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Offshore still cheaper than shale while oil sands struggle: Rystad

STAVANGER, Norway -- Offshore resources remain attractive for new production with a breakeven price within the range of $60-65/bbl, concludes Rystad Energys in-depth October study of more than 20,000 non-producing liquid fields. Offshore ho......【More】

2015-10-23

Crude oil declines as U.S. inventories grow most in six months

LONDON (Bloomberg) -- Oil fell after a government report showed U.S. crude inventories grew by the most in six months. West Texas Intermediate futures for December delivery declined below $45 for the first time since Oct. 2. Inventories exp......【More】

2015-10-22

Genel cuts 2015 oil output forecast on Iraq payment delays

LONDON (Bloomberg) -- Genel Energy Plc, an oil producer in Iraqi Kurdistan, reduced its output forecast for this year after suffering delays to payments for its exports. The London-based company said Tuesday it expects to pump 85,000 to 90,......【More】

2015-10-21

Oil bulls maintain momentum as rig cutbacks seen reducing glut

NEW YORK (Bloomberg) -- Hedge funds increased bullish oil wagers on speculation that falling investment will diminish the global supply glut. Money managers boosted their net-long position in West Texas Intermediate crude by 6.6% in the wee......【More】

2015-10-20

Oil extends losses as U.S. crude supplies surge most since April

MARK SHENK WASHINGTON, D.C. (Bloomberg) -- Oil extended losses after the biggest U.S. crude stockpile increase in six months bolstered speculation a global surplus will persist. Inventories climbed 7.56 MMbbl last week, the most since April......【More】

2015-10-16

Oil slide means ‘almost everything’ for sale as rout deepens

AARON CLARK and STEPHEN STAPCZYNSKI TOKYO (Bloomberg) -- More than $200 billion worth of oil and natural gas assets are for sale globally as companies come under renewed financial pressure from the prolonged commodity price rout, according......【More】

2015-10-15

Oil falls most in three weeks as OPEC crude production climbs

MARK SHENK and GRANT SMITH NEW YORK (Bloomberg) -- Oil dropped the most in three weeks after OPEC reported that its members pumped the most crude in three years. The Organization of Petroleum Exporting Countries produced 31.57 MMbopd last m......【More】

2015-10-14

House votes to lift U.S. oil export restrictions

WASHINGTON -- The House of Representatives has voted in favor of lifting 40-year-old restrictions on exporting U.S crude oil. The vote was welcomed by industry groups and representatives, but critics branded it a piece of meaningless politi......【More】

2015-10-13

GE, Statoil sign subsea exploration wellhead frame agreement

ABERDEEN, United Kingdom -- GE Oil Gas has been awarded a four-year framework agreement to provide wellhead equipment and associated services to Statoil with the option of two, two-year extensions. GE Oil Gas will provide its DWHC MS-700 SF......【More】

2015-09-14

Shale producers clobbered by oil rout face added Iran supply

NEW YORK (Bloomberg) -- Shale oil producers already awash in a supply glut face added crude as early as next year after an agreement to ease sanctions on Iran cleared a Senate obstacle. A Senate vote Thursday paved the way for President Bar......【More】

2015-09-11