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U.S. oil drillers cut most rigs since May 2016: Baker Hughes

U.S. oil drillers cut most rigs since May 2016: Baker Hughes

U.S. drillers this week cut oil rigs by the most in over two year even as record production has turned the United States into a net oil exporter for the first time in history. Energy companies cut 10 oil rigs in the week to Dec. 7, the biggest...

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Six bargain energy stocks, if you can stomach the ride

Six bargain energy stocks, if you can stomach the ride

If investors can count on one thing about the energy sector, it’s that it is anything but boring. Look at its manic behaviour of the past few years, months, weeks and even days. Oil had hit the skids – again – in recent weeks as prices fell from...

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Resource Weekly 328 – US crude rises 4%, settling at $52.95, on trade truce and expected supply cuts

Resource Weekly 328 – US crude rises 4%, settling at $52.95, on trade truce and expected supply cuts

  Click here to find more details This is NAI’s new Resource Weekly. We will be covering the latest news in Mining, and Oil and Gas sectors every week. To continue to receive NAI’s Resource Weekly, please click Here to subscribe.

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China Expands Largest Gas Field; Daily Yield Is 20 Million Cubic Meters of Gas

China Expands Largest Gas Field; Daily Yield Is 20 Million Cubic Meters of Gas

The expansion project for the Dina-2 Oil-Gas Processing Plant in northwestern China has ended and its operations started yesterday. The country’s largest gas-condensate reservoir added another 4 million cubic meters to its previous...

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Saudi Arabia wants united front on oil output; Russia and Nigeria hold out

Saudi Arabia wants united front on oil output; Russia and Nigeria hold out

Saudi Arabia will not cut oil output on its own to stabilize the market, Energy Minister Khalid al-Falih said on Wednesday as Nigeria and Russia said it is too early to signal whether they would join any production curbs. Oil producer group OPEC...

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Saudi Aramco eyes $150bn of gas investments

Saudi Aramco eyes $150bn of gas investments

Saudi Aramco’s drive to increase gas output and become an exporter will spur $150bn worth of investments over the next decade, according to the state energy group’s chief executive. Outlining plans to increase Aramco’s gas output by almost 65 per...

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Goldman Sachs contradicts Trump: $50 oil is bad for the US, commodity chief warns

Goldman Sachs contradicts Trump: $50 oil is bad for the US, commodity chief warns

The rapid plunge in oil prices to $50 a barrel is bad for the United States and threatens to create problems in the credit market, warns Jeff Currie, head of commodities research at Goldman Sachs. Currie’s opinion is at odds with the view...

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Goldman expects commodities to rebound next year, says oil and gold prices are ‘extremely attractive’

Goldman expects commodities to rebound next year, says oil and gold prices are ‘extremely attractive’

Goldman Sachs said Monday commodities could surge around 17 percent over the coming months, with a fast-approaching G-20 meeting cited as a potential launchpad for raw materials. A dramatic sell-off in commodities comes at a time when traders are...

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Wells Fargo’s Scott Wren: Oil prices have ‘dropped like a rock’ but are finally nearing bottom

Wells Fargo’s Scott Wren: Oil prices have ‘dropped like a rock’ but are finally nearing bottom

Oil prices have “dropped like a rock” over the past seven weeks but are finally approaching a bottom, Wells Fargo strategist Scott Wren told CNBC on Friday. “It’s caught the falling knife,” the senior global equity...

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Saudi Arabia To Raise Oil Shipments To China

Saudi Arabia To Raise Oil Shipments To China

Saudi Aramco will sign five crude oil supply agreements with Chinese customers, it said in a statement on Wednesday, taking the volume of its 2019 China crude oil supply agreements to 1.67 million barrels per day. Saudi Arabia sealed deals with...

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India’s crude oil imports rise to highest level in at least 7 years

India’s crude oil imports rise to highest level in at least 7 years

India’s crude oil imports in October rose to their highest level in at least more than seven years, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Tuesday. Crude imports in October climbed 10.5 percent...

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