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...
Read moreIf 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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Read moreThe 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...
Read moreSaudi 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...
Read moreSaudi 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...
Read moreThe 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...
Read moreGoldman 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...
Read moreOil 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...
Read moreSaudi 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...
Read moreIndia’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...
Read moreA punishing rout in the oil market could portend a healthy bounce for stocks and crude futures if historical trends hold. Brent and U.S. crude futures have recently tumbled more than $20 a barrel from four-year highs, plunging into a bear market...
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