Exxon announces a decline in upstream profits for the fourth quarter
Exxon Mobil, the U.S. oil giant, said on Wednesday that lower crude?oil?prices may reduce its fourth-quarter?earnings? by $800 million to $1 billion. The price of oil fell 9.2% in the three-month period ending December 31 as geopolitical risk was outweighed by concerns over supply and tariffs. Brent crude futures lost?about 19% by 2025. This is the largest annual percentage decline since 2020, and the longest streak of losses ever recorded. U.S. West Texas Intermediate Crude logged an annual decline of nearly 20%.
Palm oil futures are up on the back of gains in rival oils and ringgit weakness
The price of Malaysian palm oils futures rose on Wednesday as a result of the strength of soyoil in Dalian and Chicago. Weakness?in ringgit also added to support. By midday, the benchmark contract for?palm?oil delivery in March on the Bursa Derivatives Exchange had gained 14 ringgit or 0.35% to 4,004 Ringgit ($988.64). A Kuala Lumpur based trader stated that "Bursa CPO opened slightly?higher" by tracking spread movements against competing oilseeds, while adding that the lackluster performance of rival oilseeds…
Palm oil futures are falling, and will likely lose money annually in 2025
Malaysian palm futures dropped on Wednesday, and are headed to a loss by 2025 - a volatile year plagued by geopolitical uncertainty and tariffs. The traders are 'optimistic' that the festive season and the decline in production in 'Indonesia' will support prices. The benchmark March palm oil contract on the Bursa Derivatives exchange lost 19 ringgit or 0.47% to 4,051 Ringgit ($998.52) per metric ton at the midday break. Futures prices have fallen by 8.93% so far in 2025. It had gained almost 20% last year.
Palm oil gains weekly, reaches two-week peak on Dalian strength
Malaysian palm oils futures reached their highest level in two weeks on Friday, and recorded their first weekly increase?in three as Dalian oil boosted the?market. The benchmark March palm oil contract on Bursa Derivatives Exchange rose 50 ringgit or 1.24% to 4,087 Ringgit ($1,010.38) per metric ton. This is its highest closing rate since December 9. The contract increased by?4.66% in the past week. A Kuala Lumpur based trader reported that the market had posted a strong rise…
Palm oil prices rise by more than 2% due to stronger export data and bargain buying
Malaysian palm oil futures closed more than 2% higher on Monday. This was supported by stronger export data, bargain-buying and stronger crude oil prices. The benchmark contract for palm oil delivery in March on the Bursa Derivatives Market gained 82 Ringgit or 2.1% to $3,987 ringgit (US$978.16) per metric ton. Anilkumar bagani, the head of commodity research for Sunvin Group in Mumbai, explained that prices rose due to bargain-buying, stable Dalian and Chicago contracts, and a rise in energy prices.
Palm oil prices rise on stronger export data and bargain buying
Malaysian palm futures rose on Monday as a result of stronger export data, bargain-buying, and higher crude oil prices. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for March delivery had gained 58 Ringgit (1.49%) to $3,963 Ringgit ($972.04 per metric ton). Intertek Testing Services, a cargo surveyor, estimated that the exports of Malaysian 'palm oil products' for December 1-20 were up 2.4% compared to a month ago. AmSpec 'Agri Malaysia is expected to release its export estimates later today.
MPOC expects crude palm oil to trade at between 3,800 and 4,100 Ringgit in January.
The Malaysian Palm Oil Council announced on Friday that the price of crude palm oil is expected to range between 3,800- 4,100 ringgit (932- $1005) during January. This will be due to low production levels in the first quarter and increased demand for the Lunar New Year (Lunar New Year) as well as the Ramadan holidays. Malaysian palm oil exports will rise to 16,2 million metric tonnes in 2026. Production is forecast to fall to 19,7 million tons, as oil palm trees are expected to enter a "resting phase" following a strong performance in 2025.
Wall St. inches up as investors focus on policy outlook; Oracle slips
Wall Street's major indexes rose slightly in volatile trading Wednesday as investors sought clues about the future of interest rates. However, caution was still evident following reports that Oracle's plans for data centers were facing funding hurdles. Oracle shares fell by 2.8% following a report that Blue Owl Capital, the company's biggest data center partner, said it would not support a $10 billion contract for its next facility. Risk-taking has been plagued by concerns that the technology sector will turn to debt to achieve its AI goals.
Wall St futures rise as investors look at more data and geopolitics
U.S. Stock Index Futures climbed a little higher on Wednesday, as investors waited for more economic data in order to determine the direction of monetary policy. They also monitored geopolitical tensions that were escalating in Venezuela. This pushed oil prices up. Later in the day, a number of "influential" Federal Reserve officials including Governor Christopher Waller and New York's President John Williams are expected to provide more clarity about monetary policy. The U.S. equity market had a volatile session Tuesday.
Baker Hughes reports that US drillers have cut back on oil and gas rigs a second time in the last three weeks.
