Oil Prices ///
Oil hasn’t started off this strong in 18 years.
Oil’s after-market rebound waned Thursday after the U.S. Treasury Department disputed a report that the Trump administration might ease trade tariffs against China.
Oil retreated toward $51/bbl as record production in the U.S. undercut assurances from Russia that it will step up efforts to drain global supplies.
One of the largest investors in Gulfport Energy Corp. is urging changes at the natural gas and oil company, saying its board lacks the experience needed to correct its lagging performance.
Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a global supply glut.
Oil prices gave up their gains Wednesday as U.S. production surged and fuel inventories climbed, stoking fears about an oversupply of crude.
Oil climbed as investors anticipated another decline in U.S. crude inventories and China promised to slash taxes to avert an economic slowdown.
The year has barely begun but it’s already shaping up nicely for OPEC, with crude rebounding sharply after the worst fourth-quarter performance since 2014.
The U.S. plans to grant no new waivers to buyers of Iranian oil as it intensifies efforts to eliminate the Middle Eastern producer’s exports of crude, a senior official said.
Oil extended its retreat as investor appetite for risk shrank and uncertainty persisted over how much OPEC will need to cut output to counter booming U.S. shale supplies.
Output cuts in oil-rich Alberta and Saudi Arabia are combining to leave heavy-crude refiners from the Gulf of Mexico to Asia in a bind.
Oil’s collapse at the end of last year was critical to DNO ASA clinching the hostile takeover of Faroe Petroleum Plc after a contentious battle for control, the target company’s boss said.
Italy’s top oil producer and Oman’s energy minister predict the latest oil rebound will stick.
Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers.
Alberta’s government maintained its mandated oil curtailment in February at the same level as January even as Canadian heavy oil prices surged.
Oil extended its winning streak to the longest in almost a decade as the Federal Reserve’s wait-and-see approach on interest rate hikes added to a rosier outlook.
Oil prices are likely to trade between $60/bbl to $70/bbl range by mid-2019, barring sharp economic slowdown.
Oil stormed back into bull market territory, as investors who’d abandoned crude just a month ago were lured back by an OPEC-led campaign to bring runaway supplies in check.
Brent oil extended its longest rally in a year and a half, rebounding above $60/bbl, on hopes of a resolution in the U.S.-China trade dispute.
One of the oil industry’s highest-paid executives is taking a pay cut as his company braces for possibly difficult times ahead after its stock plunged last year.