Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.
Saudi Arabia and Russia signaled they may be open to further output cuts after the latest OPEC+ deal to curb global oil supplies failed to stem the crude’s downward spiral.
Faroe Petroleum Plc is hunting for offshore oil and gas assets in Norway and the U.K., with an appetite that could equal the current size of the company itself -- about $550 million.
Saudi Arabia kept pricing for its main crude grade to Asia unchanged for a second month as the world’s largest crude exporter responds to slower seasonal demand.
In the span of a few hours, Royal Dutch Shell Plc became the new king of Mexico’s deep waters.
OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesn’t plan to scale back any time soon.
The next global powerhouse in the auto industry comes from a small city in a tea-growing province of southeast China, where an unheralded maker of electric-vehicle batteries is planning a $1.3 billion factory with enough capacity to surpass the output of Tesla and dwarf the suppliers for battery-powered cars GM, Nissan and Audi.
Like its ocean-crossing oil tankers, Exxon Mobil Corp.’s strategy can take some time to turn. When it does, the impact can be striking.
For the world’s largest oil explorers, it’s a time of transition.
A rally in the price of black gold is giving Norway another fix.
When President Donald Trump gave his State of the Union address Tuesday night, he touted the sweeping U.S. tax overhaul approved by Congress last month. For the country’s oil explorers, the law should mean an almost $200 billion boost in asset values, one consultant says.
The global elites have rediscovered their animal spirits.
For so-called blank-check companies focused on energy, the party’s over.
Iceland’s hope of finding oil offshore its coast is fading after China and Norway decided to back out of the island nation’s only remaining exploration license.
Signs of a possible gain in U.S. crude stockpiles have put the brakes on oil’s rally.
The pledge Saudi Arabia and Russia made to keep working together on managing the oil market beyond 2018 shows the two energy giants are now looking to engineer an orderly exit from the deal and avoid crashing the prices they’ve worked so hard to revive.
The global oil industry’s backlog of big drilling projects is starting to shrink as prices improve.
If there was one message that echoed through the mountains ringing Davos a year ago, it was that the business world could ignore Donald Trump’s tweets.
OPEC and Russia reaffirmed that they’ll persevere with oil-production cuts until the end of the year to clear a global glut and signaled their readiness to cooperate beyond that.
Cedar Holdings Group, a Chinese conglomerate, has expressed interest in buying control of commodities trader Noble Group, according to people with knowledge of the matter.
Prospects for a winding back of central bank stimulus this year, along with a potential pick-up in global inflation, have boosted the risk of greater fluctuations in asset markets that have largely moved in tandem in recent years.
Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers for OPEC-led output cuts to continue, despite recent price gains.
Authorities were trying to assess the environmental impact of oil that’s on fire in the East China Sea after an Iranian tanker sank and caused a spill that covered about 4 square miles.
All 32 crew members on board an Iranian oil tanker that’s been burning for a week near China’s eastern coast are presumed dead, an Iranian official said.
OPEC’s strategy to end a worldwide crude glut is causing havoc for a vital link in the oil industry’s supply chain: the fleet of supertankers that shuttle fuel between continents.
