Oil Slips on OPEC Deal Uncertainty
Oil prices slipped on Wednesday as doubts set in about Russia's willingness to substantially extend a deal among some of the world's biggest exporters to curb output to help tackle global oversupply and support prices. Brent crude futures were down 17 cents on the day at $63.44 a barrel by 1350 GMT, while U.S. light crude fell 28 cents to $57.71 a barrel.
South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal
A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters. CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong…
Oil Steady near $47 as Oversupply Concerns Weigh
Saudi Arabia moving out of its peak seasonal demand; U.S. shale output to fall to 4.55 mln bpd in August. Oil prices steadied near $47 a barrel on Tuesday as concerns over a glut of crude and refined fuel outweighed an expected cut in U.S. shale production and a probable further drawdown in U.S. crude inventories. Crude prices…