Uncertain oil traders look to clashing stockpile data for signs
Oil traders don’t know who to follow these days.
Oil seen by Kuwait trading as high as $60 until at least 2018
Crude oil will rise to a range of $50 to $60 a barrel until at least 2018 as demand increases and markets absorb an oversupply that’s led to lower prices over the last two years, according to the acting oil minister of OPEC member Kuwait.
OPEC sees rising crude demand in 2017 as Saudis pump near record
OPEC forecast higher demand for its crude next year as the global surplus fades, while Saudi Arabia pumped near-record levels amid peak summer consumption.
Premier Oil jumps in London as Brexit cuts costs in Sterling
Premier Oil (LON: PMO) Plc rose the most this month in London trading after saying it’s benefiting from a decline in the British pound following the U.K.’s vote to leave the European Union.
Fossil fuel industry risks losing $33trillion to climate change
The fossil fuel industry risks losing $33 trillion in revenue over the next 25 years as global warming may drive companies to leave oil, natural gas and coal in the ground, according to a Barclays Plc energy analyst.
Return of oil contango shows market recovery will be bumpy ride
On the surface, the recovery of the global oil market is firmly in place, signaling an end to two years of oversupply and collapsing prices. However, one key indicator is warning of turbulence ahead.
Shell-led group delays decision on Canada gas export plan
Royal Dutch Shell (LON:RDSB) Plc and its partners delayed for the second time this year a final investment decision on a terminal to export liquefied natural gas from Canada’s Pacific Coast to Asian markets.
Oil halts drop to 2-month low as US stockpiles seen sliding
Oil halted its drop near a two-month low before data forecast to show U.S. inventories fell for an eighth week.
Reopening Libya oil ports Is newly unified NOC’s ‘top’ priority
Libya’s state crude producer is seeking to reopen oil ports and restore crude output as the fractured OPEC nation struggles to reunite after five years of civil strife, according to its chairman.
Oil falls to two-month low as US drillers boost operations
Oil dropped to a two-month low after U.S. producers deployed the most rigs since April, signaling that output losses that trimmed a global glut may slow.
Southern Company expands gas footprint with $1.5billion Kinder deal
Southern Company bought a 50 percent stake in Kinder Morgan Inc.’s Southern Natural Gas pipeline system in the latest expansion into gas shipping by a power generator amid slipping electricity demand.
Oil trader Trafigura builds thriving US crude-export business
Over nearly 45 years, the oil tanks at Milford Haven on the U.K. west coast have stored dozens of crude varieties: from North Sea Brent to Nigeria’s Bonny Light and almost everything in between. Now, for the first time, they are holding U.S. crude too.
Falling US oil output not enticing enough for wary investors
Not even a sharp decline in U.S. oil production can convince investors that oil prices are ready to rebound.
Crude falls as US drilling rigs increase to most since April
Oil dropped after U.S. producers increased the number of active rigs to the highest in 12 weeks, raising speculation output declines that have trimmed a global glut may slow.
Oil-sands crude returns to US market when it’s less needed
Canadian oil-sands producers who are restoring production after wildfires are finding U.S. refiners are doing just fine without as much crude from their northern neighbor.
Norway will keep the UK warm this winter with gas supply boost
Britons won’t have to worry about staying warm this winter and they have Norway to thank.
Oil trades near $45 as US jobs data spurs economic optimism
Oil traded near $45 a barrel in New York after stronger U.S. payroll growth alleviated concern about the economy of the world’s largest crude-consuming nation.
KKR’s Mexican oil deal kicks off new era in funding for Pemex
The biggest corporate issuer of bonds in emerging markets appears to be taking a breather.
Size isn’t everything anymore for world’s oil-service providers
The era of monster takeouts in the oil-services world took a further step back Thursday when National Oilwell Varco Inc. and GE Oil & Gas partnered up, reinforcing an industry-wide push for cost savings over size.
Big oil’s $45billion of new projects signal spending revival
Two projects worth $45 billion announced this month show the world’s largest oil companies are regaining the confidence to make big investments, emboldened by rising crude prices and low costs that promise to trigger more expansion ahead.
Suncor Energy makes biggest bet on oil
Suncor Energy Inc. is making the biggest bet on oil among the world’s largest producers, counting on recent purchases to help push costs lower while betting demand will outweigh supply -- and environmental angst over one of the dirtiest forms of the fossil fuel.
Hinkley Point subsidy may reach £37billion, twice last estimate
Subsidies promised to Electricite de France SA by the U.K. for power generated from the Hinkley Point C nuclear station are projected to reach £37billion ($48billion), more than twice the estimate made a year ago, according to data published on a government website Thursday.
Global stocks rise as oil advances toward $48; Treasuries slide
Global stocks rebounded from the lowest levels in a week, crude climbed toward $48 a barrel and Treasuries fell with gold as investors shifted back toward risk assets before tomorrow’s U.S. payrolls report.
Russia said to mull oil tax revamp to remove neighbors’ benefits
Vladimir Putin’s government is considering shifting the burden of oil taxes from the point of export to the point of extraction, a move that would eliminate the benefit of duty-free supplies enjoyed by neighboring Belarus and Kazakhstan, according to two officials familiar with the matter.
Oil gains after failing to breach June low as dollar declines
Oil climbed after failing to break beneath last month’s low as a weakening dollar increased investor appetite for commodities.