Dry Bulk and Oil Segments

Russia’s Deputy Prime Minister Alexander Novak said on Wednesday that global oil demand was seen rising by between 1.0 million barrels per day and 1.5 million bpd this year, various news agencies reported. That compares with the latest expectations from the Organization of the Petroleum Exporting Countries for a rise of 1.45 million bpd. The ...

U.S. crude oil inventories fell last week as refiners continued to ramp up production, while gasoline and distillate stockpiles also dropped, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.3 million barrels to 433.6 million barrels in the week ended March 21, the EIA said, compared with analysts’ expectations in a Reuters ...

Executives from the world’s top commodity trading houses expect a well-supplied oil market this year, with concerns remaining over global demand growth. Oil prices could continue to soften as global supply rises, including with the Organization of Petroleum Exporting Countries and allies (OPEC+)’s plan to unwind voluntary output cuts in coming months, the executives said ...

Chevron has expressed an interest in hydrocarbon exploration off the island of Crete in the Mediterranean Sea, the second such expression for Greek energy by the U.S. oil producer this year, the Greek energy ministry said on Wednesday. Chevron’s new interest doubles the size of offshore blocks that will be made available for energy exploration ...

Middle East crude benchmarks Oman, Dubai and Murban rose for a second consecutive session on Wednesday as the oil market remained supported by supply fears. Oil prices edged higher on supply concerns with the U.S. stepping up efforts to limit Venezuelan and Iranian oil exports, while a bigger-than-expected drop in U.S. crude inventories also lent ...