Oil Slips Further as Focus on OPEC Mounts
U.S. crude, gasoline inventories rise unexpectedly as Brent-WTI spread nears widest margin in three years. Oil prices recorded their largest one-day drop in two weeks on Thursday, with expectations building that…
Oil Falls, OPEC Supply Worries
Oil benchmarks fell on Wednesday after an unexpected build in U.S. crude and gasoline inventories despite strong demand, and as traders weighed the possibility of an increase in OPEC crude output to cover any shortfalls in supply from Iran and Venezuela.U.S.
Oil Falls, Market Wary of OPEC Commitment
Brent, U.S. crude drop on expectations of higher OPEC output. Oil fell on Wednesday, under pressure from a potential increase in OPEC crude output to cool the market's recent rally and cover any shortfalls in supply from Iran and Venezuela.
Houthis Attack Saudi Oil Tanker
An attack on a Saudi tanker by Yemen's Houthis will not hit oil supplies, Saudi Arabia's energy minister said on Wednesday, after the Iran-allied group said it had targeted a warship in response to an air strike that killed civilians.
Congo Seeks Debt Relief From Trading Houses
IMF pushing Congo to renegotiate debt; loans primarily came from Trafigura, Glencore. Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2…
Venezuela Arrests Ex-oil Bosses
Venezuelan authorities on Thursday arrested two once-powerful officials who had run the oil ministry and state energy company PDVSA as part of a deepening industry purge also seen as a power play by leftist President Nicolas Maduro.
Venezuela Arrests Head of PDVSA's Bariven Unit
The head of Venezuelan oil company PDVSA's subsidiary Bariven was arrested this week, according to two sources and an internal message seen by Reuters, as a graft investigation in the OPEC member swells. Francisco Jimenez…
Big Oil Heads to Rio for Deepwater Auction
Brazil will auction eight blocks in its coveted deepwater oil region on Friday, a prospect that has lured top executives from the world's biggest oil companies to Rio de Janeiro for the bidding round. The oil…
Oil Falls Below $56 on Signs of Higher Output
Oil fell more than $1 a barrel to below $56 on Monday as a rise in U.S. drilling and higher OPEC output put the brakes on a rally that helped prices to register their biggest third-quarter gain in 13 years. U.S.
Oil Firms as Gulf Refineries Restart
Hurricane Harvey's impact on oil industry slowly fading. Brent oil prices firmed on Thursday, hovering near 3-1/2-month highs as U.S. refiners restarting after Tropical Storm Harvey increased their crude processing and the U.S. dollar declined.
Bombs target oil pipeline in Iraq's Kirkuk
Four bombs went off on Saturday near a minor pipeline from an oilfield close to the northern Iraqi city of Kirkuk, security and oil industry sources said. The pipeline delivers crude from the Bai Hassan oilfield to a degassing station in Kirkuk…
Colombia's Cano Limon Oilfield Stops Production After Attacks
Crude production at Colombia's Cano Limon oilfield was halted on Friday after a series of pipeline attacks by leftist rebels prevented operator Occidental Petroleum Corp from moving oil to port, oil industry sources said.
Senator Urges Obama Admin to Detail Oil Swaps with Mexico
One of the U.S. Senate's top advocates for lifting the ban on domestic crude exports urged the Commerce Department on Thursday to disclose whether any oil swaps with Mexico have actually been finalized after the agency approved the transactions in August.
Nigeria Arrests Oil Tycoon
Nigeria has arrested the chairman of a local oil firm, a security official said on Tuesday, as part of a widening graft investigation in Africa's biggest petroleum producer that has also netted former oil minister Diezani Alison-Madueke.
CNOOC Drilling off Myanmar: Report
China's flagship deepsea oil rig Haiyang Shiyou No. 981 is drilling offshore Myanmar in the Andaman Sea, tackling the deepest exploration well it has undertaken so far, according to a report by the rig's owner, state energy group CNOOC.
Saudi Pipeline Alight After Shots Fired
A small fire erupted on a gas pipeline in Saudi Arabia's Eastern Province on Tuesday after unidentified assailants shot at a security patrol, Saudi security and oil industry sources said. The pipeline has been…
Iraq's Southern Exports Unaffected by Conflict
Southern exports average almost 2.60 million bpd; Exports close to record rate seen in May. Lack of Kirkuk northern exports limits overall supply. Iraq's oil exports from its southern terminals on the Gulf, far from the fighting in its north…
Price Fall Hastens Western Oil Majors Retreat
Seven oil majors ran annual cash deficit of $55 bln; falling oil price to force new wave of asset sales. This year's fall in energy prices is hastening the decline of big oil, as the seven Western majors sell-off assets…
Singapore Fuel Oil Stocks Fall
Asia's fuel oil cash differential for benchmark 180-centistoke (cst) was at a discount of $6.50 a tonne for the third day in a row on Wednesday thanks to low demand and high supplies. Although Singapore's fuel…
Nigerian Oil Unions Strike, Output so far Unaffected
Nigeria's oil unions began an indefinite strike on Monday, although crude production in Africa's top producer is not likely to be affected, oil industry sources said. The Petroleum and Natural Gas Senior Staff…
