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Caspian Sea breakthrough treaty set to boost oil, pipeline plans

MOSCOW (Bloomberg) --Five Caspian Sea states reached a breakthrough agreement on sovereign rights to the sea, paving the way for new oil and gas extraction -- and pipelines -- after more than two decades of disputes. The treaty ends a spat......【More】

2018-08-13

U.S. cuts oil output outlook as Permian constraints threaten

NEW YORK (Bloomberg) -- The pace of U.S. crude production growth might be slowing or at least thats what the government is seeing for now. The Energy Information Administration forecasts domestic oil output to average 11.7 MMbpd next year,......【More】

2018-08-08

U.S. considers oil sanction waivers as new Iran penalties start

WASHINGTON D.C. (Bloomberg) -- The Trump administration will consider partial exemptions from oil sanctions against Iran for some countries as a first wave of non-oil penalties against the Islamic Republic snap back into effect on Tuesday,......【More】

2018-08-07

Sinopec is said to delay U.S. oil purchases amid tariff concerns

NEW YORK (Bloomberg) -- Chinas largest refiner, Sinopec, will hold off on buying U.S. crude as an escalating trade war between Beijing and Washington threatens to make American imports more expensive, according to a person familiar with the......【More】

2018-08-06

Saudi Arabia cuts oil pricing as it boosts supply to meet demand

DUBAI (Bloomberg) -- Saudi Arabian Oil Company reduced monthly pricing to most markets as the worlds biggest oil exporter boosts supply to meet customer demand. Saudi Aramco, as the state-owned company is known, cut pricing for September sh......【More】

2018-08-03

Oil edges higher as U.S. auto proposal counters bearish rig data

TOKYO (Bloomberg) -- Oil edged higher near $69/bbl on prospects a U.S. overhaul of car efficiency rules will increase fuel consumption, countering concerns over potential gains in American supply. Futures in New York rose as much as 0.5%, f......【More】

2018-07-31

Oil heads for a fourth weekly drop as trade war fears linger

LONDON (Bloomberg) -- Oil was poised for a fourth weekly decline as the unexpected halt in Saudi shipments through a Red Sea waterway failed to add a significant risk premium to prices, while concerns lingered over how the U.S.-China trade......【More】

2018-07-30

Saudis suspend oil shipments via Bab el-Mandeb after attack

LONDON (Bloomberg) -- Saudi Arabia took the extraordinary measure of temporarily halting oil shipments via the Bab el-Mandeb Strait, a key shipping lane for crude at the southern tip of the Red Sea, after it said two tankers were attacked b......【More】

2018-07-27

Oil advances as U.S. surplus near 3-year low takes center stage

NEW YORK (Bloomberg) -- Crude rose on expectations that U.S. oil inventories already close to a 3-year low continue to shrink. Futures rose as much as 1.5% in New York on Tuesday. A U.S. government report is forecast to show a 3.1 MMbbl dec......【More】

2018-07-25

Oil rises as U.S.-Iran tensions counter concern over trade spat

SINGAPORE and LONDON (Bloomberg) -- Oil rose to near $69/bbl as flaring tensions between the U.S. and OPEC member Iran countered growing concerns that trade protectionism will harm economic growth. Futures added 1% in New York following a t......【More】

2018-07-24