1. Oil declines as supply concerns loom with summer season ending

    #oilwire - #Oil slid on concerns that supplies may rise once the summer driving season ends , with traders shrugging off an industry report showing U . S . stockpiles declined . Crude inventories dropped by 7 . 84 MMbbl last week in an #AmericanPetroleumInstitute report released Tuesday , people familiar with the data said . That would be the largest draw since September if Energy Information Administratio . . .

  2. France plans to end oil output by 2040 with exploration ban

    #oilwire - #France will stop granting new #exploration #permits next year as it seeks to end all oil and gas production by 2040 , according to a #draftbill presented at a cabinet meeting Wednesday . The move would allow the #government to turn down more than 40 exploration requests already made , while some existing permits may be extended to respect contracts , the presentation showed . That includes . . .

  3. Putin hosts Saudi King on landmark Russia visit amid oil talks

    #oilwire - President #VladimirPutin began talks with #SaudiKing #SalmanbinAbdulaziz , who’s making a historic first visit to #Russia by a monarch of the Gulf kingdom as the two energy superpowers seek an understanding on whether to extend an agreement curbing oil supplies . The #Kremlin summit is a “landmark event” that will give a “good impetus” to bilateral relations , Putin told King Sal . . .

  4. Gazprom in talks to ramp up natural gas sales in the UK as Rou...

    #oilwire - #Gazprom PJSC is in talks to ramp up #naturalgas #sales in the #UK as #coal plants are shuttered and the nation’s biggest #storage site is closed for good . “We see an appetite from major players in the UK for additional volume of contracted #gas , ” Deputy #CEO Alexander Medvedev said in an interview in #Prague on Thursday , declining to provide further details on negotiations . “Ou . . .

  5. Oil set for first weekly loss in a month as crude supply rises

    #oilwire - #Oil was set for the first weekly decline since early September as concerns about rising global production countered potential output disruptions in the #US . #Gulf from Tropical Storm Nate . #Futures fell 2 . 1% in #NewYork , bringing the weekly drop to 3 . 8% . #OPEC output climbed marginally in September , U . S . production reached a two-year high last week and #Libya restarted its biggest oil . . .

  6. Fight for Iraq's future targets 90-year-old Kirkuk oil field

    #oilwire - The latest battle for #Iraq’s future is unfolding around the country’s oldest #oil #field . #Federalgovernment troops pushed back forces from the semi-autonomous #Kurdish region with a rapid thrust into #Kirkuk province in northern Iraq , breaking a stand-off over the long-disputed area . #Baghdad wants to reassert control of the area’s oil deposits from Kurdish fighters , who seized . . .

  7. China curbs oil product exports to North Korea, bans condensate

    #oilwire - #China slapped fresh sanctions on #North #Korea , curbing some oil product exports to the country , after U . S . President #DonaldTrump ordered new sanctions this week . China halted the outbound shipment of condensate and #liquefiednaturalgas to #NorthKorea from Saturday , and will limit exports of refined oil products from Oct . 1 , the Ministry of Commerce said in a statement published late . . .

  8. Brent rises to eight-month high as OPEC and Russia say cuts wo...

    #oilwire - #Brent #crude rose to the highest in more than seven months after #OPEC and #Russia said they were well on the way to clearing a global glut , while traders eyed the potential for supply disruption from the #Kurdish independence vote . #Futures rose as much as 1 . 4% in #London to the highest since Feb . 2 . The OPEC-led group implemented more than 100% of its agreed cuts last month and fuel . . .

  9. OPEC deal extension would benefit Russia, finance minister says

    #oilwire - #Russia would benefit from extending the accord with #OPEC to limit #oil #production . Russia , whose largest single source of tax revenue is oil , is working with the Organization of Petroleum Exporting Countries to eliminate a #global #supply glut and support prices . Siluanov is not directly involved in negotiations with the cartel , which are handled by Energy Minister Alexander Novak . . . .

  10. Mexico says world's largest oil hedge has been completed

    #oilwire - #Mexico has completed its annual #oil #hedge for 2018 , which will lock in an average export price of $46/bbl of crude , Deputy Finance Minister Vanessa Rubio said . In addition to the put options bought on the market , a larger #OilRevenueStabilizationFund , with the help of the central bank’s exchange-rate surplus , will help guarantee the price . " We have completed it and we’re assured . . .