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Oil trades near $67 as Saudi Arabia sees ＂inevitable＂ supply boost

LONDON (Bloomberg) --Oil steadied just below $67/bbl as Saudi Arabias energy minister said an OPEC agreement to raise production is inevitable. Futures in New York rose 0.5% after a 1.4% increase in the past three sessions. After talks in M......【More】

2018-06-15

Oil companies ask to throw out New York's climate change lawsuit

MANHATTAN (Bloomberg) --A group of the worlds biggest oil companies asked a judge to throw out New York Citys lawsuit seeking to hold them responsible for costs related to climate change. ConocoPhillips, ExxonMobil Corp. and Chevron Corp. a......【More】

2018-06-14

Oil trades near $66 as OPEC split deepens over production boost

LONDON (Bloomberg) -- Oil traded near $66/bbl as producing countries disagreed over relaxing output curbs and OPEC highlighted the uncertainty over the strength of demand later this year. Futures in New York fell 0.2% after a 0.6% increase......【More】

2018-06-13

Hedge fund with 69% return sees more to come from oil recovery

OSLO (Bloomberg) --A hedge fund run by a former associate of billionaire John Fredriksen has gained 69% in two years betting on shunned oil-related assets -- and its not nearly done exploiting the recovery. The Titan Opportunities Fund, whi......【More】

2018-06-11

OPEC finds rewards from oil-supply cuts weren't evenly split

LONDON (Bloomberg) --OPECs members all benefited from last years supply deal, but the rewards werent evenly divided. The Organization of Petroleum Exporting Countries overall oil-export revenues climbed by 28% in 2017 to $578 billion, accor......【More】

2018-06-08

Repsol shows faith in oil's rally with dividend, spending boost

MADRID (Bloomberg) --Repsol SA, Spains largest oil producer, plans to raise dividends and investments over the next two years on a bet that crude will remain above $50/bbl. The scrip dividend -- a payout to shareholders in stock -- will cli......【More】

2018-06-07

Goldman says U.S. oil request won't stop stockpiles dwindling

LONDON (Bloomberg) --The outlook for oil is still bullish even if OPEC accedes to U.S. pressure to boost supply, Goldman Sachs Group Inc.s top commodities analyst said. The U.S. government has quietly asked Saudi Arabia and some other produ......【More】

2018-06-06

Shell says Nigeria attacks persist even as oil output recovers

ABUJA (Bloomberg) --Nigerias oil wells may be flowing again, but the countrys largest operator says attacks continue to put a brake on output. Security in parts of the Niger delta remains a major concern with persisting incidents of crimina......【More】

2018-06-05

Oil slips after Saudi-Russian revival talk ＂popped the bubble＂

NEW YORK (Bloomberg) --Crude fell for a fifth straight day as the market weighs the prospects of rising production from Saudi Arabia and Russia. Futures fell 1.7% in New York to their lowest level in six weeks. Saudi Arabia and Russia last......【More】

2018-05-30

Saudi-Russia policy shift sets stage for tense OPEC meeting

LONDON (Bloomberg) --When Saudi Arabia and Russia announced a new policy to revive oil production last week, one thing was missing: most of the other partners in their grand coalition. With oil supplies tightening and prices soaring, the tw......【More】

2018-05-28