Plunging temperatures across parts of China have sparked an early start to the winter heating season, likely lifting power demand and intensifying the nation’s energy crisis.
Exxon Mobil Corp. expects first-quarter earnings to be reduced by as much as $800 million due to the deep freeze that plunged Texas into darkness last month.
Shell will freeze salaries for most of its employees this year, according to people with knowledge of the matter, as it looks to save cash amid an overhaul of the company.
A meeting between OPEC Secretary-General Mohammed Barkendo and Iran's oil minister has started in Tehran.
Brent oil held its gains as investors weighed the pledge by Russia and Saudi Arabia to cooperate to stabilize global crude markets that fell short of specific measures to bolster prices.
The world’s top two crude-oil producers pledged to cooperate to stabilize global markets, while failing to announce any specific measures to bolster prices.
Saudi Arabia and Russia discussed actions to stabilize the global oil market -- including an output freeze -- at a meeting in China.