Saudi plans for early end to OPEC pact may leave job undone
Saudi Arabia says OPEC is on track to wrap up its production curbs by the middle of the year. That would leave its aim of clearing a global oil glut unfinished.
As OPEC acts on New Year’s resolution, US shale pumps away
U.S. shale is getting in the way of a New Year’s resolution by OPEC to cut production and boost the market.
Oil’s painful cost-squeeze generates output dividend for Norway
Cost cuts are painful, but for Norway’s oil industry making every penny count has also yielded a surprising production windfall.
Oil caps worst week since November with all eyes on OPEC cuts
Oil posted the biggest weekly decline since November as traders await proof that OPEC and other producers are following through on promises to cut production.
Pemex so cash-starved it’s selling little league baseball field
Pemex has put a kids’ recreation park up for sale as it combs through its assets searching for property it can exchange for needed cash.
Link between oil currencies and crude swings to be reforged
Some breakups just aren’t meant to last.
California moving to protect green projects from Trump
California is considering a system to protect projects that cut global-warming emissions from a market downturn that may worsen under a Trump administration.
Trump trade attacks to face reality of shrinking Chinese surplus
A week from Donald Trump assuming the U.S. presidency, data from the country he’s called a trade cheat and threatened to label a currency manipulator show China’s trade surplus with both the world and the U.S. actually shrank last year.
Bond chief at Norway’s biggest bank braces for high-yield rally
Norway’s junk bond market will continue recovering this year as risks tied to the oil industry fade away, according to the asset management arm of Norway’s biggest bank.
VW pulled out of Daimler deal before embarking on diesel cheat
Volkswagen AG might have stayed clear of the diesel cheating that led to the worst crisis in its history had the company not pulled out of a promising deal with Daimler AG more than a decade ago.
Nigeria oil union suspends strike after accord with companies
Nigeria’s blue-collar oil union suspended a planned three-day warning strike that began Wednesday after the government brokered a deal between workers and oil companies, including units of Chevron Corp. and Exxon Mobil Corp.
Saudi oil output drops under OPEC quota close to two-year low
Saudi Arabia has reduced oil production to less than 10 million barrels a day, below its targeted level, and will consider renewing its pledge to cut crude output in six months, Energy Minister Khalid Al-Falih said.
UK industry continues `erratic’ performance as output rebounds
U.K. industrial production rose more than economists forecast in November, led by a surge in oil and gas as a major North Sea field resumed operations.
UK industrial output rises more than forecast on oil, gas
UK industrial production rose more than economists forecast in November, led by a surge in oil and gas as a major North Sea field resumed operations.
Tillerson to call Russia ‘a danger’ in confirmation testimony
Russia poses a danger to the U.S. and must be held accountable for its actions, Rex Tillerson, President-elect Donald Trump’s nominee for secretary of state and the former CEO of Exxon Mobil Corp., will tell senators at his confirmation hearing.
Iraq confirms oil-output cut even as scheduled exports rise
Iraq has reduced its oil production by 160,000 barrels a day and will comply with cuts it agreed to make under an OPEC output deal, Oil Minister Jabbar Al-Luaibi said, even as ship loading data suggested that exports are set to increase next month.
Oil drillers are expanding again after losing half-million jobs
The oil industry is expected to boost spending for the first time in three years after slashing almost half a million jobs globally during the downturn, according to industry consultant Graves & Co.
$53billion fund in Norway offers ‘Scared of Everything’ model
The biggest Norwegian pension fund always fears the worst outcome. And it’s a strategy that’s paying off.
Devaluation looms for Nigeria even as forwards ease on oil
The Nigerian naira’s recovery in the forwards market may be deceptive. The currency is destined to weaken, however long policy makers hold out.
Kuwait says Saudi Arabia to UAE complying with oil cuts
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Countries said.
Will OPEC deliver its output cut deal? Here’s how we’ll know
The promise of production cuts from OPEC and its partners sent oil rallying in 2016. Now traders want proof they’re delivering on those vows. It won’t come easy.
Oil halts gain near $54 as rising US drilling damps Saudi cuts
Oil halted its advance below $54 a barrel as an increase in U.S. drilling countered signs OPEC members including Saudi Arabia are sticking to planned output cuts to stabilize the market.
Brent oil closes at 18-month high after positive US jobs data
Brent oil rose to the highest close in almost 18 months after U.S. government data showed strong job and wage gains while Kuwait and Saudi Arabia signaled they are curbing output.
Grid in ‘imminent danger’ from cyber threats, energy report says
The US electric grid "faces imminent danger" from cyber-attacks, which are growing more frequent and sophisticated, according to the Energy Department.
Troubled Nigerian loans seen spiking before economic rebound
Access Bank Plc is predicting that the level of troubled loans in Nigeria will continue to climb before an economic recovery in the second half of the year brings relief to the country’s lenders.