Oil prices were trading at three-and-a-half year highs on Thursday as investors cheered signs of stronger crude demand from China.
Oil headed for the first weekly advance in a month as U.S. crude stockpiles fell to the lowest level in more than two years and the pace of production gains slowed.
Global Marine Group (GMG), of Essex, has launched a new offshore division in Aberdeen in a further sign of growing confidence in the oil and gas industry.
Engineering services group EnerMech, of Aberdeen, said yesterday new subsidiary MInteg was poised to double the size of its workforce next year.
European banks will be allowed to operate as normal in the UK after Brexit under plans due to be announced by the Bank of England (BoE), it has been reported.
The prospect of US tax reforms has buoyed global stock markets but knocked the dollar, sending UK shares and sterling higher.
U.K. mega-cap stocks are having a tough year, and their laggard days may not be over.
Rotech Subsea is increasingly active in Asia, the Americas and other parts of the world to meet growing global demand for its cutting-edge trenching, excavation and cable grab tools.
Oil steadied below $65 a barrel in London after a volatile week in which the market was shaken by the shutdown of a North Sea pipeline that underpins the Brent benchmark.
The two most critical forecasts of global oil markets offer contrasting visions for 2018: one in which OPEC finally succeeds in clearing a supply glut, and another where that goal remains elusive.
Oil traded near $57 a barrel as U.S. crude output climbed to a fresh record, offsetting a bigger-than-forecast drop in stockpiles.
OPEC predicted that global oil markets won’t rebalance until late next year after boosting forecasts for supplies from the U.S. and other rivals.
Saudi Arabian Oil Co. is asking banks to pitch for roles as coordinators and bookrunners on its initial public offering, people familiar with the matter said, as the state-owned crude producer pushes ahead with plans for the world’s biggest share sale.
Energy giants helped the London market rally higher on Tuesday as investors responded to a choppy day’s trading on the oil and gas markets.
Oil and gas prices have made hefty gains after the market took a double-whammy hit following a European gas hub explosion and the shut down of a major North Sea pipeline.
Global benchmark Brent crude jumped above $65 a barrel for the first time in 2 1/2 years after one of the most important pipelines in the world was shut because of a crack.
When the state-owned oil company of the United Arab Emirates decided to sell a stake in its fuel-retailing unit, it had a lofty valuation target.
Oil is heading for a second weekly loss as investors turn their attention to expanding U.S. oil production and gasoline stockpiles after OPEC last month agreed to extend supply cuts.
Investor exhaustion with poor returns from the oil and gas industry may mean less financing to expand the U.S. shale boom next year, and less of a drive for consolidation.
Oil retreated amid worries that OPEC’s deal to extend production cutbacks may take U.S. shale activity to a whole new level.
UK economic growth is expected to stay “steady but subdued” over the next two years, according to the latest economic forecast from the Confederation of British Industry (CBI).
Oil extended gains following a third monthly advance after OPEC and Russia agreed to prolong production cuts through to the end of 2018 in their fight against a global supply glut.
OPEC and its allies outside the group agreed to maintain oil production cuts until the end of 2018, extending their campaign to wrest back control of the global market from America’s shale industry.
Oil dropped after an OPEC-led coalition of major crude producers left the door open to dropping supply cuts halfway through 2018.
Brent held near $64 after OPEC agreed to extend production curbs to the end of next year, giving the market what it expected.