OPEC is poised to extend oil-output cuts for the rest of the year when its members meet next month.
(Bloomberg) -- OPEC is poised to extend oil-output cuts for the rest of the year when its members meet next month to assess supply and demand for crude.
Production efficiency on the UK Continental Shelf improved for the sixth consecutive year in 2018.
Production efficiency on the UK Continental Shelf (UKCS) improved for the sixth consecutive year in 2018, reaching 75 percent.
Saudi Arabia is leaning toward extending OPEC cuts into the second half of 2019, potentially pitting the group against U.S. President Donald Trump's demand to keep prices down.
Oil climbed the most in a week after an industry report signaled a surprise decline in U.S. oil inventories and Russia confirmed it's reducing oil rig flanges gulf coast production in line with an agreement by OPEC and its allies.
Exxon Mobil Corporation added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year's production.
The first instinct of traders when they see President Trump tweeting on OPEC is to sell crude, according to Kingsview Asset Management.
Oil is stumbling after a 30 percent rally since Christmas Eve as speculation swirls over whether OPEC will heed Donald Trump's call to temper prices.
Canadian oil and gas BOP Blow Out Preventer repair company gulf coast Husky Energy has lowered its oil rig flanges gulf coast production forecast due to the Alberta government's mandated oil cuts.
"Our stakeholders are clearly tuning out," Saudi Aramco's CEO said.
(Bloomberg) -- The oil industry faces a "crisis of perception" and there’s a growing risk the financial community will turn against fossil fuels, the chief executive officer of Saudi Aramco said as the world’s largest oil producer prepares for its first foray into capital markets.
Analyst uses Hollywood-esque analogy to describe Tuesday's price movements.
West Texas Intermediate (WTI) crude oil reversed course Tuesday – albeit barely.
A day after losing more than three percent, the April WTI gained two cents to settle at $55.50 per barrel.
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