Rigzone Industry News

Oil fell for the first time in eight sessions as traders took stock of the outlook for worldwide demand, with China's reopening delivering a lift while other parts of the global economy slow.

Growing confidence in China's recovery and mounting evidence of cooling US inflation buoyed crude prices for a sixth day.

European oil majors' big bet on hydrogen as the transport fuel for the future is not so big in reality, according to a new study.

The price cap on Russian oil is costing the Kremlin $172 million a day, a Finnish researcher said.

Oil crept higher as broader risk-on sentiment helped traders overlook fears of tighter monetary policy from the Federal Reserve.

As many as 58 LNG cargoes were received by Orlen at the Lech Kaczynski terminal in 2022, a new record since the terminal started commercial operation.

Some volatility in the oil market is likely this week, according to Barani Krishnan, a senior commodities analyst at uk.Investing.com.

Oil posted a large loss the first week of trading in the new year as demand uncertainty continued to hang over the market.

Oil's losses deepened, with thin liquidity exacerbating sharp swings, as China's mounting death toll overshadowed the country's resolve to boost its economy.

Activity in the oil and gas sector continued growing in the fourth quarter of 2022 but economic uncertainty has led executives to lower their expectations.