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Oil edges up on OPEC+ supply expectations

Oil prices on Wednesday rose, paring overnight losses a day ahead of a meeting of OPEC and its allies, with investors betting the producers will largely agree to extend their supply curbs into May.

Saudi to support OPEC+ oil cut extension

Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns, the Reuters news agency reported on Monday, citing a source briefed on the matter..

Total suspends Mozambique gas project

French energy company Total said it had postponed the restart of work at a liquified natural gas (LNG) project in Mozambique following an attack on a nearby town this week.

ADNOC deepens crude supply cuts to Asia

Abu Dhabi National Oil Company (ADNOC) has deepened crude oil supply cuts to Asian customers in June to 10-15% from 5-15% in May, one week ahead of an OPEC+ meeting.

BP sees 10% drop in overall emissions

BP Plc said on Monday that its greenhouse gas emissions dropped 10% to around 374 million tonnes of carbon dioxide equivalent in 2020 from its oil fields to its clients’ car exhausts.

Aramco to reduce spending as profit slumps

Oil giant Saudi Aramco is betting on an Asian-led rebound in energy demand this year after it reported a steep slide in net profit for 2020 on Sunday and cut down its spending plans.
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