OIL

10,863 articles

Oil prices inch lower, though supply-side fears linger
Jun 13, 2018 (UPI)
The American Petroleum Institute reported U.S. commercial crude oil inventories increased by 833,000 barrels last week. Gains in U.S. storage are usually suppor...
Surveys set for Australian offshore gas field
Jun 13, 2018 (UPI)
Ocean Energy said it was awarded a contract by Woodside to provide data on the deepwater field off the Burrup Peninsula in Western Australia. The company said i...
Nobody speaks for OPEC alone, Iran's oil minister says
Jun 13, 2018 (UPI)
Members of the Organization of Petroleum Exporting Countries meet next week in Vienna for the regular meeting. On the agenda is the fate of the group's coordina...
IEA: Nobody wins in a market with oil supply deficits
Jun 13, 2018 (UPI)
The Organization of Petroleum Exporting Countries in its monthly market report, published Tuesday, expressed uncertainty about global oil demand in the second h...
EU applauds Azeri gas tie to Turkey
Jun 13, 2018 (UPI)
Turkish President Recep Tayyip Erdogan on Tuesday hosted his Azeri, Serbian and Ukrainian counterparts in a ceremony for the inauguration of the 1,150-mile Tran...
Yergin: Permian oil production growth beats the whole world
Jun 13, 2018 (UPI)
In its latest drilling productivity report, the U.S. Energy Information Administration expects Permian oil production will average 3.27 million barrels per day ...
High gas prices will shorten, not cancel, U.S. summer road trips
Jun 13, 2018 (UPI)
"Motorists can expect to spend at least $250 more on gas this season, but that won't stop them from traveling," AAA spokeswoman Jeanette Casselano said in a sta...
Economic recovery for OPEC-member Angola shaky
Jun 12, 2018 (UPI)
IMF data show Angola's economy moving in positive direction, with gross domestic product indicating slow recovery from recession in 2016, growth of 1.0 percent ...
Economic data overshadows Trump-Kim meeting for oil
Jun 12, 2018 (UPI)
U.S. President Donald Trump made a historic handshake in Singapore with North Korean leader Kim Jong Un, triggering what could be the beginning of a long effort...
Equinor sees break-evens slashed for Johan Castberg
Jun 12, 2018 (UPI)
The Norwegian Parliament approved the company's plans for development of the Barents Sea field on Monday and it awaits formal approval from the Norwegian Minist...
APICORP: Venezuela is the biggest risk for OPEC
Jun 12, 2018 (UPI)
The Arab Petroleum Investments Corp., a regional investment bank, published data Tuesday on the effort steered by the Organization of Petroleum Exporting Countr...
High gas prices influencing consumer habits
Jun 12, 2018 (UPI)
Motor club AAA lists a national average retail price of $2.92 for a gallon of regular unleaded on Tuesday, a fraction of a percent lower than last week, but 58 ...
Gazprom Neft reports record dividend yield
Jun 12, 2018 (UPI)
The board of directors at Russia's third-largest oil producer approved a payout of $1.15 billion in dividends, or about $0.24 per share, 40 percent higher than ...
Data confirms Cuban oil prospects
Jun 12, 2018 (UPI)
Melbana, which changed its name from MEO Australia to reflect a Caribbean flair, said a new study of the reserves in the Zapato prospect inside so-called Block ...
French farmers block refineries over palm oil imports
Jun 11, 2018 (AFP)
Energy giant Total wants to import up to 300,000 tons a year of palm oil, which environmental advocates say has caused massive deforestation chiefly in southeas...
Iraq accuses other oil producers of exceeding quotas
Jun 11, 2018 (AFP)
"Producers who are or are not members of OPEC have not respected the set target... and the price of petrol has not reached the desired level," said Oil Minister...
Total extends gas agreement in Algeria
Jun 11, 2018 (UPI)
Total joined Spanish energy company Repsol, the Algerian agency for hydrocarbon resources and state-owned exploration and production company Sonatrach in signin...
U.S. sees LNG as a security option for Seoul
Jun 11, 2018 (UPI)
U.S. Deputy Assistant Secretary of State for Energy Diplomacy Sandra Oudkirk hosted South Korea Minister for Foreign Affairs and Energy Kwon Sei-joong to discus...
Higher-for-longer oil prices could hurt the global economy
Jun 11, 2018 (UPI)
The Organization for Economic Cooperation and Development said global economic expansion should be around 4 percent for the year, on par with the long-term aver...
G7 hangover drags the price of oil lower
Jun 11, 2018 (UPI)
Testy post-conference comments from U.S. officials were met with frustration from Canadian and European leaders. Apart from public comments, the communiqué its...
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