Six years after BP spill, U.S. sets new offshore oil safety rules
The Obama administration on Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf Continue Reading
BP Shareholders Reject Oil Giant’s Pay Policy
Following the company’s annual meeting Thursday, the oil giant said 59% of the votes cast were against the company’s executive compensation decisions for 2015. That included a roughly 20% increase Continue Reading
Oil Prices Fall Ahead of Producer Meeting – WSJ
Oil prices fell on Thursday amid market skepticism about the outcome of a meeting between major producers slated for this weekend. Heavyweight suppliers, including Saudi Arabia and Russia, are gathering Continue Reading
Oil Extends Losses as U.S. Stockpiles Rise Before Freeze Meeting
Oil extended losses as rising crude stockpiles kept supplies at the highest level in more than eight decades before major producers meet in Doha to discuss freezing output. Futures lost Continue Reading
Oil investors load up on near-month Brent amid tightening supplies
Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, in this January 25, 2016 file Continue Reading
IEA Sees Oil Oversupply Almost Gone in Second Half on Shale Drop
Production outside the Organization of Petroleum Exporting Countries will decline by the most since 1992 as the U.S. shale oil boom falters. Surplus to dwindle to 200,000 barrels a day Continue Reading
OPEC trims 2016 oil demand growth, says its output rises slightly
OPEC on Wednesday predicted global demand for its crude oil will be less than previously thought in 2016 as consumption slows down, increasing the excess supply on the market this Continue Reading
Oil Can Top $50 a Barrel With Freeze Deal, Bank of America Says
Oil prices can climb above $50 a barrel if an output freeze deal is struck in Doha this weekend, according to Bank of America Corp. “A flat output profile for Continue Reading
OPEC demand forecast drags oil prices lower
A three-day rally for crude oil prices came to an end Wednesday after OPEC said in its monthly report for April that demand was expected to falter. The Organization of Continue Reading
Oil rally ends as OPEC predicts negative pressure on demand
A three-day rally for crude oil prices came to an end Wednesday after OPEC said in its monthly report for April that demand was expected to falter. The Organization of Continue Reading