Oil Prices Eke Out Small Gains Ahead of Fed Chair Speech

Oil Prices Eke Out Small Gains Ahead of Fed Chair Speech

Oil prices clawed back the previous day’s losses on Friday, with Brent nudging above $60 a barrel, as tighter supplies from key producers offset slowing demand growth while investors await clues from the Federal Reserve on U.S. monetary...

Read more
Alberta’s Smaller Oil Producers Eye Output Boost After Curbs Lifted

Alberta’s Smaller Oil Producers Eye Output Boost After Curbs Lifted

Small and mid-sized Alberta oil producers are looking to increase drilling as early as this autumn after the Canadian province exempted a dozen of them from government-mandated oil production cuts, boosting the struggling industry...

Read more
Oil jumps 2.4% after attack on Saudi field

Oil jumps 2.4% after attack on Saudi field

Oil prices on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces and as traders looked for signs that top economies would take measures to counteract a global slowdown. Prices were limited by a downbeat report by...

Read more
Oil rises 0.7% as Wall Street rebounds, but weak OPEC outlook caps gains

Oil rises 0.7% as Wall Street rebounds, but weak OPEC outlook caps gains

Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns. But oil’s gains were capped after the Organization of the Petroleum Exporting...

Read more
Nearly 600 China-Listed Firms’ Average Net Profit Rose 20% in First Half

Nearly 600 China-Listed Firms’ Average Net Profit Rose 20% in First Half

The 595 Chinese domestic A-share listed companies that released first-half financial reports yesterday logged an aggregate net profit of CNY328 million (USD47 million), up 22 percent from a year ago. Of these, the net profit of 64 increased over...

Read more
Saudi Aramco tells investors it’s ready to go public

Saudi Aramco tells investors it’s ready to go public

Saudi Aramco’s CFO, in the company’s first-ever conference call, on Monday told investors that the company is ready to go public, but that the timing will be up to its owner, the Kingdom of Saudi Arabia. “Basically, the company is ready for the...

Read more
U.S. Oil Drillers Cut Rigs for Sixth Week in a Row: Baker Hughes

U.S. Oil Drillers Cut Rigs for Sixth Week in a Row: Baker Hughes

U.S. energy firms this week reduced the number of oil rigs operating for a sixth week in a row as producers cut spending on new drilling and completions leading to lower production growth forecasts. Drillers cut six oil rigs in the week to Aug...

Read more
Oil Prices Rise on Expectations of More OPEC Output Cuts

Oil Prices Rise on Expectations of More OPEC Output Cuts

Oil prices rose on Friday, supported by expectations of more production cuts by OPEC amid fears the U.S.-China trade row could lead to a global slowdown, curbing demand for crude. International benchmark Brent crude futures, were at $57.61 a...

Read more
OPEC Oil Output Hits Lowest Since 2011 on Saudi Cut, Sanctions: Reuters Survey

OPEC Oil Output Hits Lowest Since 2011 on Saudi Cut, Sanctions: Reuters Survey

OPEC oil output hit an eight-year low in July as a further voluntary cut by top exporter Saudi Arabia deepened losses caused by U.S. sanctions on Iran and outages elsewhere in the group, a Reuters survey found. The 14-member Organization of the...

Read more
Oil Prices Rise Ahead of Expected U.S. Interest Rate Cut

Oil Prices Rise Ahead of Expected U.S. Interest Rate Cut

Oil prices extended overnight gains on Tuesday amid widespread expectations the U.S. Federal Reserve will cut interest rates for the first time in more than a decade this week. Brent crude rose 30 cents, or 0.5%, to $64.01 a barrel by 0013 GMT...

Read more
China’s crude oil output rises in H1, reversing three-year decline

China’s crude oil output rises in H1, reversing three-year decline

China’s crude oil output reached 95.39 million tons in the first half of the year, up 0.8 percent over the same period last year, reversing the downward trend of the past three years, an official said Thursday. Natural gas output was 86.41...

Read more
Do NOT follow this link or you will be banned from the site!