Hess producing more despite taking a loss
Even as it reported a loss for the first quarter of the year, U.S. energy company Hess Corp. said it was producing more from its U.S. assets than in late Continue Reading
New oil discovery in Gulf of Mexico
Otto Energy Ltd., a company with headquarters in Australia, said it made an oil discovery in the Gulf of Mexico that was productive enough to keep drilling. The company said Continue Reading
Venezuela Needs Oil’s Rally More Than Anyone as Economy Teeters
Few countries need oil’s rally to last more than Venezuela, where the economy’s expected to shrink 8 percent this year and a lack of petrodollars has seen shops run short Continue Reading
Putin’s Decade-Old Dream Realized as Russia to Price Its Own Oil
Russian President Vladimir Putin is on the verge of realizing a decade-old dream: Russian oil priced in Russia. The nation’s largest commodity exchange , whose chairman is Putin ally Igor Continue Reading
Oil prices jump on weak dollar, strong investor appetite
Crude oil futures rose half a dollar in early Asian trading on Wednesday and remained near 2016 highs on the back of strong investor sentiment and a weak dollar, although Continue Reading
Oil Prices Rise on Weaker Dollar
Oil prices rose Tuesday as the dollar fell and traders looked ahead to a Federal Reserve policy meeting this week. However, concerns about persistent market oversupply are expected to put Continue Reading
Oil futures rise on weaker dollar, new cash inflows
Crude oil futures rose on Tuesday, pushed up by a weaker dollar and a flood of new cash into the market, but analysts warned that fundamentals remain weak as a Continue Reading
Can Oil Continue To Rally Like This?
The collapse of the rig count and depressed drilling activity has already knocked about 700,000 barrels per day of oil production offline. • But the rig count could bottom out Continue Reading
Has the Oil Price Rally Gone Too Far?
Oil speculators are growing more confident that prices are gaining ground on the back of rising demand and shrinking supply. U.S. gasoline demand is at a record high for this Continue Reading
Qatar to Scrap Fuel Subsidies in May as Decade of Surplus Ends
Qatar will scrap gasoline and diesel subsidies next month as the world’s richest nation per capita is set to plunge into deficit this year after more than a decade of Continue Reading