Oil prices settle lower, but tally a gain of 4% for the week

Oil futures finished with a loss on Friday, easing back a day after climbing to a four-month high - but prices still posted a weekly gain of 4%, buoyed by a drop in U.S. crude inventories and a stronger demand forecast from the International Energy Agency. 


 
Energy & Utilities Roundup: Market Talk

Read about the U.S. rig count, Encavis, Kazatomprom Galp Energia and more in the latest Market Talks covering Energy and Utilities. 


 
Asia's Renewable-Energy Transition Could Take Longer Than Expected

Despite global moves toward reducing greenhouse-gas emissions, the transition to renewable energy from fossil fuels is likely to take longer in Asia than initially expected, according to an analysis released at a Tokyo conference. 


 
IEA Slightly Raises Oil-Demand Growth View But Cuts Supply Forecast

The International Energy Agency lifted its forecast for oil-demand growth this year on an improved outlook in the U.S. and increased bunkering, while it cut estimates for global supply on lower output expectations from OPEC+. 


 
Shell to Slow Pace of Carbon-Emission Cuts

Anglo-Dutch energy heavyweight said it now targets a 15%-20% reduction by 2030 in the net carbon intensity of the energy products it sells. 


 
Weekly U.S. Crude Oil Supplies Fall by 1.5 Million Barrels

Oil inventories fell by 1.5 million barrels to 447 million barrels in the week ended March 8 as refineries continued to raise their capacity usage. 


 
E.ON to Increase Investments in Europe

E.ON said that it would invest EUR42 billion in the period to 2028 in Europe, with a majority planned for Germany, and added that it anticipated its earnings this year would normalize. 


 
OPEC Holds Demand View Steady, Raises 2024 Economic Forecast

OPEC left its estimates for global oil-demand growth unchanged, but raised its economic forecast for this year further amid falling inflation and anticipated interest-rate cuts. 


 
EQT and Equitrans Midstream to Combine in Big Natural-Gas Deal

The all-stock transaction will reunite EQT with its former pipeline business. 


 
Saudi Aramco Hikes Dividend, Adjusts Spending

Saudi Arabia's national oil company raised its dividend payouts for last year after it achieved its second-highest ever net profit and said investment plans to 2028 would be reduced by an abandoned plan to boost production.


(END) Dow Jones Newswires

03-18-24 0015ET