Oil is set for its first monthly decline since October as signs that U.S. supply is expanding offset OPEC’s production curbs. Futures lost 0.5 percent in New York and are Continue Reading
Brent crude oil prices fell around 5 percent from their early January peak as rising U.S. drilling activity offset efforts by OPEC and other producers to cut output in an Continue Reading
Crude prices edged lower Monday as investors weighed growing U.S. output against cutbacks by major oil producers. U.S. crude for March delivery fell 54 cents, or 1%, to $52.63 a Continue Reading
Oil traded near $53 a barrel after drilling in the U.S. climbed to the highest in more than a year, countering OPEC’s efforts to clear a supply glut. Futures were Continue Reading
OPEC appears to have persuaded investors that it’s making good on promised production cuts. Money managers are the most optimistic on West Texas Intermediate oil prices in at least a Continue Reading
Analysts are raising their oil price forecasts for the first time in five months, even as they continue to see a plethora of risks for this market. Members of the Continue Reading
In just thirteen words, a U.S. judge has summed up the problem with almost everything that’s happened since Donald Trump became US President: “I think the government hasn’t had a Continue Reading
A Wall Street Journal survey of 15 investment banks finds cautious optimism among oil watchers. The monthly survey is a good barometer for market sentiment, as shifts in price forecasts Continue Reading
Ten days into his presidency, Donald Trump’s policies and rhetoric have produced a political reaction in Baghdad that could hamper the war against the self-proclaimed Islamic State (IS) group and Continue Reading
An oilfield worker walks next to pipelines at PDVSA’s Jose Antonio Anzoategui industrial complex in the state of Anzoategui, Venezuela, April 15, 2015. REUTERS/Carlos Garcia Rawlins/File Photo PDVSA’s new senior Continue Reading
Venezuela’s president creates an executive vice president post and names new vice presidents to lead PDVSA in what he described as a shake-up of the state oil company. CARACAS, Jan Continue Reading
Australian energy company Melbana said Monday it was anticipating drilling success closer to home in New Zealand while keeping its eye on Cuban reserves. Melbana, which rebranded itself last year Continue Reading
A senior U.S. lawmaker unveiled a legislative plan on Monday to scrap a rule devised under the 2010 Dodd-Frank financial reform law requiring publicly-traded mining, oil and gas companies to Continue Reading
Some people who study climate change believe that addressing it later — when economic growth has made humanity wealthier — would be better than taking drastic measures immediately. Now, though, Continue Reading
U.S. President Donald Trump’s proposed tariff on Mexican goods has the country’s oil industry considering just how much it needs the American market. A 20 percent border tax to build Continue Reading
Halliburton advises affected workers not to come to the U.S. Oil-services giant Halliburton Co. told employees to stay put. Another global oil company is reconsidering whether to place a crude Continue Reading
For years the oil industry has appealed to the executive branch and courts to de-fang a U.S. rule forcing Exxon Mobil Corp. , Chevron Corp. and other producers to disclose Continue Reading
When U.S. President Donald Trump signed orders to revive two controversial energy pipeline projects this week, he pledged to require new pipelines to use American-made steel, a gesture to workers Continue Reading
Russian oil company Gazprom Neft said its production from a field in Arctic waters more than doubled from levels reported in 2015. The company said total production from the Prirazlomnaya Continue Reading
Oil markets mostly ignored the glum forecast from BP that the world is facing a long-term oil glut that won’t disappear for 50 years. Now that is a forecast and Continue Reading
Royal Dutch Shell Plc, looking to pare debt swollen by last year’s acquisition of BG Group Plc, accelerated its drive to shed assets on Tuesday by agreeing to the sale Continue Reading
Oil traded near $53 a barrel after drilling in the U.S. climbed to the highest in more than a year, countering OPEC’s efforts to clear a supply glut. Futures were Continue Reading
Oil prices extended declines on Monday, dragged down by signs of growing output in the United States that would partly offset production cuts by OPEC and other producers. London Brent Continue Reading
The International Energy Agency (IEA) does not expects oil demand to peak any time soon due to rising consumption in developing economies, Director Fatih Birol said on Monday. Birol also Continue Reading
