Oil futures fell on Wednesday, after a surprise rise in U.S. inventories wiped out the optimism that had built up the day before over the potential for the world’s largest Continue Reading
A change to the North Sea Brent crude oil futures contract will alter the way prices for Brent futures are compared to futures prices for West Texas Intermediate (WTI) crude Continue Reading
Oil prices rose above $30 a barrel Tuesday as traders speculated that large producers might be more willing to cut production, which could alleviate the global glut of crude. Light, Continue Reading
The World Bank has slashed its forecast for crude oil prices by $14 to $37 per barrel for 2016, it said on Tuesday, amid growing supply and weak demand prospects Continue Reading
“On Thursday and Friday last week, the price of Brent crude surged more than 15 percent higher in one of the largest two-day moves on record.” Headline 2: “On Thursday Continue Reading
Oil futures settled higher Tuesday after Iraq’s oil minister said Saudi Arabia and Russia were showing greater “flexibility” over production levels, lifting hopes an output cut could be forthcoming. NYMEX Continue Reading
Some of OPEC’s key players defended their strategy of keeping the taps wide open, saying Tuesday that they are bracing for low oil prices to continue—perhaps until the end of Continue Reading
Iraq’s Oil Minister Adel Abdel Mahdi talks to journalists as he arrives at his hotel ahead of a meeting of OPEC oil ministers in Vienna, Austria, December 2, 2015. OPEC Continue Reading
Italian energy company Saipem said it signed an agreement to explore the option for working in the opening Iranian oil and gas sector. Saipem, a subsidiary of Italian energy company Continue Reading
Iran is pushing to find new ways to extract and export its vast natural-gas reserves, including developing facilities to liquefy the commodity and ship it to Europe in two years Continue Reading
