World Wide

Hess Posts Bigger Second-Quarter Loss As Oil Production Dips

Like many of its peers, Hess is struggling to adapt to the dip in oil prices this year, which was not expected when 2017 capital budgets were crafted.

Jul 26 2017 - 8:00am

Crude Oil Prices Extend Gains After Saudi Arabia Pledges Export Curbs

At a meeting on July 24, Saudi Energy Minister Khalid al-Falih said that his country would limit its crude exports to 6.6 million bbl/d in August, almost 1 million bbl/d below the levels of a year ago.

Jul 25 2017 - 7:35am

Anadarko Becomes First US Oil Producer To Slash 2017 Capex

Anadarko and the rest of the U.S. shale oil industry have been grappling with how to conserve cash and maintain growth opportunities even as crude prices have slumped since January.

Jul 24 2017 - 4:02pm

OPEC Moves To Cap Nigerian Oil Output, Boost Compliance

OPEC states Libya and Nigeria were exempted from the limits to help their oil industries recover from years of unrest, though a committee on July 24 agreed Nigeria would now join the deal.

Jul 24 2017 - 7:30am

Oil Prices Fall On Forecast Of Rising OPEC Production For July

Oil traders are looking ahead to the July 24 meeting of several ministers from OPEC and non-OPEC members in Russia, though some analysts doubt it will lead to any new intervention.

Jul 21 2017 - 8:05am

Schlumberger Agrees To Buy Stake In Russian Drilling Firm Eurasia

Schlumberger NV, the world’s largest oilfield services company, has agreed to buy a 51% stake in Russia’s biggest oilfield services firm Eurasia Drilling Co. (EDC), the Russian company said late on July 20.

Jul 21 2017 - 6:02am

Brent Crude Climbs Above $50 For First Time Since Early June

Both benchmarks were trading at their highest since June 7 after rising more than 1.5% in the previous session on a report showing U.S. crude and fuel inventories fell last week.

Jul 20 2017 - 8:00am

Russia To Continue Working With OPEC On Oil Market Rebalancing, Source Says

Russia is ready to continue working with OPEC, a source said, adding that Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya.

Jul 19 2017 - 7:45am

Analysts: US Third-Quarter Crude Production Coming Up Short

Stratas Advisors’ Oil Comparables Weekly shows less in storage, lower field production than expected.

Jul 19 2017 - 6:18am

Crude Oil Prices Climb; Remain 'Stuck In Range'

Oil rose on July 18 but traders said the market was trading in a tight range and showed few signs of big short-term moves.

Jul 18 2017 - 7:35am