Moody’s joins growing “lower for longer” oil slump consensus
Debt rating agency Moody's Investor Service said Monday it had adjusted its oil price forecast to reflect a more pessimistic, slower recovery in 2016 and 2017.
View ArticleU.S. plans to sell down strategic oil reserve to raise cash
The proposed sale, included in a bill posted on the White House website, equates to more than 8 percent of the 695 million barrels of reserves, held in four sites along the Gulf of Mexico coast.
View ArticleAnadarko CEO: “Growth will not be rewarded” amid cheap oil
This year, Anadarko has sold $2 billion in assets and in the third quarter it wrote off $2.6 billion before taxes on the value of its oil assets, which sank its profits.
View ArticleOil rigs down six as crude prices resume fall
The most recent Baker Hughes count now puts the current losing streak for rigs at its 10th-straight week.
View ArticleOil falls despite U.S. crude inventory decline
Oil prices jumped after U.S. data showed the nation’s stockpile of crude shrank by 3.6 million barrels.
View ArticleU.S. crude falls below $35 as Libyan peace talks advance
U.S. crude slipped 33 cents to $35.29 a barrel on the New York Mercantile Exchange, a slight recovery after it had fallen as low as $34.53 a barrel earlier.
View ArticleMorningstar: The outlook is bleak for oil in 2016
The conclusion drawn by the group mirrors the pessimistic outlooks that have become the consensus at other analyst groups and at energy companies themselves.
View ArticleBrent crude tumbles nearly 5 percent
Oil slumped before weekly U.S. government data forecast to show stockpiles rose in the world’s biggest crude consumer.
View ArticleOil gains despite mixed inventory report
West Texas Intermediate oil for delivery in February rose by 19 cents or 0.6 percent to $30.63 per barrel in early trading.
View ArticleRaymond James: $30 oil is worse than anyone expected
The investment bank's bleak outlook means there could be plenty of pain in early 2016 for producers.
View ArticleU.S. crude falls to 12-year low
West Texas Intermediate futures dropped to $26.13 a barrel, breaking below the $26.19 low from January to reach the lowest since May 2003.
View ArticleRig count tumbles again
The total rig count, which when including natural gas rig fell by 30, now stands at 541.
View ArticleOil climbs as strike cuts Kuwait production
Oil climbed after a four-day loss as a strike in Kuwait cut output from OPEC’s fourth-biggest member, countering the bearish impact of failed production-freeze talks in Doha. Futures rose as much as 2...
View ArticleCrude rises on concerns of supply disruptions
Oil rose from a two-week low on concern that supplies from Nigeria and Libya, holders of Africa’s largest crude reserves, will be disrupted. Futures advanced as much as 2.2 percent in New York. Royal...
View ArticleOil rallies as global supplies fall
Oil advanced to its highest intraday level in six months as supply reductions around the world, from the U.S. and Canada to Nigeria, helped whittle away the global surplus. Futures gained 1.2 percent...
View ArticleOil aims for second weekly advance
Oil headed for a second weekly advance as U.S. crude production continued to decline and firefighters defended Canadian oil-sands operations from wildfires. Futures in New York rose for the first time...
View ArticleOil crosses $50 a barrel, then retreats
Oil rose above $50 a barrel for the first time in more than six months as a decline in U.S. stockpiles accelerated a rebound from a 12-year low. Futures climbed as much as 1.3 percent in New York to...
View ArticleOil heads for fourth straight monthly gain
Oil is set for the longest run of monthly gains in five years as output disruptions from Nigeria to Canada reduce supply before OPEC meets Thursday in Vienna to discuss production policy. Futures...
View ArticleOil back above $50 a barrel
Oil advanced from the highest close in more than 10 months before U.S. government data forecast to show crude stockpiles dropped for a third week, trimming a glut. Futures climbed above $50 a barrel in...
View ArticleCrude falls as drillers mover to resume production
Crude slid to its lowest level in a week in New York after U.S. oil explorers deployed more drilling rigs, signaling that companies may be able to revive output at current prices. Futures fell as much...
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