550.26.
Published 25 Mar, 2021 08:08pm
ConocoPhillips resumes share buybacks, promises capital discipline
Markets

ConocoPhillips resumes share buybacks, promises capital discipline

  • Despite the uptick in crude prices, oil companies are expected to largely limit spending to marginally higher as investors reward companies showing capital discipline after years of low returns from the sector.
  • We believe this market will favor companies who demonstrate sustainable discipline and strong free cash flow generation with a track record of predictable returns of capital.
Published 10 Mar, 2021 07:35pm
Saudi crude exports hit eight-month peak in December 2020
Markets

Saudi crude exports hit eight-month peak in December 2020

  • Exports rose to 6.495 million barrels per day (bpd), highest since April 2020, from November's 6.35 million bpd.
  • Saudi domestic crude refinery throughput fell by 0.4% to 2.33 million bpd, while direct crude burn dropped by 53,000 bpd to 267,000 bpd.
Published 17 Feb, 2021 08:46pm
North Dakota oil prices surge and output stalls as pipeline's fate awaited
Markets

North Dakota oil prices surge and output stalls as pipeline's fate awaited

  • The deal with Atlas Crest Investment Corp, announced on Wednesday, is expected to provide $1.1 billion of proceeds to the company which makes electric aircraft with vertical take-off and landing.
  • Separately, United Airlines said it would buy $1 billion of Archer's aircraft, with an option to buy an additional $500 million of aircraft, as part of its decarbonization efforts.
Published 10 Feb, 2021 06:29pm
Oil prices climb
Markets

Oil prices climb

• IEA cuts 2021 oil demand outlook, but sees upturn in H2 NEW YORK: Oil prices climbed with US stock markets on...
Published 20 Jan, 2021 04:29am