Oil prices rose on Friday (June 2) amid bullish sentiment following the passage of a US debt ceiling bill in Washington, while markets weighed the likelihood of price-supportive Opec+ production cuts over the weekend.

Oil prices rise as Congress approves US debt ceiling bill

Hong Leong Investment Bank (HLIB) Research has maintained its “sell” rating on Velesto Energy Bhd at 23 sen, with an unchanged target price (TP) of 19 sen, after Velesto announced that it had received a job win for the provision of jack-up drilling rigs for Vestigo Petroleum with a total contract value of US$10.9 million (RM50.04 million).

HLIB Research says Velesto's valuations have become inflated

Opec+ will be grappling with a divided oil market when it meets this weekend.

Opec+ faces oil market torn by demand rebound and recession fear

Oil prices rose on Thursday, reversing earlier losses, as a potential pause in US interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism about further fuel demand growth in the world's biggest oil consumer.

Oil rises on potential US rate hike pause, debt bill passing

OPEC has not invited Reuters or Bloomberg news agencies to report on ministerial meetings in Vienna this weekend to discuss future oil policy, according to reporters, Bloomberg and an OPEC source on Wednesday (May 31).

OPEC has not invited Reuters, Bloomberg to report on weekend policy meets

Oil prices fell on Wednesday (May 31) on a stronger US dollar and as weak data from top oil importer China raised demand fears.

Oil falls on weak China data, stronger US dollar

Indonesia has renewed its threat to take back Shell's stake in the gas-rich Masela block if it fails to sell it by next year, according to a senior government official, who confirmed Malaysia's state-run Petronas was a potential buyer.

Indonesia presses Shell to expedite Masela project exit

Oil fell by nearly 2% on Tuesday as concerns about the US debt ceiling pact cooled the market's risk-on sentiment and mixed messages from major producers clouded the supply outlook ahead of their meeting this weekend.

Oil falls 2% on US debt deal struggles, Opec+ talks uncertainty

SINGAPORE (May 30): China's independent oil refiners are ramping up fuel oil imports to process into gasoline and diesel amid robust refining margins, as ongoing cargo inspections at refining hub Shandong have cut off supplies of lower-priced feedstock bitumen blend.

China's fuel oil imports soar as inspections curb bitumen blend intake

Hengyuan Refining Co Bhd posted a third quarterly loss of RM120.54 million in the first quarter ended March 31, 2023 (1QFY2023), amid lower sales volume due to scheduled plant maintenance.

Hengyuan Refining posts third straight quarterly loss

India’s Oil and Natural Gas Corp aims to invest 1 trillion rupees (RM55.7 billion) by 2030 in a bid to balance its fossil fuel-heavy energy portfolio with green projects.

India’s top oil explorer plans US$12b green energy spend

Oil prices were steady on Monday (May 29) after US leaders reached a tentative debt ceiling deal, possibly averting a default in the world's largest economy and oil consumer, but concerns about further interest rate hikes capped gains.

Oil steady after US debt deal but rate hike worries linger

KUALA LUMPUR (May 29): Petroliam Nasional Bhd (Petronas) has denied speculation over a merger between its indirect unit Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) and Sapura Energy Bhd.

Petronas denies speculation on merger between MHB, Sapura Energy

Malaysian state oil firm Petroliam Nasional Bhd (Petronas) said on Saturday (May 27) an anti-corruption probe into the firm's dealings involving a RM399 million project had not found any wrongdoing by the company.

Petronas says MACC found no wrongdoing by the firm

Most Asian currencies, stocks advance as US debt bill approved

CGS-CIMB lifts the construction and materials sector to ‘overweight’ from ‘neutral’

Slower US job, wage gains expected in May

'Relentless' heatwaves scorch southern China, test power grids

Now seen as an AI stock, SoftBank is set for its best week in three years

Chanel adds new Hong Kong retail space as tourists return

Debt holders of Brazilian retailer Americanas to rebuff recovery plan

US imposes sanctions on companies tied to Sudan forces as fighting rages

PwC contracts frozen by US$191b Australian pension fund

Malaysia’s economic growth to moderate to 4.5% in 2023, says IMF

Panasonic Malaysia, Affin Hwang Investment, Velesto Energy, Green Packet, Top Builders Capital, Star Media, Citaglobal, AME Elite, SCIB, UP, Meta Bright, Top Builders, Kimlun and Synergy House

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