OPEC and its allies will likely delay a supply increase planned for January by three months, according to a survey of oil analysts, traders and refiners.
Crude held onto a rally amid progress on the development of coronavirus vaccines, with investors shrugging off a smaller-than-expected U.S. inventory build.
Oil rose to $45 a barrel in London for the first time in 10 weeks as an apparent drop in U.S. crude stockpiles added to the rally driven by a vaccine breakthrough.
Oil slipped back below $40 a barrel in New York with demand concerns keeping prices in check after crude was swept up in a broader market rally following news of a potential coronavirus vaccine breakthrough.
ConocoPhillips lost $450 million in the third quarter as low crude prices and reduced production during the coronavirus pandemic continued to take a toll on the company's bottom line.
Oil accelerated gains in the wake of a weakening dollar and as Tropical Storm Zeta leads U.S. Gulf crude producers to shut output.
Libya’s oil industry reached a milestone over the past week with the reopening of the last of its oil fields and ports following a truce in a years-long civil war.
International energy services provider Hunting has made further job losses as it continues to battle the dual impact of the Covid-19 pandemic and the oil price slump.
Low prices and dwindling dividends could encourage more investors to move away from oil and gas in favour of renewables, according to a leading oil and gas lawyer.
Oil steadied as Saudi Arabia vowed that OPEC and its partners will do what’s necessary to balance the market.
Oil clung to losses with signs of a shaky U.S. economic rebound and rising global coronavirus cases weighing on the prospect for a demand recovery.
Oil pared losses as shrinking American crude and refined product stockpiles countered troubling signs of a slowing labor market recovery.
Oil accelerated losses with workers in the U.S. Gulf heading back following Hurricane Delta’s landfall and Libya taking a major step toward reopening its biggest field.
Libya took a major step toward reviving its battered oil industry by reopening its biggest field, presenting a new headache for OPEC+ as the alliance of major producers tries to curb global supplies.
Oil advanced to the highest in two weeks as Hurricane Delta heads toward the energy-producing Gulf of Mexico region.
Oil jumped the most since May in New York as President Donald Trump’s prognosis seemed to improve and stirred optimism over the possibility of an economic relief deal in Washington.
Oil held its decline near $39 a barrel in New York, heading for the first monthly loss since April, as the world’s biggest trading houses signaled a meaningful recovery in demand is some way off.
Oil headed for its first back-to-back weekly losses since April’s price rout, driven by a sharp slump in risk sentiment earlier in the week and a patchy demand recovery.
KCA Deutag is working on a restructuring deal with creditors to wipe off more than £1billion of debt.
Oil recovered some of its losses with a rally in equities providing support to prices even as industry data pointed to a surprise increase in American crude stockpiles.
Oil moved back above $40 a barrel in London, as broader markets rebounded from Tuesday’s selloff.
Revenues at Anasuria Hibiscus UK have dropped 98% as the company deferred oil sales in hopes of a recovery in the price of Brent Crude.
Oil rose as production was disrupted by two storms approaching the U.S. Gulf Coast.
Oil fell as economic signals out of Europe and Asia flashed warning signs about the rebound in crude consumption.
Oil, as the world's most heavily-traded natural resource and the bedrock foundation of some of the planet's largest economies, has always had a strong impact on virtually every area of economics and finance. The global oil trade is estimated to be worth something in the region of around $4 trillion a year in revenues, or about 3.8% of global GDP.