Oil Prices Dip as Investors Consider Iran Supply Concerns, Venezuelan Exports
Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was at $58.78 a barrel, down 34 cents, or 0.58%."Lower European equity markets and lack of additional supply disruptions is moderately weighing on oil prices…
OPEC Oil Output Falls in December After Low Supply From Iran, Venezuela
OPEC's oil output fell in December due to lower supply from Iran and Venezuela, which offset an OPEC+ agreement to raise production for the month, a Reuters survey found on Friday.The Organization of the Petroleum Exporting Countries pumped 28.40 million barrels per day last month, down 100,000 bpd from November's revised total, the survey showed, with Iran posting the largest decline.OPEC+, comprising OPEC and allies including Russia, has slowed the pace of its monthly output increases amid concerns of a supply glut.
WinGD Launches Global Service
WinGD has launched its global service offer, expanding the original parts supply, in-service support and technical advisory it currently delivers during the engine warranty period across the entire vessel lifecycle. Global Service by WinGD will support ship operators by maximizing the profit-making potential of their engines and vessels, maintaining optimal efficiency and extending the compliant lifetime of their assets.Global Service by WinGD complements the full lifecycle support already offered to global WinGD users through digital optimization…
A Predicted Stronger US Hurricane Season Could Increase Oil Supply Outages
An expected stronger hurricane season than average raises the risk of weather-related production outages in the U.S. oil industry, the U.S. Energy Information Administration said on Tuesday.WHY IT MATTERSA large portion of U.S. oil production and the bulk of the country's refineries are in areas prone to hurricanes along the U.S. Gulf Coast.That concentration means more than 1 million barrels per day of U.S. refining capacity, which is roughly 5% of daily U.S.
