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Statoil quarterly profit falls 60% after crude collapse

MIKAEL HOLTER STAVANGER, Norway (Bloomberg) -- Statoil ASA, Norways biggest oil company, said third-quarter earnings fell 60% as the average crude price in the period dropped to the lowest since 2009. Adjusted net income, which excludes fin......【More】

2015-10-29

Haze cuts Indonesia's oil production as pollution affects workers

JAKARTA, Indonesia (Bloomberg) -- Indonesias forest fires are cutting the countrys crude oil production and briefly shut a BP Plc gas plant this month, in the first signs the haze pollution is affecting industry. Haze from the fires on Suma......【More】

2015-10-28

Algeria backs Venezuela on OPEC, non-OPEC summit to boost prices

HELENE FOUQUET and MAHER CHMAYTELLI PARIS (Bloomberg) -- Algeria supports Venezuelas call for a summit among heads of state from OPEC and other oil-exporting nations in a bid to lift crude prices, Algerian Foreign Minister Ramtane Lamamra s......【More】

2015-10-27

Oil caps biggest weekly loss since August as supply glut deepens

RAKTEEM KATAKEY and MORNING ZHOU LONDON (Bloomberg) -- Oil capped the biggest weekly decline since August as expanding U.S. crude stockpiles exacerbate a global glut. West Texas Intermediate crude fell to a three-week low, widening its disc......【More】

2015-10-26

Offshore still cheaper than shale while oil sands struggle: Rystad

STAVANGER, Norway -- Offshore resources remain attractive for new production with a breakeven price within the range of $60-65/bbl, concludes Rystad Energys in-depth October study of more than 20,000 non-producing liquid fields. Offshore ho......【More】

2015-10-23

Crude oil declines as U.S. inventories grow most in six months

LONDON (Bloomberg) -- Oil fell after a government report showed U.S. crude inventories grew by the most in six months. West Texas Intermediate futures for December delivery declined below $45 for the first time since Oct. 2. Inventories exp......【More】

2015-10-22

Genel cuts 2015 oil output forecast on Iraq payment delays

LONDON (Bloomberg) -- Genel Energy Plc, an oil producer in Iraqi Kurdistan, reduced its output forecast for this year after suffering delays to payments for its exports. The London-based company said Tuesday it expects to pump 85,000 to 90,......【More】

2015-10-21

Oil bulls maintain momentum as rig cutbacks seen reducing glut

NEW YORK (Bloomberg) -- Hedge funds increased bullish oil wagers on speculation that falling investment will diminish the global supply glut. Money managers boosted their net-long position in West Texas Intermediate crude by 6.6% in the wee......【More】

2015-10-20

Oil extends losses as U.S. crude supplies surge most since April

MARK SHENK WASHINGTON, D.C. (Bloomberg) -- Oil extended losses after the biggest U.S. crude stockpile increase in six months bolstered speculation a global surplus will persist. Inventories climbed 7.56 MMbbl last week, the most since April......【More】

2015-10-16

Oil slide means ‘almost everything’ for sale as rout deepens

AARON CLARK and STEPHEN STAPCZYNSKI TOKYO (Bloomberg) -- More than $200 billion worth of oil and natural gas assets are for sale globally as companies come under renewed financial pressure from the prolonged commodity price rout, according......【More】

2015-10-15