US Crude Oil, Gasoline Stocks Fall Sharply Last Week, EIA Says

Falling U.S. inventories in recent weeks have helped alleviate some concerns about the global crude glut as Saudi Arabia and Russia underscored their commitment to reducing crude supply.

Jul 26 2017 - 11:15am

Indonesia Open To Rejoining OPEC If Not Forced To Curb Oil Production

The membership talks come as OPEC members grapple with an oversupply of crude around the globe, brought on in part by rising production from U.S. shale regions.

Jul 26 2017 - 7:55am

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

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

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

EIA: US Crude, Gasoline Stocks Drop Sharply

Crude inventories fell by 4.7 million barrels in the week to July 14, compared with analysts' expectations for a decrease of 3.2 million barrels, the EIA said.

Jul 19 2017 - 10:25am

Update: Oil Prices Jump Following Surprise Draw In US Crude, Gasoline Stocks

Before the EIA report that revealed a bigger weekly draw than forecast in crude and gasoline stocks, WTI and Brent futures were up about 0.6%, supported by strong demand for gasoline.

Jul 19 2017 - 7:40am

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