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UAE sees OPEC considering oil-cuts extension in November

OPEC may need to consider extending its oil-cuts agreement when the group meets in November, as crude markets are taking too long to recover, United Arab Emirates Energy Minister Suhail Al Mazrouei said.

Anglo African Oil & Gas provides operational update regarding Tilapia field

Anglo African Oil & Gas plc, an independent oil and gas developer, has provided an update on activities with regards to the development of the producing Tilapia oil field in the Republic of Congo.

Saudis to tackle lagging compliance with oil cuts "head on"

Saudi Arabia, OPEC’s biggest oil producer, plans to step up pressure on nations that aren’t complying with their commitment to cut output, including a proposal to start monitoring exports.

Saudi economic pain tests Crown Prince's resolve for change

Saudi Arabia’s drive to reduce the economy’s reliance on oil has hit a snag: its reliance on oil.

Oil bulls snap out of funk but OPEC doubts still loom large

Oil optimists are back. They’re just not betting the ranch on a rally yet.

OPEC, non-OPEC nations may ask Libya, Nigeria to join output cuts

Key OPEC and non-OPEC oil nations will discuss the situation involving producers Libya and Nigeria at a meeting on Monday, Russian Energy Minister Alexander Novak told reporters on Sunday.

UAE energy minister hopes global oil markets begin to tighten in second half of 2017

The United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Friday he hopes that global supplies will start tightening in the second half of the year when demand picks up.

Encana exceeds profit estimates, expects strong 2018

Canadian oil and gas producer Encana Corp. on Friday posted a quarterly profit that handily beat estimates and the company said it was expecting a strong 2018, even with current commodity prices.

OPEC, Russia to stand pat on oil deal even as glut persists

OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend.

U.S. owns 700 MMbbl of oil and Trump wants to sell it

The U.S. government began stockpiling oil July 21, 1977. It started with just 412,000 bbl of Saudi Arabian light crude stashed in a Southeast Texas salt dome.

Australia's Woodside Petroleum posts 6.8% drop in second-quarter output

Woodside Petroleum reported a 6.8% fall in oil and gas output in the June quarter due to planned and unplanned outages and a previously flagged reduction in its share of pipeline gas from the North West Shelf.

Kinder Morgan's Trans Mountain pipeline to see little progress this year

No major construction will happen on Kinder Morgan Canada Ltd's Trans Mountain pipeline expansion this year, although construction remains on schedule to begin in September, company President Ian Anderson said on Wednesday.

Brent crude advances above $50 for first time in six weeks

Oil climbed above $50/bbl in London for the first time in six weeks after further declines in U.S. crude and gasoline inventories eased concerns over a global glut.

India approves creation of state oil giant in $4.6-billion deal

India approved the sale of a $4.6 billion stake in state-run refiner Hindustan Petroleum Corp. to the country’s biggest oil and gas explorer, according to a person with knowledge of the decision.

Oil steadies amid mixed signals on U.S. crude inventories

Oil was steady amid mixed signals on U.S. crude inventories, with industry data showing supplies increased last week while government statistics were expected to indicate a decline.

Russian think tank expects oil exports to decline in 2017

A think tank that advises the Russian government on taxes and energy-related issues said on Wednesday it expects the country's oil exports to fall this year thanks to a global deal to cut output, contrasting with official forecasts for a rise.

Sound Energy provides extended well test update at Tendrara, onshore Morocco

Sound Energy, the African and European focused upstream gas company, has provided an update on the TE-7 extended well test, including an initial measurement of the reservoir pressure build-up response.

Libya's ascendant oil boss poses challenge for Saudi Arabia, Russia

Libya’s rebounding oil output is undermining the supply curbs masterminded by Saudi Arabia and Russia.

U.S. crude exports are set to increase

A growing surplus of light crude oil is setting the stage for exports to take off as new pipeline capacity takes Permian crude to the Gulf Coast.

Total, BP unit, YPF announce $1.15-billion investment in Argentina's Vaca Muerta

Argentina's state-run oil firm YPF SA, France's Total SA, Wintershall Energía SA and BP unit Pan American Energy LLC announced a $1.15-billion joint investment on Tuesday to increase shale gas production.