OPEC oil output is set to fall by 900,000 barrels per day (bpd) this month, a company that tracks OPEC supply said on Friday, pointing to a strong start by Continue Reading
Lukoil PJSC is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners, according to the Russian energy company’s regional head. Continue Reading
Saudi Aramco , the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, Continue Reading
Just a few months after oil prices began to crash from its US$100 level in 2014, BP’s chief executive Bob Dudley warned the industry that it needed “to prepare for Continue Reading
In an ironic decision, Saudi Arabia’s Muslim rulers, leading anti-Communists of the Cold War, may be adopting the economic management model of the atheist Communist Party of China. But rulers Continue Reading
OPEC appears to have persuaded investors that it’s making good on promised production cuts. Money managers are the most optimistic on West Texas Intermediate oil prices in at least a Continue Reading
Saudi Aramco , the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, Continue Reading
Donald Trump’s vow to pull the US out of the Paris climate change accord could be thwarted by his pick for secretary of state, Rex Tillerson, according to a member Continue Reading
Big oil companies and smaller U.S. upstarts are plotting sharply divergent paths as they plan spending for 2017 after a modest recovery in crude prices. While shale-oil drillers are boldly Continue Reading
Lukoil, Russia’s No.2 oil producer, hopes to reach a decision on developing two new oilfields in Iran and wants to expand its operations further in the Middle East this year, Continue Reading
US President Donald Trump said Friday ahead of his first conversation with Russian President Vladimir Putin since taking office that it was too soon to know whether to continue US Continue Reading
Oil futures eased on Friday, with strong drilling activity around the world, especially in the U.S., weighing on the market. Light, sweet crude for March delivery settled down 61 cents, Continue Reading
Crude oil prices retraced steps Friday on reports of a downturn measured in the U.S. economy and uncertainty over the nuances of OPEC’s managed decline. Members of the Organization of Continue Reading
Oil headed for a second weekly increase as OPEC and other producing nations continued with output cuts to reduce bloated global inventories and stabilize the market. Front-month futures rose 0.4 Continue Reading
Oil prices are falling on Friday in volatile trading session after having see-sawed on the usual headlines regarding OPEC compliance and U.S. production figures (Click to enlarge) Friday, January 27, Continue Reading
Yemen has roughly three months supply of wheat left to draw from, leaving the country exposed to serious disruption as a central bank crisis cuts food imports and starvation deepens, Continue Reading
Iran has said it may cancel its high-profile, US$7-billion ‘peace pipeline’ project with Pakistan over lengthy construction delays, with would deprive energy-starved Pakistan of the some 22 million cubic meters Continue Reading
The external audit of the oil reserves of Saudi Aramco ahead of its planned IPO has confirmed that Saudi Arabia’s oil giant has more than 261 billion barrels of reserves, Continue Reading
Iran’s crude oil and gas condensate exports are expected to rise to about 2.2 million barrels per day in February, thanks to a shipment to Indonesia – the first since Continue Reading
State oil giant Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing Continue Reading
A UK High Court yesterday ruled that two Niger Delta communities devastated by oil spills cannot pursue their case against Shell in the United Kingdom for oil spills that occurred Continue Reading
Angola’s state-held oil firm Sonangol plans to load 1.51 million barrels per day in March under its finalized exports schedule, down from plans to export 1.62 million bpd in February, Continue Reading
A Nigerian court has ordered Royal Dutch Shell Plc and Eni SpA to cede control of a jointly owned oil license to the government amid an investigation into how they Continue Reading
Transparency is a top priority for a Lebanese government looking to bring bidders back to its offshore oil and gas reserves, the energy minister said. Lebanon this week filed a Continue Reading
A U.S. energy regulator filed his letter of resignation on Thursday. And with that letter, he may have just brought federal decisions on multibillion-dollar natural gas pipelines to a halt. Continue Reading
The pace of big Chinese takeovers abroad is slowing as buyers contend with rules tightening the flow of money out of the country and increased government scrutiny at home and Continue Reading
