Oil

OPEC extends output cut, but big oil price increase unlikely

VIENNA (AP) — An alliance of many of the world's biggest oil-producing nations extended their agreement to cut output for an additional nine months — an effort to support prices that will prove difficult in the face of growing production from the U.S.<p>Thursday's decision by the OPEC cartel — now at …

OPEC

Oil Prices Turn Sharply Lower After Saudi Oil Minister Rules Out Deeper Cuts

Oil prices erased earlier firm gains and turned sharply lower Thursday morning after Saudi Arabia's oil minister Khalid al-Falih ruled out deeper cuts to oil production in any extension to the OPEC output deal. Crude oil prices traded down 0.6% at $51.08, after trading almost 1% higher earlier in …

OPEC

Trump plan to sell off half of oil stockpile sparks debate

WASHINGTON (AP) — President Donald Trump's proposal to sell nearly half the U.S. emergency oil stockpile is sparking renewed debate about whether the Strategic Petroleum Reserve is still needed amid an ongoing oil production boom that has seen U.S. imports drop sharply in the past decade.<p>Trump's …

Oil & Gas Industry

The Latest: OPEC, other nations extend output cut to March

VIENNA (AP) — The Latest on OPEC's talks on extending its production cut agreement (all times local):<p>6:10 p.m.<p>OPEC and other oil-producing nations have extended their output cuts for an additional nine months in an effort to shore up prices.<p>The decision, made Thursday at a high-level meeting of …

OPEC

Amazon Shares Primed to Eclipse $1,000 Mark

Amazon stock is primed to eclipse an all-time high price per share.

Exxon Mobil

Oil sinks on reports OPEC agrees to extend output cuts for 9 months

Investing.com - Oil prices fell sharply in North American trading on Thursday, erasing overnight gains following reports that global crude producers …

OPEC

OPEC and non-OPEC nations extend output cuts

Production cut of 1.8 million barrels a day will stay in place until March<p>An alliance of many of the world's biggest oil-producing nations extended …

OPEC

KPMG's Mayor Says OPEC Needs New Strategy on Shale

Regina Mayor, global sector head of energy and natural resources at KMPG, talks about the market impact of OPEC production cuts and the ability of …

Shale Oil

Crude oil slips as OPEC takes "safe bet" nine-month extension

Stock Markets24 minutes ago (May 25, 2017 07:47AM ET)<p>Saved. See Saved Items.<p>This article has already been saved in your Saved Items<p>© Reuters. Crude …

Petroleum

Live Updates As OPEC Seeks To Raise Oil Prices

<i>OPEC and participating non-OPEC countries are meeting today (May 25, 2017) in Vienna with a goal of extending their production cut agreement. The participating oil producing countries are seeking higher oil prices and to relieve the global glut of oil supply after the market has suffered a two year</i> …

OPEC

Venezuela’s Secret Plot to Sell Banned Syrian Oil in U.S. Market - Bloomberg

Syria and Venezuela plotted in recent years to evade international sanctions on Syria through a secret deal to transport its crude oil through Russia …

United States

Why are building permits issued near existing oil and gas wells?

RJ Sangosti, Denver Post fileAn aerial view of the Firestone neighborhood where two men were killed in an explosion related to a nearby gas line.<i>Re:</i> …

Oil and Gas

Chevron: The High Yield Won't Be Available For Long

Chevron’s production profile is dominated by liquids which accounted for 64% of the company's Q1-2017 output.<p>The company has significant leverage to …

Royal Dutch Shell

Kachikwu: Members 'Largely' on Board With Extension

Nigeria Minister of State: Petroleum Emmanuel Ibe Kachikwu discusses OPEC's 9 month production cut extension, the possible extension of an additional …

How Trump policy will affect US carbon emissions, in one graph

America’s progress on carbon is set to stall.<p>Like every country involved in the Paris climate accord, America has pledged specific reductions in its carbon emissions. In addition to its existing goal — 17 percent reductions from 2005 levels by 2020 — the US also pledged to reach 26 to 28 percent …

Climate

Bitcoin bonanza and Dollar Tree earnings: Here's what could drive markets Thursday

