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U.S. oil rig count at 1,592 sets record on drilling in Bakken to Permian

HOUSTON (Bloomberg) -- Rigs targeting oil in the U.S. surged to a record as producers accelerated drilling in some of the nations biggest crude plays, from North Dakotas Bakken formation to the Permian basin of Texas and New Mexico. Oil rig......【More】

2014-09-15

Saudi Arabia’s Naimi says OPEC meeting can wait as oil slumps

KUWAIT (Bloomberg) -- Saudi Arabia, the worlds biggest crude exporter, said OPEC doesnt need to meet on possible measures to check falling oil prices, according to the kingdoms oil minister Ali Al-Naimi. Prices always fluctuate and this is......【More】

2014-09-12

WTI crude tumbles to an eight-month low at $91.67

NEW YORK (Bloomberg) -- West Texas Intermediate oil fell to an eight-month low after U.S. crude stockpiles fell less than analysts projected in a government report. Brent dropped to the least since April 2013. Crude inventories fell 972,000......【More】

2014-09-11

Brent crude falls to lowest in 17 months on ample supply

LONDON (Bloomberg) -- Brent crude dropped to the lowest level in almost 17 months, narrowing its premium over West Texas Intermediate, on concern global supply growth will outpace demand. The European benchmark settled below $100 for the fi......【More】

2014-09-10

Linc Energy to drill 3 wells in Australia’s Arckaringa shale

BRISBANE, Queensland -- Linc Energy has commenced operations as part of its three well drilling program in the Arckaringa basin in South Australia. The three well locations have been selected following a lengthy and ongoing field appraisal......【More】

2014-09-05

Libya’s former rebels to keep oil flowing amid Islamist surge

BENGHAZI (Bloomberg) -- The group that controls Libyas largest oil port pledged to work with the government to keep crude flowing to international markets and defend oilfields against any advance by Islamist militias that seized Tripoli, th......【More】

2014-09-04

Lukoil said to have found oil offshore Ghana

MOSCOW (Bloomberg) -- OAO Lukoil, Russias second-largest oil producer, has made a discovery at Ghanas offshore Cape Three points project, according to a person with direct knowledge of the development. The company has 90 days to evaluate th......【More】

2014-09-03

WTI crude falls, ending longest rise in six months, Brent steady

NEW YORK (Bloomberg) -- West Texas Intermediate fell, snapping the longest rising streak since February as OPECs oil production was seen increasing to the highest level in a year. Brent was steady in London. Futures dropped as much as 0.3%......【More】

2014-09-02

Australia panel advises weaker clean-energy plan

A government-appointed panel gave Australian Prime Minister Tony Abbott two options to cut emissions more cheaply: either scrap or weaken its main clean- energy program. Accepting either would imperil A$20 billion ($19 billion) of existing......【More】

2014-09-01

U.S. oil imports fell to 19-year low for July, API report shows

WASHINGTON, D.C. (Bloomberg) -- U.S. imports of crude and fuel in July dropped to the lowest level for the month in 19 years as domestic production rose, the American Petroleum Institute said. Imports slid to 9.06 MMbpd, the least for July......【More】

2014-08-22