Oil has climbed ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-driven demand destruction falters.
Oil extended losses after its biggest one-day drop in more than two months as growing doubts over the strength of the global demand recovery along with continued weakness in stocks soured market sentiment.
That fatalities and serious accidents are occurring in UK and Norwegian offshore installation decommissioning facilities comes as no surprise.
A decision on whether Shell will be allowed to keep the giant legs of the Brent field in the North Sea forever has been “postponed”.
Oil edged lower -- but was still headed for a fourth weekly gain -- after Hurricane Laura swept through Louisiana and Texas without appearing to inflict major damage on the region’s energy infrastructure.
Taqa has the largest UK decommissioning bill of any North Sea operator this decade, according to Wood Mackenzie.
Oil edged higher as markets in Europe and Asia advanced on signs that the surge in coronavirus cases in the southern U.S. is slowing.
Oil held near a four-month high after speculation the Federal Reserve will keep U.S. interest rates near zero for longer buoyed markets.
Oil was steady after a weekly gain as investors weighed worsening relations between Washington and Beijing and the prospect of more supply against a weakening dollar and signs the virus is easing in the U.S.
Oil climbed to the highest level since early March in London as hopes for an economic recovery from the coronavirus crisis lifted financial markets.
Aberdeen should use a giant decommissioned oil platform as a "first class tourist attraction", according to a long-standing city campaigner.
Oil markets will “barely feel” the impact of additional production by Opec and its allies as demand ramps up across the world, Saudi Arabia’s energy minister said on Wednesday.
A Covid-19 surge in the US creates a dilemma for oil producers going into crunch talks today and tomorrow.
Saudi Oil Minister Prince Abdulaziz bin Salman likes the idea of OPEC+ acting as the central bank of oil. And he expresses admiration for Alan Greenspan, former chairman of the U.S. Federal Reserve.
Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world.
A spike in U.S. coronavirus cases is threatening the oil market’s recovery from its historic plunge into negative territory.
Another relaxation of lockdown rules in some parts of the UK delivered a boost to the FTSE 100 today.
Every day, traders in London congregate at 4 p.m. to buy and sell North Sea oil for half an hour. The window, as it’s known in the industry, is where competition between the most powerful players in the market sets the price of Brent crude.
Top London stocks shrugged off weak UK inflation and a fresh outbreak of Covid-19 in China to notch up a slight gain today.
Markets enjoyed a “Trump bounce” today amid talk of a trillion dollar (£780 billion) infrastructure package in the US.
Oil is heading for the first weekly loss since late April in New York on fears a second wave of U.S. infections could derail a fragile recovery, while swelling stockpiles raised fresh concerns about excess supply.
Crude futures plunged by the most in more than two weeks as jitters reverberated through markets a day after the Federal Reserve provided a gloomy outlook for the U.S. economy.
Oil slumped as an increase in American crude stockpiles to a record high raised fresh concerns about excess supply, while the Federal Reserve forecast a long road to recovery for the U.S. economy.
Oil was anchored near $38 a barrel as expectations U.S. crude stockpiles extended declines offset a decision by Saudi Arabia to cease extra voluntary production cuts by the end of this month.
Oil rose to trade near $43 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, promising stricter compliance to ensure members don’t pump more than they pledged.