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Shell Newsroom
Two news stories boost international oil prices, petrochina's Hong Kong stocks rose nearly 4%.
① Why did the usa announce sanctions on Iranian oil? ② What impact does OPEC+'s postponement of the production increase plan have on the crude oil product market?
Crude oil: Oil prices rise as the usa intensifies sanctions on Iran and OPEC+ makes progress towards delaying production resumption.
Crude oil prices saw the largest increase in over two weeks on Tuesday, as the usa announced additional sanctions on Iranian crude oil, and OPEC+ made progress toward further delaying production increases.
Update: WTI Crude Closes Up 2.7% as OPEC+ Seen Delaying Return of Production Cuts
Shell Announces Strategic Share Buy-Back Initiative
European Equities Traded in the US as American Depositary Receipts Rise in Tuesday Trading
Press Release: Edgewater Midstream Closes Acquisition of Refined Products Logistics Assets From Shell
OPEC+ Production Increase Likely to Be Postponed for Another Three Months – Commerzbank
Oil Trades Higher as OPEC+ Seen Delaying Return of Production Cuts to Market
Cold Weather-Driven Demand Spurs Natural Gas Weekly Gain
QatarEnergy Inks LNG Supply Deal With Shell for China
Qatar energy and Shell are collaborating to deliver 3 million tons of LNG to china annually.
Qatar Energy signed a long-term LNG cooperation agreement with Shell, supplying 3 million tons of LNG to Shell annually and shipping it directly to China, effective from January 2025; China is currently the largest LNG importing country, while Qatar is the third largest exporting country, having already exported 73 million tons of LNG this year.
One bad news for oil bulls: OPEC+ "no more".
OPEC's control over the oil market is increasingly weakening, and if no action is taken, the organization's control may completely disappear.
Afternoon crude oil analysis: Brent crude oil futures prices have increased slightly, and the oil field in Kazakhstan remains shut down...
Kazakhstan's Deputy Minister of Energy, Alibek Zhamauov, stated on December 2nd that due to maintenance reasons, Kazakhstan's Tengiz oil field with a production capacity of 0.6 million barrels per day is still partially shut down.
Oil Prices Hold Steady Ahead Of OPEC+ Meeting
OPEC's crude oil production capacity has expanded for two consecutive months, and the rhetoric of "overcapacity" is sweeping the oil market.
In November, the daily production increased by 0.12 million barrels; under pressure from allies, Iraq has been reducing production for three consecutive months.
International oil prices are fluctuating within a range, and the retail price limit of refined oil may face being stranded.
Gelonghui, December 3 | According to Zhuochuang news, during this period, the domestic reference crude oil product change rate showed a gradual downward trend after turning from negative to positive.
OPEC's Power Is Waning. That's Bad for Oil Bulls. -- Barrons.com
Shell Initiates Share Buy-Back Program to Boost Value
Oil Prices Rise, Buoyed by Upbeat China Data Ahead of Postponed OPEC+ Meeting
Shell, QatarEnergy Team up for Long-term LNG Supply Deal to China