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U.S. oil boom tempts Saudis to consider American crude sale

SINGAPORE (Bloomberg) -- Even Saudi Arabia wants in on the U.S. oil boom. The kingdoms state oil firm considered the possibility of sending American crude to Asia in February via a U.S. unit before determining it wasnt economically viable,......【More】

2018-02-23

China ends 25-year wait as yuan oil futures to start trading

BEIJING and SHANGHAI (Bloomberg) --After a wait of about a quarter of a century, the worlds biggest oil buyer is finally getting its own crude-futures contract. In a challenge to the worlds dollar-denominated oil benchmarks Brent and West T......【More】

2018-02-12

Oil set for worst week in year as rout inflames U.S. supply fear

SINGAPORE (Bloomberg) --Oil headed toward its worst week in almost a year as the global risk-asset rout further rankled investors already concerned over growing U.S. supply. Futures traded in New York are on track to post a 7.5% slump this......【More】

2018-02-11

New bill halves share of oil income for Kenya communities

NAIROBI (Bloomberg) --Kenya halved the amount of revenue it will distribute to local communities once commercial oil production starts, setting up a potential dispute with residents of its economically deprived northern Turkana region. The......【More】

2018-02-09

Venezuela oil sanctions more likely as Tillerson tours region

KINGSTON, Jamaica (Bloomberg) --U.S. Secretary of State Rex Tillerson signaled the U.S. is closer to imposing sanctions on Venezuelas oil sector, raising the pressure on President Nicolas Maduro as his talks with opposition leaders remained......【More】

2018-02-08

Crude pares losses as smoke clears from equities implosion

NEW YORK (Bloomberg) --Oil pared some of its losses as a historic collapse in stock markets began to peter out. Futures were down 0.4% in New York after earlier falling as much as 1.6%. Blue-chip stocks wiped out about two months of gains o......【More】

2018-02-07

Aramco's Asia light oil pricing steady in sign of slower demand

DUBAI (Bloomberg) --Saudi Arabia kept pricing for its main crude grade to Asia unchanged for a second month as the worlds largest crude exporter responds to slower seasonal demand. State-owned Saudi Arabian Oil Co., known as Saudi Aramco, s......【More】

2018-02-06

Oil below $70 as U.S. shale surge looms over bullish banks

LONDON (Bloomberg) --Brent crude traded below $70/bbl as the specter of expanding U.S. supply was weighed against Wall Street banks growing faith in a price rally. The benchmark grade is on course to end the week lower, after being whipsawe......【More】

2018-02-05

Iraqi oil-export ambitions seen putting strain on OPEC accord

DUBAI (Bloomberg) --OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesnt plan to scale back any time soon. Iraq shipped a record 3.55 MMbopd from Basra, t......【More】

2018-02-02

U.S. shale growth could support Caribbean oil storage owners

NEW YORK (Bloomberg) --Caribbean oil terminals hurt by dwindling Venezuelan supply and a market that encourages traders to pull oil out of tank may get a shot in the arm fromU.S. shale. Supply cuts by OPEC and its allies helped shrink globa......【More】

2018-02-01