OIL

10,863 articles

OPEC maintains 2019 crude oil demand forecast
Dec 12, 2018 (UPI)
In line with recent announcements of production cuts, non-OPEC oil supply growth in 2019 was revised down by 0.08 million barrels per day to stand at 2.16 milli...
Crude oil prices rise in sympathy with equities after Libya's force majeure
Dec 11, 2018 (UPI)
West Texas Intermediate front-month crude futures rose 2.3 percent to $52.17 per barrel as of 9:32 a.m. EST, while Brent front-month futures gained 1.5 percent ...
Total says Guyana drilling won't affect coral reefs, moves ahead with plans
Dec 11, 2018 (UPI)
The move comes just days after Brazil denied it a license for work on its offshore portion, and despite warnings from environment protection organizations. "The...
U.S. fuel prices hit low for year, may continue dropping
Dec 11, 2018 (UPI)
"Month-over-month, gas price averages have dropped double digits for every state. For some in the Great Lakes and Central states (Iowa, Kansas, Nebraska and Mis...
US energy chief in Baghdad as sanctions waiver runs out
Dec 11, 2018 (AFP)
He spoke during a visit by the largest-ever US trade delegation to Iraq for a two-day conference in Baghdad attended by more than 50 companies, most linked to p...
Crude oil price lower as U.S. exports rise, China-related tensions linger
Dec 10, 2018 (UPI)
West Texas Intermediate front-month futures fell 1.5 percent to $51.83 per barrel as of 10:16 a.m. EST, while Brent crude futures were 0.8 percent lower, at $61...
Russia deploys two bombers to Venezuela for exercises
Dec 10, 2018 (AFP)
General Vladimir Padrino, the Venezuelan defense minister, welcomed about 100 Russian pilots and other personnel after the two TU-160s and two other aircraft la...
Eni to develop newly found 185M barrels of light oil offshore Angola
Dec 10, 2018 (UPI)
"Eni is committed to developing this discovery," Eni's CEO Claudio Descalzi said. The company will also intensify exploration after this finding, he added. The ...
Oil thieves cause damaging spill in Rio river
Dec 10, 2018 (AFP)
Transpetro, a pipeline subsidiary of state oil company Petrobras, said it was "a victim of criminal acts through the stealing of oil and derivatives" and was co...
Mexican president outlines plan to revert oil 'disaster'
Dec 10, 2018 (UPI)
The new Dos Bocas refinery will produce 170,000 barrels of gasoline and 120,000 barrels of ultra low Sulphur diesel daily. This production will be equivalent to...
Arabs in talks with US for security pact, Saudis say
Dec 09, 2018 (AFP)
"The aim is to achieve security arrangements in the Middle East that can protect the region from external aggression... and strengthen relations between the Uni...
Brazil denies Total license to drill near Amazon mouth
Dec 08, 2018 (AFP)
Regulatory agency Ibama said the license was denied "due to a set of technical problems" identified during the application process. It explained that the decisi...
Crude oil prices rise on optimism of cuts, after U.S. draw report
Dec 07, 2018 (UPI)
West Texas Intermediate front-month futures traded as of 9:23 a.m. at $53.62 per barrel, or 4.1 percent higher, while Brent front-month futures traded at $62.83...
USGS identifies largest continuous oil and gas resource potential ever
Dec 07, 2018 (SPX)
"Christmas came a few weeks early this year," said U.S. Secretary of the Interior Ryan Zinke. "American strength flows from American energy, and as it turns out...
OPEC and non-OPEC nations agree on 1.2M barrel per day production cut
Dec 07, 2018 (UPI)
"In view of a growing imbalance between global oil supply and demand in 2019, [we] hereby decided to adjust the overall production by 1.2 million barrels per da...
Saudi Arabia struggling to secure OPEC, non OPEC oil production cuts
Dec 07, 2018 (UPI)
Several members of the Organization of Petroleum Exporting Countries declined to follow Saudi Arabia's attempt to lead, but an announcement of cutting at least ...
Mattis faces criticism after comments in Khashoggi case
Dec 07, 2018 (AFP)
The fresh scrutiny of Mattis, often portrayed at home and abroad as a trusted steward of US values during the turbulent times of President Donald Trump, comes o...
Crude lower on new China tensions, worries about OPEC meeting outcome
Dec 06, 2018 (UPI)
West Texas Intermediate front-month future prices fell 2.8 percent to $51.41 per barrel as of 8:25 a.m. EST, while Brent front-month prices dropped to $60.13, o...
Petrobras to expand domestic oil production by 10 percent in 2019
Dec 06, 2018 (UPI)
Oil production by Petrobras just within Brazil will expand to 2.3 million barrels next year from 2.1 million barrels this year, the company said Wednesday upon ...
Crude oil mixed as rise in stocks plays against expected OPEC cuts
Dec 05, 2018 (UPI)
West Texas Intermediate front-month futures traded 0.2 percent higher at $53.36 as of 9:10 a.m. EST, while Brent front-month futures traded at $61.97, or 0.2 pe...
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