‘Relief’ for some as oil rises past $40, but North Sea activity to remain depressed
Oil prices rose past $40 per barrel mark on Wednesday amid speculation that quotas for international production cuts could be kept higher for longer.
$40
Enbridge, Marathon agree to buy $2b Bakken pipe stake
A unit of Enbridge Inc. and Marathon Petroleum Corp. have agreed to pay a combined $2 billion in cash for a stake in the Bakken pipeline system from an affiliate of Energy Transfer Partners LP and Sunoco Logistics Partners LP.
Oil must go to $40 and stay there to buy Russia some reforms
At an oil price of $40 or below, Russian President Vladimir Putin introduced a flat income tax, built a sovereign wealth fund and delivered speeches to the Bundestag in German.
Brent swings near $40 as falling US rigs counter Iran output
Brent crude, the global benchmark, swung between gains and losses near $40 a barrel as a dwindling rig count in the U.S. countered Iran’s plans to expand production.
Brent halts gain near $40 as stockpiles counter freeze proposal
Brent oil halted gains above $40 a barrel as forecasts that U.S. stockpiles would remain at the most since 1930 competed with speculation producers may agree to an output freeze.
Brent crude oil rises to $40 for first time since December
Oil advanced to $40 a barrel in London for the first time since December as U.S. drillers cut the number of active rigs to the least in more than six years amid a global glut.
Husky Energy budgets for $40 oil in 2016
Husky Energy said it plans to keep its budget in the next year unchanged from 2015 and is planning for $40 per barrel of oil. The company said it would spend $2.9billion to $3.1billion in 2016 in comparison with $3billion this year. Husky also plans to sell some of its midstream assets in western Canada as it looks to strengthen its balance sheet.
Oil extends decline below $40 as OPEC abandons production target
Oil extended losses below $40 a barrel amid speculation a record global glut will be prolonged as OPEC abandoned its long-time strategy of limiting production to control prices.
OPEC seen holding the line as $40 crude looms over Vienna
It’ll take more than $40 crude to make OPEC change its mind, analysts said before the group’s Dec. 4 meeting in Vienna.