BP Profits Fall 40%
BP's profits fell sharply in the third quarter, hurt by lower oil prices, but strong refining operations helped the company beat expectations even after taking a one-off…
Oil Rises Toward $53 before US Inventory Report
Oil rose towards $53 a barrel on Wednesday ahead of a U.S. inventory report expected to show crude stocks dropped for a sixth week, although gains were capped by doubts…
Oil Rises on Libya Turmoil, OPEC Cut Extension
Armed protesters block 250,000 bpd of production in Libya; OPEC-led production cut expected to be extended into H2. Oil prices extended gains on Wednesday despite an increase in U.S.
Oil up on Russia-OPEC Hopes
Oil settled up on Friday on hopes Russia and OPEC will reach agreement at the weekend on market support initiatives to keep crude above $50 a barrel, although traders cautioned…
ABB Chairman Sees Oil Price Rebound in 2017
The price of oil has the potential to fall further this year but could rebound in 2017 on the back of a stronger global economy, the chairman of Swiss engineering group ABB told local television.
Goldman Sachs: Shale Drillers Add to Glut
Goldman Sachs has diagnosed a new reason for the sudden slump in energy industry sentiment this week: talk of agility, not agony, among leading U.S. shale oil producers…
Iran says Boosting Oil Exports Depends on Future Demand
A rise in Iran's crude oil exports once sanctions against it are lifted depends on future global oil demand and that should not further weaken oil prices, a senior Iranian oil official was quoted as saying.
The 2016 Commodity Story: Russell
If 2015 was the year in which the growing oversupply of key commodities led to a rout in prices, will 2016 bring the point of capitulation, leading to consolidation and the start of recovery?
OPEC: Low Prices Will End, Maybe Within One Year
OPEC doesn't have a target price, looking for fair rate; any U.S. decision to export crude will not impact oil prices (OPEC). Global crude oil prices at seven-year lows…
U.S. Shale Oil Output Will Be Less Resilient Than Gas: Kemp
U.S. natural gas production hit a new record in August, despite the deepening slump in gas prices and a fall in the number of rigs targeting gas formations. The failure…
US Shale Cash Markets Offer Hope amid Gloom
In shale strongholds of North Dakota and Texas, physical crude grades are trading at the highest premiums to futures prices in years, offering a glimmer of hope that a pickup in global oil markets might follow.
Derivitive Markets: Get used to cheap oil
Oil prices will stay low for years to come, derivatives markets say, keeping a lid on inflation and helping boost global growth. Oil has more than halved in value over the last year…
US Weekly Oil Rig Count Decline Slows
Energy firms pulled three rigs from U.S. oil fields this week, the smallest drop in five weeks, data showed on Friday, a sign the collapse in drilling is coming to an end…
US Oil Drillers Add Rigs in Permian and Bakken
Oil drillers added rigs in the Permian and Bakken shale basins this week, data showed on Friday, another sign that higher crude prices are coaxing producers back to the…
Saudi Oil Minister Holds Talks with US Energy Deputy
Saudi Oil Minister Ali al-Naimi met U.S. Deputy Energy Secretary Elizabeth Sherwood-Randall on Tuesday in Riyadh where they discussed oil markets, the official Saudi Press Agency (SPA) reported.
UAE: OPEC Won't Back Down
OPEC will not cut its oil output to support prices but expects higher-cost producers to do so, the United Arab Emirates energy minister insisted on Tuesday as oil plunged near six-year lows.
