Oil rallies as Saudi exports cut, US equities make up ground
Oil prices rallied on the first trading day of 2019 as U.S. equities recovered from early losses and amid signs that Middle Eastern producers were fulfilling a pledge to cut exports.
US
Expect oil price slide to halt as Opec cuts kick in, analyst says
Oil prices will stabilise over the coming weeks as cuts agreed by OPEC kick in, an analyst has said.
Former oil lobbyist to take over as US interior secretary
A former lobbyist who has played a leading, behind-the-scenes role at the Interior Department driving Trump administration policies to expand drilling and strip wildlife protections is poised to take over the agency at least temporarily.
Crystal ball needed to predict prices thanks to shale boom, trading ‘God’ says
Andy Hall, the oil trader nicknamed “God” for his lucrative calls on crude, says the U.S. shale boom has made it far harder to predict global supplies.
Global bankers spurn Trump’s pleas to keep making loans for coal
U.S. President Donald Trump is trying to recruit international lenders to his pro-coal crusade.
US shale becomes oil industry’s safe haven as prices languish
Big Oil is investing more in U.S. shale, not less, after the recent tumble in crude prices.
All eyes on Vienna – OPEC+ must cut 1.5m barrels or wave goodbye to recovery
OPEC and its allies must cut oil production by 1.5 million barrels per day next year if they want crude prices to surge above $70 again, an analyst said today.
Fracking slump deepens as Schlumberger walks oil ‘tightrope’
The North American fracking market - already expected to be a downer for the holidays - is turning out to be even worse than expected, according to the world’s biggest oil-service provider.
Iran warns oil will slump to $40 if Opec fails to cut production
Oil prices will slump to $40 a barrel unless OPEC and its allies cut output significantly, and the group is unlikely to succeed in reviving the market, an Iranian official said.
Oil jumps most since June as Canada cuts after Saudi-Russia pact
Oil was jolted higher by efforts across the globe to support prices as Saudi Arabia and Russia extended their pact to manage the market and Canada’s largest producing province ordered unprecedented output curbs. Prices retreated slightly after Qatar said it was leaving OPEC.
Oil market hinges on Saudi dilemma: Bust budget or anger Trump?
The choice facing Saudi Arabia at next week’s OPEC meeting is dramatic: cut oil production and enrage Donald Trump, or keep pumping and risk ultra-low prices blowing up its economy.
Exxon to use wind, solar power to produce crude oil in Texas
Exxon Mobil Corp. will use renewable energy to produce oil in West Texas.
Oil’s record plunge a ‘made in America’ phenomenon, Citi says
American fingerprints are all over oil’s record losing streak that’s plunged prices into a bear market.
Ziyen moves into operations phase with first oil in US
Scottish-American oil firm Ziyen has produced oil for the first time and is now officially classified as an operator in the US.
Oil holds loss after worst slump in 3 years on weakening outlook
Oil was showing little sign of recovering from its unprecedented decline as investors flee a market hammered by swelling supplies and a darkening demand outlook.
Energy companies lead US stocks lower after oil price plunge
The steepest drop in oil prices in more than three years put investors in the US in a selling mood, extending a losing streak for the S&P 500 index to a fourth day.
Updated: Brent dropped below $70 for first time in months
Brent crude dropped below $70 per barrel for the first time since April today as waivers took the sting out of Washington's latest sanctions on Iran.
How Toshiba lost $806m buying into US LNG boom
Buy high, sell low and guarantee a loss. It’s not exactly what Toshiba Corp. planned when it dipped its toes in liquefied natural gas trading.
Oil set for longest losing run since 2014 as supply fears ease
Crude’s poised for the longest losing streak since 2014 as concerns of a supply crunch eased on a forecast for rising U.S. production and waivers for eight countries allowing temporary import of Iranian oil.
Oil could touch $100 if supply crunch worsens, Citi’s Morse says
Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup Inc.
Oil trades near 7-month low as US waivers ease shortage fears
Oil held near the lowest level in seven months as concerns over a supply crunch eased after the U.S. granted waivers to eight governments to continue buying some Iranian crude.
UK firms told to keep doing business with Iran despite US sanctions
Britain will continue to expand trade relations with Iran despite Donald Trump's decision to re-impose sanctions on the state, Downing Street has said.
Iranian president warns of ‘war situation’ as sanctions resume
Iran has greeted the re-imposition of US sanctions with air defence drills and an acknowledgement from President Hassan Rouhani that the nation faces a "war situation".
Serica meets conditions for sanctions waiver, buys BHP’s stakes in North Sea duo
Oil firm Serica Energy took another step towards completing a series of UK North Sea acquisitions today.
It’s the Iranian oil guessing game. And the bears are winning
Oil sceptics have been proved right in downplaying sanctions against Iran.