Forecast ///

Oil declines after U.S. crude stockpiles advance in ninth week

Oil retreated after a government report showed that U.S. crude, gasoline and distillate fuel stockpiles increased.

Cortec helps aging oil and gas structures in the Middle East

As oil and gas facilities in the Middle East are aging and approaching their anticipated design life, operators are asking whether the end is really near, and whether a new lease on life is possible.

Oil-sands chases carbon technology fix as Canada fights bad rap

Canada’s oil sands are about to be put on a carbon diet as the country strives to overcome the “dirty oil” label used by President Barack Obama in rejecting the Keystone XL pipeline.

Oil resumes fall as Saudi Arabia repeats readiness to cooperate

Oil fell after briefly climbing on Saudi Arabia’s repeated pledge to work with OPEC and other producers to stabilize global oil markets.

Oil bulls see little chance of help from OPEC as supply grows

Hedge funds are betting OPEC won’t do anything next month to keep crude oil above $40/bbl.

Norway offshore fleet faces more pain as 100 vessels stacked

The number of Norwegian offshore vessels with nothing to do has gone from zero to 100 in just a year. And the woes are far from over, the industry’s top lobbyist said.

Africa oil boom fades as $50 crude shuts door on high-cost deals

Oil below $50 has made more than two out of three investment projects on the continent non-viable.

Falling oil prices fail to deter European energy stock bulls

The cost-cutting campaign among European energy companies is paying off: Investors are buying up their shares even as oil prices drop.

Canada plans pipeline review changes

Canada plans to outline changes to pipeline reviews in the coming weeks and months as the Liberal government seeks to restore confidence in its regulators.

Oil recovers from two-month low on report of U.S. supply decline

Oil rose from the lowest close in more than two months as U.S. industry data showed crude supplies fell in the world’s biggest consumer.

Oil tycoon Pickens’ energy holdings slump as downturn drags on

Oil tycoon T. Boone Pickens reversed course in the third-quarter by slimming down his energy holdings and selling several companies he’d bought just three months earlier as the worst crude market downturn in decades drags on.

Anadarko said to have approached Apache with takeover offer

Anadarko Petroleum Corp. approached Apache Corp. about a combination that would be the largest for an independent U.S. oil and gas producer this year and would create an explorer that pumps more crude than OPEC member Ecuador.

U.S. oil drillers idle six rigs as oil cycle hovers near lows

U.S. crude explorers pulled back drilling rigs for a 10th straight week as conviction grows that the worst oil downturn in decades is nearing its bottom.

European Oil's $8 billion plan to pay investors and retain cash

In a record downturn for the oil industry, cash is everything to companies and dividends are everything to their investors.

Mexico casts wider net for oil buyers as U.S. interest wanes

Mexico isn’t breaking up with U.S. oil refiners, but it sure seems like it wants to see other people.

Norway rig tender reveals 'desperate' drillers in price rout

An unusually high number of rigs are competing for a Det Norske Oljeselskap ASA drilling contract on the Alvheim oil field in the North Sea, an illustration of how companies are desperate for business as producers slash spending amid a crude-price slump.

Oil falls from two-week high as Chinese manufacturing contracts

Crude declined from its highest closing level in two weeks as a measure of manufacturing activity signaled contraction for a third straight month in China, the world’s second-biggest oil consumer.

Iran seen jolting oil market with 90-day supply after sanctions

Iran may roil global oil markets with plans to sell about 45 MMbbl of fuel stored in tankers in the Persian Gulf within three months of the removal of sanctions on its economy, according to analysts.

Chevron cuts jobs, spending, growth target as slump persists

Chevron Corp. said its cutting about 10% of its workforce and scaled back its long-term production target amid the worst oil-market slump since the 1980s, even as the company posted third-quarter profit that surpassed analysts’ expectations.

Husky Energy considers selling assets after cutting jobs

Husky Energy Inc. plans to keep cutting jobs after eliminating 1,400 positions, the most disclosed by a Canadian energy company in the oil-price slump.