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Oil extends loss as U.S. and Iran signal return to negotiations

NEW YORK and LONDON (Bloomberg) -- Oil extended losses below $60/bbl on the prospect of easing tensions between the U.S. and OPEC member Iran, and as Gulf of Mexico producers began resuming operations after a storm. Futures fell as much as......【More】

2019-07-17

Tropical storm races toward Louisiana, curbing oil output

BOSTON (Bloomberg) -- Tropical Storm Barry is barreling toward Louisiana and could hit the coastline as a hurricane by Saturday, causing close to $1 billion in damage and worsening flooding in New Orleans. The system, which was about 90 mi......【More】

2019-07-12

Oil rides to seven-week high on Gulf storm, tightening U.S. supply

NEW YORK (Bloomberg) -- Oil rode a tide of bullish news to its highest price in almost two months as a potential hurricane roiled the Gulf of Mexico and U.S. crude inventories dropped. Futures advanced 4.5% to the highest settlement since M......【More】

2019-07-11

Mexico’s moratorium on oil auctions gives rival Brazil an edge

RIO DE JANIERO and MEXICO CITY (Bloomberg) -- Mexicos moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. Mexico President Andres Manuel Lopez Obrador has halted new bid ro......【More】

2019-07-10

Saudi Arabia, Kuwait make breakthrough in neutral zone oil talks

KUWAIT and LONDON (Bloomberg) -- Saudi Arabia and Kuwait are the closest in years to restoring oil output from the neutral zone shared by the neighboring nations after making a breakthrough in recent talks, according to people familiar with......【More】

2019-07-05

Lukoil says its making headway in the Caspian Sea

MOSCOW -- Lukoil is successfully evolving its priority projects in the north of the Caspian Sea. The company continues to construct facilities at Vladimir Filanovsky, Yury Korchagin and Rakushechnoye fields. Thus, the company has commission......【More】

2019-07-02

Oceaneering launches digital asset inspection system

ABERDEEN -- Oceaneering International, Inc., has launched the Inform Inspect digital asset inspection system, which aims to streamline non-destructive testing (NDT) and inspection management. The tablet-based technology equips technicians,......【More】

2019-07-02

Marathon Oil closes on sale of its UK business

HOUSTON -- Marathon Oil Corporation (NYSE: MRO) announced today the company has closed on the sale of its UK business, which consists of the Brae area fields and Foinaven, to RockRose Energy PLC. The transaction represents a complete countr......【More】

2019-07-02

Why oil's outlook could be even bleaker than expected

SINGAPORE and BEIJING (Bloomberg) -- As storm clouds gather over the worlds top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month. While......【More】

2019-06-26

Oil climbs to a three-week high as U.S.-Iran tensions simmer

SINGAPORE and LONDON (Bloomberg) -- Oil rose to the highest level in more than three weeks as political tensions between the U.S. and Iran continued to simmer, with President Donald Trump announcing plans for further sanctions against the O......【More】

2019-06-25