Baker Hughes, a leading energy services company, said that U.S. firms cut back on the number of natural gas and oil rigs for a second consecutive week in its closely watched report published Friday. The oil and natural gas rig count fell to 548, the lowest level since November 26, a good indicator of future production. Baker Hughes reported that oil rigs increased by one this week to 414, the highest since November 21. Gas rigs dropped by two to 127. Oil and gas rig counts?declined about 5% by 2024, and 20% by 2023. This is because lower U.S.
Carnelian, a buyout firm, raises eyebrows by trying to sell multiple assets in the energy sector.
Carnelian Energy Capital is selling six of its North American oil-and-gas production investments. This comes at a time when private equity firms are under increasing pressure to return more cash to investors and increase their exits. The move, which represents most of Carnelian's oil and gas producing companies, and approximately 40% of its total investments, has raised eyebrows in the industry because traditionally, buyout firms space out their sale efforts so as to avoid exhausting the buyer demand.
Palm oil reaches two-week record on stronger Chicago soyoil
The price of Malaysian palm oils futures reached its highest level for two weeks on February 2, tracking the firmer Chicago soyoil. A weaker ringgit added to support. The benchmark palm-oil contract for February delivery at the Bursa Derivatives Exchange rose 63 ringgit or 1.54% to 4,157 Ringgit ($1,006.54) per metric ton. CPO opened higher on the morning session, thanks to news that China had purchased U.S. soya beans. The sentiment was also lifted due to higher crude oil prices, said David Ng.
Oil India reports a 43% drop in its quarterly profit due to low selling prices and rising expenses
Oil India, an Indian exploration company, reported on Friday a 43% drop in its second-quarter profits. This was due to a decline in crude realisations (the price at which the product is sold), while increased expenses also affected margins. The profit of the state-owned company, excluding earnings from joint ventures or overseas operations, dropped to 10.44 billion rupees (118.8 millions dollars) for the third quarter ending September 30 from 18.34 trillion rupees in last year's period.
Chevron aims to increase cash flow by 10% annually through 2030 and cut costs even more.
Chevron announced on Wednesday its plans to increase oil and gas production and grow free cash flow annually by more than 10 percent through 2030, all while reducing costs and capital spending. Chevron announced its new guidance on Wednesday at their investor day. The company has been working to improve efficiency following a restructuring that took place earlier this year, which included the layoff of up to 20 percent of employees or approximately 8,000 people. After a delay of a year, the company completed its $55 billion purchase of Hess.
Chevron targets 10% cash flow growth annually through 2030 and higher cost reduction
Chevron announced on Wednesday its plans to increase free cash flow and oil and gas production by over 10% per year through 2030, and reduce costs and capital expenditures. Chevron announced new guidance on its investor day as part of an effort to improve the efficiency of the company following a restructuring earlier this year that included layoffs. After a delay of a year, the company completed its acquisition of Hess for $55 billion in July. This had prevented it to give long-term financial advice until now.
Palm oil prices fall for the fourth consecutive week due to a combination of rising stocks and softer crude
Malaysian palm futures recorded a fourth successive weekly decline on the Friday amid expectations that stocks will be higher at the end of October and a recent drop in crude oil prices. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange lost 39 ringgit or 0.94% to finish at 4,110 Ringgit ($973.01 a metric tonne). The contract dropped 2.31% in the last week. Sandeep Singh is the director of The Farm Trade in Kuala Lumpur, a consulting and trading company.
ConocoPhillips lifts dividend, raises output forecast after profit beat
ConocoPhillips increased its quarterly dividend on Thursday and raised its full-year production projection after posting earnings that were above expectations in the third quarter, thanks to lower costs and higher output which offset weaker oil price. In premarket trading, shares of the United States' largest independent oil and natural gas producer rose by 1.5%. The company's efforts to streamline operations, cut costs and save more than $1 billion…
BP Beats Profit Expectations in Q3, No Update on Castrol Lubricants Sale
Oil major BP reported a smaller than expected fall in third-quarter underlying profit on Tuesday as a strong performance at all divisions led by refining helped to offset the impact of lower crude prices.However, there was no update on the closely-watched sale process for its Castrol lubricants unit, the centre-piece of its $20 billion asset-sale drive to slash its debt pile.After an ill-fated foray into renewables under previous CEO Bernard Looney…
Coterra Energy misses quarterly profit, raises 2025 production forecast
Coterra Energy, an oil and gas company, missed Wall Street's expectations for the third quarter profit on Monday as lower oil prices offset an increase in production. However, it raised its production forecast. In after-market trading, shares of the company fell 3% to $23.66. U.S. president Donald Trump's policies on trade fueled uncertainty in the energy sector, as trade tensions escalating threatened to slow down global economic growth and weaken demand for energy.
SLB launches AI product to focus on digital sales growth
SLB, a technology company in the energy sector, launched on Monday a new artificial-intelligence tool to automate workflows and processes for companies looking to use AI to boost growth. SLB's Tela technology will be integrated into its portfolio of platforms and applications. Users will be able to interact with the system through a conversational interface. Tela agents are capable of working in conjunction with humans, or autonomously, to make decisions about things such as interpreting well logs or predicting drilling problems…