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Abu Dhabi’s ADNOC Buys Its First Dubai Crude via Platts Pricing Process

OilPrice

Abu Dhabis national oil company ADNOC has made its first trades via the S&P Global Platts pricing process for Dubai crude oil, in a rare move for a Middle Eastern producer, traders told Reuters on Thursday.

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Oil Prices Rebound on Resilient Demand Signals

OilPrice

Crude oil prices inched higher after starting the week with sharp losses, amid reports of rebounding Asian imports and a weaker dollar that should stimulate stronger demand. At the time of writing Brent crude was trading at $70.05 per barrel, with West Texas Intermediate at $66.75 per barrel, as the U.S. Even an estimated U.S.

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China’s Oil Imports Could Rise as Newest Refinery Begins Trial Runs

OilPrice

Shandong Yulong Petrochemical, the newest refiner in China, is set to begin trial runs at a 200,000-barrels per day crude processing unit later this month, traders familiar with the facilitys plans told Reuters on Monday, in what could be a boost to Chinese crude oil imports in the coming months.

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Exxon bets big on natural gas in its eighth Guyana oil project

Oil & Gas 360º

(Oil Price) –ExxonMobils eighth oil project offshore Guyana will also be the biggest natural gas development of the Exxon-led consortium in the prolific Stabroek Block. Exxon and its partners in Guyanas oil projects, U.S. Hess Corp and CNOOC of China, expect to produce up to 1.5

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EIA Raises USA Crude Oil Production Forecasts

Rigzone: News

crude oil production, including lease condensate, averaging 13.59 According to its latest short term energy outlook, the EIA sees U.S. million barrels per day this year.

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Phillips 66 Plans to Reconfigure Refinery to Produce Renewable Fuels

NGT News

The plant would no longer produce fuels from crude oil but instead would make fuels from used cooking oil, fats, greases and soybean oils. Phillips 66, a diversified energy manufacturing and logistics company, says it plans to reconfigure its San Francisco refinery in Rodeo, Calif., to produce renewable fuels.

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OPEC+ Ships Record Fuel Volumes, Offsetting Some Crude Supply Curbs

OilPrice

The major oil producers in the Middle East are exporting record volumes of refined petroleum products, reducing the overall impact of their crude production cuts on the market, Reuters reports, citing flow-tracking data and analysts. This has likely negated part of the potential bullish

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