Page 4 - Commodity Arbitrage News Today

Buyers of liquefied natural gas (LNG) from the United States are expected to cancel up to five cargoes for loading in March, half the volumes that were cancelled in February, trade sources said on Thursday.

Nigeria's state oil firm NNPC is in talks to raise around $1 billion in a prepayment with trading firms to refurbish its largest refining complex at Port Harcourt, seven sources familiar with the discussions said.

Top oil exporter Saudi Arabia has cut supplies of February-loading crude for some Asian buyer by up to a quarter while meeting requirements of at least four others, several refinery and trade sources with knowledge of the matter said on Wednesday.

By Reuters Staff 1 Min Read LONDON (Reuters) - Global oil demand is set to recover by 6 to 6.5 million barrels per day in 2021, Vitol CEO Russel Hardy told an industry event on Wednesday. Hardy said that in Europe, demand is unlikely to start rising before April, as restrictions to control the spread of the coronavirus limit mobility across the continent. Reporting by Ahmad Ghaddar; editing by Jason Neely

Top oil exporter Saudi Arabia has cut supplies of February-loading crude for some Asian buyer by up to a quarter while meeting requirements of at least four others, several refinery and trade sources with knowledge of the matter said on Wednesday.

Top oil exporter Saudi Arabia has cut supplies of February-loading crude for some Asian buyer by up to a quarter while meeting requirements of at least four others, several refinery and trade sources with knowledge of the matter said on Wednesday.

3 Min Read LONDON (Reuters) - Angola has cut the number of oil cargoes that it will ship to Chinese state firms to pay down debt to Beijing as it seeks to renegotiate repayment terms to deal with the crippling impact of the coronavirus, three sources familiar with the matter said. Angola said this week it had asked for G20 debt relief and was in advanced talks with some countries importing its oil on adjusting financing facilities, but expects no further debt overhaul to be needed beyond this. ...

3 Min Read LONDON (Reuters) - Saudi Arabia’s voluntary oil production cut is expected to bring the oil market into deficit for most of 2021 even as new lockdowns to contain the spread of the coronavirus batter oil demand, analysts say. FILE PHOTO: General view of Saudi Aramcos Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo Saudi Arabia, the world’s biggest oil exporter, surprised the market on Jan. 5 with a voluntary output cuts of ...

Nigeria's state oil firm NNPC is in talks to raise around $1 billion in a prepayment with trading firms to refurbish its largest refining complex at Port Harcourt, seven sources familiar with the discussions said.