American drillers boost rig count; stockpiles forecast to fall Output reduction deal helped to stabilize crude market: Putin Oil fell amid doubts that prolonged cuts by OPEC and its allies Continue Reading
Oil prices fell on Wednesday, as rising output from Libya added to concerns about increasing U.S. production which is undermining OPEC-led production cuts aimed at tightening the market. Brent crude Continue Reading
Oil futures fell Tuesday, amid persistent doubts about whether OPEC’s decision to extend production cuts last week will be enough to alleviate the global supply glut. U.S. crude futures settled Continue Reading
From giant companies like Exxon Mobil Corp. to OPEC members such as Saudi Arabia, oil producers say their industry will enjoy decades of growth as they feed the energy needs Continue Reading
The most traded commodity of the 21st century, oil is an essential factor to both oil-producing and oil-importing nations’ financial stature, and consequently it remains intrinsically linked to politics. Yet Continue Reading
After the nine-month extension of the OPEC deal, there is a growing consensus that oil might bounce around in the $50s and $60s for the rest of the year. But Continue Reading
Deep-water drilling costs are coming down, Wood Mackenzie says Oil at $50 seen sustaining some deep-water projects by 2018 Reports of deep-sea drilling’s demise in a world of sub-$100 oil Continue Reading
Venezuela’s President Nicolas Maduro shows a copy of a country’s constitution during an official ceremony of a Campaign Command to support reforms to the constitution in Caracas, Venezuela May 29, Continue Reading
By July, Iran could sign off on its first post-sanctions contract tied to the development of one of its largest oil fields, the country’s oil minister said. A report from Continue Reading
The Nigerian Senate approved on a motion to suspend a concession agreement for the Port Harcourt refinery with a subsidiary of Eni on Tuesday because the deal allegedly lacked transparency. Continue Reading
