Crude stockpiles rising at U.S. futures delivery point; Saudi Arabia says oil market could shift to oversupply in Q4.Oil prices rose 1 percent on Thursday, following the U.S. stock market higher a day after Wall Street's biggest drop since 2011…
ConocoPhillips beat analysts' estimates for profit in the third quarter, as the world's largest independent oil and gas producer benefited from higher oil prices and a program of asset sales and technology-driven cost cuts.With oil prices rising steadily through the quarter…
OPEC signaled on Thursday it may have to return to oil production cuts as global inventories rise, in a statement that may further sour relations with U.S. President Donald Trump.The president has repeatedly lashed out at the Organization of the Petroleum Exporting Countries…
Saudi assurance on oil supplies, economic worries weigh as two China state refiners to skip Iran oil bookings for November. Oil prices jumped on Wednesday, rebounding after several days of weakness as a much bigger-than-expected drawdown in U…
Russian Energy Minister Alexander Novak said on Wednesday he was not aware of any decision by Italy's ENI to suspend its involvement in any Rosneft projects.Earlier on Wednesday, Interfax news agency reported that the two oil majors were discussing…
U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.Crude inventories rose by 6.3 million barrels in the week to Oct. 19, compared with analyst expectations for an increase of 3…
The Russian government may introduce licenses for fuel exports to tackle possible shortages on the domestic market and cool down prices, a source familiar with a meeting between the government and oil producers said on Wednesday.Earlier in the day…
Canadian energy company Enbridge Inc on Wednesday sought permission from U.S. energy regulators to put the remaining part of its Texas Eastern Appalachian Lease (TEAL) Phase 1 natural gas pipeline in Ohio into service.In a filing with the U…
Oil rose towards $77 a barrel on Wednesday after hitting a two-month low as the focus returned to looming U.S. sanctions on oil exporter Iran, although concern about a weaker demand outlook weighed.In a sign Iranian exports will drop further once the sanctions take effect on Nov…
Technical challenges could slow growth shale oil production in the next 12 to 18 months, the chief executive of Schlumberger NV, the world’s largest oilfield services provider, said on Tuesday.Paal Kibsgaard, CEO, was speaking at an investment conference in Riyadh…
Oil prices fell more than 2 percent on Tuesday after Saudi Arabia said it could supply more crude quickly if needed, reassuring investors ahead of U.S. sanctions on Iran's crude exports that start next month.Benchmark Brent crude oil dropped $2…
U.S. energy company Energy Transfer LP plans to start service on its Sunoco Mariner East 2 natural gas liquids pipeline in Pennsylvania during the fourth quarter of 2018, an analyst following the company said on Monday.Energy Transfer told analysts at Height Capital Markets in Washington…
Oil slipped below $80 a barrel on Monday as Saudi Arabia pledged to raise its crude production to a record, two weeks before U.S. sanctions potentially choke off Iranian crude supplies.Saudi Energy Minister Khalid al-Falih told Russia's TASS…
Growing demand from other countries for U.S. liquefied natural gas (LNG) means that the United States is not concerned about a decline in exports to China amid the trade dispute between the countries, a U.S. government official said on Monday…
U.S. drillers added oil rigs for a second week in a row this week, raising the rig count to the highest level since March 2015.Drillers added four oil rigs in the week to Oct. 19, bringing the total count to 873, General Electric Co's Baker…
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