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Oil rises to seven-month high as supply losses tame surplus

NEW YORK (Bloomberg) -- Oil hit a seven-month high on speculation that U.S. crude stockpiles declined last week while supply losses in Canada and Nigeria whittled away the global excess. West Texas Intermediate climbed as much as 1.5% in Ne......【More】

2016-05-18

Oil rises to six-month high as Goldman sees demand above output

NEW YORK (Bloomberg) -- Oil rose to a six-month high as Goldman Sachs Group Inc. said the market moved into a deficit earlier than expected following supply disruptions in Nigeria and an increase in demand. Futures climbed 3.3% in New York.......【More】

2016-05-17

The Oil & Gas Asset Clearinghouse expands into Mexico

HOUSTON -- OFSCap, LLC, has announced that its affiliate The Oil Gas Asset Clearinghouse is expanding its presence into Mexico. Clearinghouse and OFSCap will jointly offer advisory services through a concierge office in Mexico City dedicate......【More】

2016-05-16

Iran's speedy oil revival unlikely to mean change in OPEC stance

DUBAI (Bloomberg) -- Irans success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude rallying, analysts see no immediate need for action. O......【More】

2016-05-13

Oil rises after unexpected decline in U.S. crude stockpiles

NEW YORK (Bloomberg) -- Oil climbed after a government report showed that U.S. crude inventories unexpectedly declined. Futures rose as much as 3.3%. Crude stockpiles fell 3.41 MMbbl last week, the U.S. Energy Information Administration sai......【More】

2016-05-12

Stubborn natural gas supply imperils best U.S. rally in 14 years

NEW YORK (Bloomberg) -- Natural gas futures have soared since March on speculation that supplies are finally falling after a decade of gains. Production numbers tell a different story. Prices have gained about 30% from a 17-year low in Marc......【More】

2016-05-11

Petrobras asset sales unaffected by impeachment

RIO DE JANEIRO (Bloomberg) -- Political turmoil in Brazil shouldnt stop Petrobras from completing asset sales it has already opened up to bidders, according to one company vying for the state-controlled drillers Bauna offshore field. An imp......【More】

2016-05-10

Saudis' new oil boss seen chasing record output to stymie shale

RIYADH (Bloomberg) -- Saudi Arabia will probably keep producing crude at near-record levels under its newly appointed oil minister, Khalid Al-Falih, as the worlds largest exporter sticks with his predecessors policy of defending market shar......【More】

2016-05-09

Chesapeake Energy jumps as shale gas auction accelerates

OKLAHOMA CITY (Bloomberg) -- Chesapeake Energy Corp. surged after the shale gas explorer signed a deal to sell Oklahoma drilling rights to Newfield Exploration Co. for $470 million. The deal brings total asset sales announced so far this ye......【More】

2016-05-06

Petrobras to sell Argentina, Chile assets for $1.4 billion

RIO DE JANEIRO (Bloomberg) -- Petrobras has agreed to sell assets in Argentina and Chile for about $1.4 billion, as Brazils state-controlled oil producer looks to raise cash and focus on deepwater projects in Brazil. The Rio de Janeiro-base......【More】

2016-05-05