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Goldman sees Russian oil output topping Soviet record by 2018

MOSCOW (Bloomberg) -- Russian oil output will exceed the former Soviet record set almost 30 years ago by the end of 2018 as low-cost fields allow producers to defy the slump in prices, according to Goldman Sachs Group. Production will climb......【More】

2016-07-21

First foreign tanker set to load Alaska oil in three decades

NEW YORK (Bloomberg) -- A cargo of Alaska North Slope crude is scheduled to load next week aboard a foreign-flagged tanker for the first time in more than 30 years. The Bahamas-flagged Tianlong Spirit, currently off the coast of California,......【More】

2016-07-20

Oil flows through Turkey unhindered after coup quelled

ISTANBUL, Turkey (Bloomberg) -- Oil tankers are loading and unloading cargoes normally at Turkeys ports and sailing without interruption in the nations waters after forces loyal to President Recep Tayyip Erdogan crushed an attempted coup. S......【More】

2016-07-19

Oil producers prepare for second-half slump as rally sputters

HOUSTON (Bloomberg) -- Oil producers arent betting on the rally. After surviving two years of low prices, theyre gearing up for a third by buying protection against a renewed downturn. Laredo Petroleum Inc. said July 14 that it hedged more......【More】

2016-07-18

Oil retreats after industry data show U.S. stockpiles expanding

NEW YORK (Bloomberg) -- Oil fell after the biggest gain in three months as U.S. industry data showed the nations crude stockpiles increased, adding to concerns about oversupply. Futures lost as much as 1.6% in New York. Inventories rose 2.2......【More】

2016-07-15

InterOil said to get Exxon buyout offer topping Oil Search

IRVING, Texas (Bloomberg) -- Exxon Mobil Corp. made an indicative takeover proposal for InterOil Corp. that topped a competing $2.2-billion bid for the owner of trillions of cubic feet of natural gas discoveries in Papua New Guinea, a perso......【More】

2016-07-14

Premier Oil jumps in London as Brexit cuts costs in Sterling

LONDON (Bloomberg) -- Premier Oil rose the most this month in London trading after saying its benefiting from a decline in the British pound following the UKs vote to leave the European Union. The shares climbed as much as 6.6% on Tuesday,......【More】

2016-07-13

Falling U.S. oil output not enticing enough for wary investors

NEW YORK (Bloomberg) -- Not even a sharp decline in U.S. oil production can convince investors that crude prices are ready to rebound. Stubbornly high U.S. inventories and resurgent output from OPEC, Russia and Canada have prompted money ma......【More】

2016-07-12

Big Oil’s $45 billion of new projects signal spending revival

HOUSTON (Bloomberg) -- Two projects worth $45 billion announced this month show the worlds largest oil companies are regaining the confidence to make big investments, emboldened by rising crude prices and low costs that promise to trigger m......【More】

2016-07-11

Oil swings between gains, losses as traders weigh Brexit effect

NEW YORK (Bloomberg) -- Oil swung between gains and losses after falling to a one-week low as investors fled to haven assets on concern the UKs vote to leave the European Union (EU) will hinder global growth. Futures dropped as much as 1.5%......【More】

2016-07-07