U.S. drillers add rigs for 5th consecutive week: Baker Hughes Iran seeking export boost to 2.35 million b/d in coming months Oil climbed to the highest level in three months Continue Reading
Oil investors’ bullish bets on last week’s OPEC meeting paid off. While most analysts weren’t expecting a deal, money managers increased wagers on rising prices by the most since January Continue Reading
Natural gas prices fell on Thursday, as expectations that cooler weather is approaching outweighed a bullish inventory report. The U.S. Energy Information Administration reported stockpiles rose by 49 billion cubic Continue Reading
Market reaction to OPEC production offer extends into third day against a backdrop of more supplies coming to an economic showing only modest signs of growth. File photo by Monika Continue Reading
If you ever find yourself at a cocktail party with a bunch of oil executives, one phrase is a guaranteed mood-killer: “reserve replacement.” Not merely awkward to say, it is Continue Reading
An informal meeting of OPEC members took place Sept. 28 in Algeria, at which ministers… OPEC’s move to cut output might be too late. After pumping full tilt for the Continue Reading
The word oil is pictured on an oil bank at a recycling yard in London March 2, 2011. OPEC’s oil output is likely to reach its highest in recent history Continue Reading
Oil futures fell Friday as investors cashed in their recent gains and skepticism grew over a tentative agreement to cut production among members of the Organization of the Petroleum Exporting Continue Reading
OPEC headquarters in Vienna “You keep using that word. I do not think it means what you think it means.” The much heralded meeting of oil producers in Algeria led Continue Reading
Despite OPEC’s decision on Wednesday to scale back production, the oil trade bloc will produce oil at record rates in September, according to the results of an industry survey conducted Continue Reading
