News
2017-08 14
US Oil Output Is Set to Rise Analysts for Energy Aspectc forecat US crude output will creep up and that certain shale-oil producing regions may yield more than the market anticipates. In recent report analysts say that the averag
2017-08 11
Saudi Arabia favors New York for Aramco listing despite risks: Sources Saudi Arabia favors New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, peopl
2017-08 09
US natural gas output will grow more than expected next year, says Dept of Energy U.S. drillers will produce more natural gas next year than previously expected as exports rise and gas-fired plants generate more electricity, the Department of Energy reported on Tuesday. The departm
2017-08 07
Russia Could be expanding Oil Footprint in Venezuela Russias state-controlled oil producer Rosneft (ROSN.UK) made a $1B payment to Venezuelas oil firm PSVSA in April, according to Rosnefts 2Q earnings.Analysts say this may point to Russian oil companies
2017-08 04
Saudis and Russians are getting tough with oil exporters. Now they have to back up their words Top producers Saudi Arabia and Russia have signaled they are ready to get tough with oil producers who are still pumping more than they promised. But it remains to be seen how they will back their rhe
2017-08 02
OPEC wants oil above $50, but US shale producers won't play along Growth in U.S. oil production is slowing, but will continue to blunt OPECs efforts to cut supply and normalize global inventories, keeping benchmark prices capped at around $50 a barrel this quarter,
2017-07 31
US oil prices open above $50 for first time since May, but headwinds persist U.S. oil opened above $50 per barrel for the first time since late May on Monday, supported by strong fuel demand, but ongoing high supplies from producer club OPEC kept prices from rising further. U.
2017-07 28
API: Total US petroleum deliveries reach 10-year peak in June Total US petroleum deliveries reached an average of more than 20.3 million b/d in June-Their highest level for the month since 2007 and a 2.6% increase from June 2016, the American Petroleum Institure
2017-07 26
Sanctions Against Venezuela Could Lift Oil Prices Even Limited sanctions against Venezuela could disrupt the countrys oil output and result in higher crude prices, Barclays analysts say. A sharp disruption could raise oil prices at least $5 to $7 a ba
2017-07 24
OPEC moves to cap Nigerian oil output, boost compliance OPEC moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices. OPEC has agree
2017-07 21
Oil falls after report showing OPEC deal compliance falling in July Oil prices fell on Friday after a consultancy report forecast a rise in OPEC production for July despite the groups pledge to curb output, reigniting concerns the market will stay awash with crude. Pe
2017-07 19
Ecuador to Pump Over OPEC Oil Limit Ecuador has broken ranks with fellow OPEC members as the South American countrys energy minister said it could no longer hold up its end of an agreement to cut oil production. Ecuador is among OPECs s
2017-07 17
Unsustainable oil services demand to hit US shale boom-Halliburton The US shale drilling boom is likely to ease next year as demand on the industrys service sector is unsustainable, Halliburtons business development head said on Tuesday. The number of rigs drilling f
2017-07 14
Global Oil Demand to Keep Rising Next Year, OPEC Says World oil demand should grow by 1.26 million barrels a day in 2018, according to OPECS largest monthly report. Thatsslightly less than in the current year and broadly in line with the average growth s
2017-07 13
OPEC's oil output jumps again in June as the group struggles to end the crude glut OPECs oil production rose again in June, driven by increases in Libya and Nigeria and as top exporter Saudi Arabia reported it pumped more than it agreed to last year. The producer groups total output
2017-07 10
US crude oil rises 17 cents, settling at $44.40, after last week's sharp losses Oil prices rose modestly on Monday, but rising drilling activity in the United States and uncertainty over Libyan and Nigerian production cuts clouded the future supply outlook. Brent crude futures, t
2017-07 07
There's still a major reason why oil could jump back to $120, experts say Oil supply could easily be threatened by geopolitical risks, and such a disruption could cause oil prices to skyrocket, experts tell CNBC. Neil Dwane, global strategist and chief investment officer of
2017-07 05
GE completes buyout of Baker Hughes General Electric Co on Monday completed its buyout of Baker Hughes Inc, merging it with its own oil and gas equipment and services operatons to create the worlds second-largest oilfield service provid
2017-07 03
Baker Hughes Data Show Decline in U.S. Oil-rig Count for the First Time In 24 Weeks Baker Hughes (BHI) on Friday reported that the number of active U.S. rigs drilling for oil declined by two to 756 rigs this week. That marked only the second time the weekly oil-rig count fell this ye
2017-06 19
Oil Prices fall on further rise in US drilling, signs of slowing demand Oil prices fell early on Monday, weighed down by high supplies despite an OPEC-led initiative to cut production to tighten the market. Signs of faltering demand stocked weak sentiment, prompting price
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