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Oil market likely to be in surplus next year, Morgan Stanley says

The crude oil market is tight now but expected to surplus next year; Brent prices forecasted to decline to mid-high $70s range, according to Morgan Stanley.

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Oil drops as investors look past Biden exit, focus on weak fundamentals

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Ecuador and Chilean subsidiary ENAP renegotiate oil agreement

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China's Sinopec reports first-half crude throughput up only 0.1%

Sinopec reported stable first-half crude throughput, processing 126.69 million metric tons, with gasoline and aviation fuel output up, but diesel production down due to weak demand.

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Oil settles at one-month low on Gaza ceasefire hopes

Oil prices dropped significantly amid geopolitical tensions and a strengthened dollar. A potential Gaza ceasefire and dwindling U.S. rig counts influenced the market outlook.