China’s Oil Giants Continue Output-Cutting Drive
Chinese crude oil output fell by 9.8 percent in September to 3.89 million bpd in continued efforts to rein in costs amid the persistent price rout. The total September output Continue Reading
Exxon boss, Saudi minister differ on oil supply outlook
Exxon Mobil’s boss Rex Tillerson and Saudi Arabia’s energy minister on Wednesday took opposing views on declining investment in the oil sector setting the stage for a possible major supply Continue Reading
Exxon CEO Doesn’t See Supply Shortage Pushing Up Oil Prices
Tillerson disagrees with Saudi Arabia about future supplies Exxon boss presents upbeat outlook for U.S. shale production The world’s largest publicly listed oil company says ample production from U.S. shale Continue Reading
Halliburton turns a profit
Oilfield services company Halliburton said Wednesday it turned a profit after a downturn in the industry characterized by its CEO as devastating. Halliburton said its cash flow topped $1 billion. Continue Reading
Is Russia Unleashing A ‘’Resource War’’ With This Recent Slate Of Deals?
Huge deals struck in both the energy and mining sectors this past week — with one rising nation at the hub of them all. Russia. Russian resource firms kicked off Continue Reading
Gazprom Feels The Pressure Of Low Gas Prices
Gloom and doom has been the dominant mood on international gas markets for a while now, and the latest news from Russia is likely to add fuel to the pessimism: Continue Reading
Oil Gains After API Reports Unexpected Fall In U.S. Crude Stocks
American crude oil supplies have plunged by 3.8 million barrels this week, according to the American Petroleum Institute (API) report released on Tuesday. This is a variance of almost 6 Continue Reading
Oil rises on U.S. crude inventory draw, falling Chinese output
Oil prices rose by around 1 percent on Wednesday, lifted by a report of a drop in U.S. crude inventories and declining production in China, while an upbeat OPEC statement Continue Reading
Oil Seen Stuck in $50 to $60 Range as Shale Blunts OPEC Action
IEA sees price impact from OPEC deal spurring U.S. production Oil majors focusing investment on most profitable projects The world should get used to oil prices between $50 and $60 Continue Reading
Big Oil to Start Spending Again After Two-Year Slump
LONDON—The prospect of rising oil prices has the global energy industry considering a strategy that has been unthinkable for much of a two-year-long market slump: Making new investments. Big oil Continue Reading