Kuwait and Saudi Arabia agreed to resume production at offshore Khafji oil field although no restart date was immediately available, Kuwait News Agency (Kuna) reported, saying Anas al-Saleh, Kuwait’s acting oil minister, told Kuwait’s Parliament that maintenance was planned first at the field. Source: News

Data from the US Energy Information Administration’s Weekly Petroleum Status Report show that US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, gained 2.3 million bbl during the week ended Mar. 25 from the previous week’s total. Source: News

Ineos AG, Rolle, Switzerland, has completed operational trials for the planned restart of a previously shuttered second manufacturing unit at its gas-cracking operations in Grangemouth, Scotland. Source: News

Light, sweet crude oil prices for May delivery dropped more than $1 on Mar. 29 on the New York market to settle above $38/bbl. It was the fifth consecutive session for prices to drop and the longest losing streak since February when prices plunged below $30/bbl. Source: News

Eni SPA has been awarded an exploration license for the Cape Three Points Block 4 in the Tano basin offshore Ghana. Source: News

Chevron Phillips Chemical Co. LP (CPCC) has reached final investment decision to expand the low-viscosity polyalphaolefins (PAO) capacity at its Cedar Bayou petrochemical complex in Baytown, Tex. Source: News