World oil news today

Here are some of the latest news stories related to the oil industry:

Global Oil Prices

• Brent crude oil prices rose to $63.50 per barrel on Monday, up 1.2% from the previous day, amid concerns over supply disruptions in Libya and the Middle East. (Source: Reuters)
• West Texas Intermediate (WTI) crude oil prices also increased, trading at $59.50 per barrel, up 1.1% from the previous day. (Source: CNBC)

Oil Production and Supply

• Libya's National Oil Corporation (NOC) said on Monday that it had shut down several oil fields due to a blockade by protesters, which could lead to a reduction in the country's oil production. (Source: Bloomberg)
• The International Energy Agency (IEA) said on Monday that global oil supply is expected to fall by 1.2 million barrels per day (mb/d) in 2023 due to declining production in countries such as Venezuela and Iran. (Source: IEA)

Oil Demand and Consumption

• The IEA also said on Monday that global oil demand is expected to rise by 1.2 mb/d in 2023, driven by growth in countries such as China and India. (Source: IEA)
• The United States Energy Information Administration (EIA) said on Monday that U.S. oil consumption is expected to rise by 0.3% in 2023, driven by growth in the transportation sector. (Source: EIA)

Oil Industry News

• ExxonMobil said on Monday that it had discovered a new oil field in the Gulf of Mexico, which is expected to produce up to 100,000 barrels of oil per day. (Source: ExxonMobil)
• Royal Dutch Shell said on Monday that it had agreed to sell its stake in a Nigerian oil block to a local company, as part of its efforts to divest from certain assets. (Source: Shell)

Other News

• The United States and China have agreed to cooperate on oil and gas issues, including the development of liquefied natural gas (LNG) projects. (Source: Reuters)
• The European Union has imposed sanctions on several Russian oil companies and individuals over their involvement in the conflict in Ukraine. (Source: EU)