“We are not your enemy,” say South Korean truck drivers striking for minimum wage protection

UIWANG, South Korea, Dec. 5 (Reuters) – In five white tents outside the Uiwang container depot near Seoul, about 200 striking truck drivers huddle around gas heaters in an attempt to combat the bitter cold and government narrative that they are well-paid “labor aristocracy”. .” They are all too aware of the impact their strike … Read more

Oil prices rise after OPEC+ upholds production cut targets, China eases COVID restrictions

Brent gained 0.8% at 0430 GMT, WTI rose 0.9% OPEC+ maintains plans to cut production by 2 million barrels per day More Chinese cities are easing COVID-19 restrictions MELBOURNE, Dec 5 (Reuters) – Oil prices rose as much as 2% on Monday after OPEC+ countries kept their production targets stable ahead of a European Union … Read more

Chevron is waiting for Venezuelan oil shipments, but PDVSA wants payments

HOUSTON, Nov 28 (Reuters) – Chevron Corp (CVX.N) is aiming to receive shipments of Venezuelan oil as early as December, after the oil company received a US license to do so last week, but Caracas may not be so excited as US sanctions limit payments, people familiar with the matter said. The United States on … Read more

US Crude Turns Positive, Brent Offsets Losses on OPEC+ Rumors

US crude reverses losses on OPEC+ production cut rumors WTI is lowest since December 2021, Brent lowest since January 2022 Clashes in Shanghai as COVID protests flare up across China Nov 28 (Reuters) – Global oil benchmarks retreated from their lowest level in nearly a year on Monday, with US crude ending positive, buoyed by … Read more

The global oil market is signaling near-term weakness ahead of the EU ban on Russian oil

NEW YORK, Nov 28 (Reuters) – The global oil market is signaling a potential shift as traders and analysts worry about reduced crude oil demand and oversupply in the market in the coming months. After months of strength, crude futures are flirting with lows not seen all year as China, the largest oil consumer, introduces … Read more

Chevron can resume key role in Venezuela’s oil production and exports

WASHINGTON/HOUSTON, Nov 26 (Reuters) – Chevron Corp on Saturday secured a US permit allowing the second-largest US oil company to resume production in Venezuela and bring crude oil from the South American country to the United States. The decision grants expanded rights to the last major US oil company still operating in US-sanctioned Venezuela. However, … Read more

Tunisia to South Korea: A New Trade Route for Russian Naphtha

NEW DELHI, Nov 25 (Reuters) – South Korea has begun importing naphtha from Tunisia, which has in turn seen an increase in supplies from Russia, pointing to the unusual trade routes created following Western sanctions against Moscow because of the war in Ukraine. South Korea, the world’s largest importer of naphtha, bought 590,000 tons of … Read more

The US was preparing to allow Chevron to boost Venezuela’s oil production

US ready to allow oil giant to produce and sell Venezuelan oil Chevron owes billions in unpaid debts from the state-run PDVSA The US aims to siphon Venezuelan oil sales from shadow firms HOUSTON, Nov 23 (Reuters) – Chevron Corp could soon receive US approval to expand operations in Venezuela and resume oil trading once … Read more

Europe is rushing to fill up on Russian diesel before the ban kicks in

LONDON, Nov. 21 (Reuters) – European traders are scrambling to fill tanks in the region with Russian diesel before an EU ban takes effect in February as alternative sources remain limited. On February 5, the European Union will ban the import of Russian oil products, on which it heavily depends for its diesel. That follows … Read more

Oil Falls on China’s COVID Spike and Firmer Dollar

Brent and WTI prices fall after Friday’s gains Major Chinese cities are reporting record numbers of COVID-19 cases US Fed is not softening the fight against inflation, says the governor LONDON, Nov. 14 (Reuters) – Oil prices fell on Monday, dragged along by a firmer US dollar as rising coronavirus cases in China dashed hopes … Read more