News
2017-09 29
Oil mixed but set for weekly gain Oil prices were mixed on Friday, but both Brent and U.S. crude were set to chalk up another weekly gain as investors bet that efforts to cut a global glut are working and that the demand outlook is im
2017-09 27
Iraq aims to boost crude exports, market share in Asia--Singapore(Platts) Iraq is willing to raise its export volumes to Asia in the coming years as the Persian Gulf producer aims to sharply expand its market share in the East, shifting its focus further and further away fr
2017-09 25
DJ Russia Energy Minster Says OPEC, Non-OPEC Producers Discussing Monitoring Exports OPEC memebers and producers outside the group are discussing a proposal to monitor crude oil exporters but that would not replace output quotas, Russian energy minister Alexander Novak said Friday. We
2017-09 22
US crude ticks up 11 cents, settling at $50.66 for third straight weekly gain Oil prices rose on Friday, hovering close to their highest levels in months, as major producers may wait until January before deciding whether to extend their output curbs beyond the first quarter. Ru
2017-09 20
US crude ticks down 14 cents, settling at $50.55, ahead of OPEC meeting on output cuts Oil prices were largely steady on Thursday ahead of a meeting of oil producers that could extend production limits aimed at clearing a glut that has depressed the market for more than three years. Bre
2017-09 18
Six companies buy oil from US emergency crude reserve Six companies bought 14 MMbbl of oil from the US Strategic Petroleum Reserve in a sale required by law to help fund medical research and the federal government, said the Department of Energy on Thursda
2017-09 15
US crude jumps to more than 6-week closing high of $49.89, as demand-driven rally continues Oil prices rose on Thursday, a day after the International Energy Agency forecast the market would continue to tighten as fuel demand increased. U.S. West Texas Intermdediate crude hit a nearly four-m
2017-09 13
Oil industry now worried about peak demand not peak production, says strategist Oil prices are being weighed down by concerns we have reached the limits of demand which is crippling valuations more than other factors such as the threat from electric cars and national policies gea
2017-09 11
Oil jumps 1.2%, settling at $48.07, as US refineries restart, Saudis discuss extending cuts Oil prices were mixed on Monday, with Hurricane Irmas pounding of Florida raising demand fears, while U.S. refinery restarts and Saudi cut extension talks gave upward pressure. Benchmark U.S. West Tex
2017-09 08
Exxon CEO: We're making 'good progress' on Harvey recovery and ready for Irma Exxon Mobil is making progress restarting the nations second largest refinery in the wake of Hurricane Harvey and is preparing to keep Florida supplied with gasoline as Hurricane Irma takes aim, Exxon
2017-09 06
US crude continues post-Harvey rally, rising 1% to 4-week high of $49.16 Oil prices rose on Wednesday as strong global refining margins and the reopening of U.S. Gulf Coast refineries provided a more bullish outlook after sharp drops due to Storm Harvey. U.S. West Texas In
2017-09 04
OPEC Oil Output Slips From 2017 High On Renewed Libyan Outages Opec oil output has fallen this month by 170,000 barrels per day (bpd) from a 2017 high, a Reuters survey found, as renewed unrest cut supplies in Libya and other memebers stepped up compliance with a
2017-09 01
US crude ticks up 6 cents, settling at $47.29, as some Gulf refineries restart in Harvey's wake Oil prices recouped some losses from earlier in the day on Friday as some refineries shut by Hurricane Harvey along the U.S. Gulf Coast began to restart, calming fears over fuel shortages. Harvey, dow
2017-08 30
US crude falls to 5-week low, settling at $46.44, as Harvey shutters more refineries Crude prices fell to the lowest level in over a month on Tuesday after a hurricane ripped through the heart of the U.S. oil industry, shutting down some 13 percent of refining capacity in the United S
2017-08 28
This OPEC country has just witnessed historic political change, but who's really in charge? Angola, OPEC member and Africas second largest oil producer, has just witnessed historic political change. The country has elected its first new president in 38 years, but despite this political miles
2017-08 25
US crude rises 44 cents, settling at $47.87, as US Gulf Coast braces for hurricane Oil prices rose on Friday as the dollar fell and as U.S. petroleum industry braced for Hurricane Harvey, which could become the biggest storm to hit the U.S. mainland in more than a decade. Harvey bec
2017-08 23
Oil rises 1.2%, settling at $48.41, after another weekly drop in US crude stockpiles Oil prices rose on Wednesday after U.S. crude inventories declined for the eighth straight week and a storm approached the Gulf Coast with the potential to disrupt oil and refined products output. Bre
2017-08 21
Maersk agrees to sell oil unit to Total in $7.45 bln deal Total is buying Maersk Oil in a $7.45 billion deal which the French oil major said would boost its earnings and cash flow, and bolster its dividend prospects. Danish company A.P. Moller-Maersk is sell
2017-08 18
Shale will beat OPEC as U.S. oil thrives at $40, Citigroup says U.S. shale oil will prevail over OPEC as the two rivals compete in an oversupplied world market. Citigroup Inc.s head of research said. The Organization of Petroleum Exporting Countries and its allies
2017-08 16
US crude settles at $46.78 per barrel, down 1.6%, despite a big inventories drawdown Crude inventories fell by 8.95 million barrels in the last week, nearly three times analysts expectations for a decrease of 3.1 million barrels. West Texas Intermediate futures for September delivery
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