As the S&P 500 narrowly closed at a record high, here are the three market themes that macro strategist Boris Schlossberg of BK Asset Management will …

Dollar Tree

OPEC Discusses Extended Production Cap---Energy Journal

Here’s your morning jolt of news, insight and analysis on the global energy business. Send us tips, suggestions and complaints: EnergyJournal@wsj.com.<p>Sign up for this newsletter: http://on.wsj.com/EnergyJournalSignup<p>FACING PRESSURE FROM SHALE, OPEC DISCUSSES EXTENDED PRODUCTION CAP<p>OPEC seems …

OPEC, non-OPEC extend oil output cut by nine months to fight glut

VIENNA (Reuters) - OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a …

OPEC

Movers: OPEC Extends Production Cuts

We’re following major developments in the markets throughout the day. Check below for the latest updates.<p><b>What to Watch For: OPEC Extends Production Cuts</b><p>• The Organization of the Petroleum Exporting Countries extended production cuts through March 2018. But markets were not impressed: Oil prices …

OPEC

FTSE steady near highs but Petrofac, Acacia slump on probe woes

| MILAN<p>British shares steadied on Thursday as investors sought fresh catalysts after a run that lifted the country's main indexes to record highs, while Petrofac (PFC.L) saw one third of its value wiped out amid worries over a fraud investigation.<p>Data showing that Britain's economy slowed more than …

OPEC

S&P Issues Negative Outlook on Exxon Mobil

<b>S&P Global Ratings</b> issued a negative outlook on <b>Exxon Mobil</b> (XOM) Wednesday after judging that the giant oil company is unlikely to be able to reduce …

Exxon Mobil

Losing clout, OPEC expected to try again to boost oil prices

For decades, OPEC essentially called the shots when it came to global oil production and pricing — and the rest of the world’s economies had little …

OPEC

U.S. oil falls below $50, threatens to slip below trading averages after OPEC confab

U.S. crude-oil prices on Thursday turned sharply lower in midday trade, slipping under $50 dollar a barrel, as investors expressed disappointment about the scope of an agreement by the Organization of the Petroleum Exporting Countries to extend production cuts by nine months. Most recently, West …

OPEC

Oil is getting whacked even after OPEC agrees to extend production cuts

Crude oil tumbled on Thursday even after OPEC and its allies extended their agreement to lower production by nine months.<p>The Organization of Petroleum Exporting Countries — a cartel of major oil producers — extended the deal that started in January to address the global supply glut that has subdued …

OPEC

News Highlights: Top Energy News of the Day

Oil Rally Stalls After Five Days<p>A five-day rally in oil prices paused as investors awaited OPEC's decision about extending production cuts.<p>U.S. Oil Inventories Drop More Than Expected<p>U.S. crude-oil supplies fell by 4.4 million barrels for the week ended May 19, twice what analysts were expecting, …

United States

CEO Daily: Thursday, 25th May

Top News<p>• <b>CBO: 23M would lose insurance under GOP law</b><p>An estimated 23 million people would lose health coverage by 2026 under Republican legislation …

OPEC

OPEC and other oil countries extend oil production cut of daily 1.8 million barrels until March

VIENNA (AP) — OPEC and other oil countries extend oil production cut of daily 1.8 million barrels until March.

Oil & Gas Industry

Extending OPEC-led oil output cuts by 9 months the best option: Iraq oil minister

Iraqi Oil Minister Jabar Ali al-Luaibi said on Thursday that extending the current level of OPEC-led supply cuts by nine months was the best option to restore balance to the crude market.<p>The minister added that a proposal for a nine-month extension with deeper cuts was also on the table.<p>(Reporting …

World News

European stocks were mixed after OPEC agreed to continue production cuts

LONDON — European stocks were mixed on Thursday as market participants looked beyond reports that OPEC has — as expected — agreed to extend production cuts.<p>Several news outlets report on Thursday that the cartel of major oil producers agreed to continue the cuts in a further effort to rebalance the …

OPEC

The daily business briefing: May 25, 2017

1.<p>OPEC members back extension of output cuts<p>Members of the Organization of Petroleum Exporting Countries agreed Thursday to extend output cuts by …

OPEC