Category

Two years ago, when a global oversupply sent oil prices into a downward spiral, OPEC opted to keep its wells flowing to compete with the rapid growth of USA production. Following a deal, crude oil prices experienced one of the biggest rallies, as traders hoped that a production...

OPEC agreed to reduce collective production to 32.5 million barrels per day, Iranian Oil Minister Bijan Namdar Zanganeh said in Vienna on Wednesday.

The Organization of the Petroleum Exporting Countries has agreed on a cut in oil production, a move that rapidly sent the price of oil above $50 per barrel. “This will be the first time since 2008 that OPEC would be accomplishing such a feat which is expected to tackle the...

“While we acknowledge that OPEC’s record of delivering on production cuts has historically been poor, on a net basis we expect this to tighten crude markets”, said Scott Darling, the head of Asia-Pacific oil and gas research at J.P. Morgan.

Oil priced near US$50 means USA onshore output would remain flat next year, and while the Permian could still rise even if prices drop, the Bakken and the Eagle Ford need oil at US$60 to raise their production in 2017, Garrett Golding, vice president at The Rapidan Group, said.

“For months now the the advance-decline line and up-down volume have significantly dropped off and diverged from price”.

The Institute for Supply Management’s index increased to 53.2 from 51.9 a month earlier, the Tempe, Arizona-based group’s report showed Thursday.

A blackout on opinion polls was imposed two weeks before the vote, at which time the “No” camp was leading by up to 11 percentage points.

US President-elect Donald Trump is putting together what will be the wealthiest administration in modern American history.

US President-elect Donald Trump is putting together what will be the wealthiest administration in modern American history.

Electronics giant Samsung is planning a call to update investors on its “strategic” plans for the future amid a push from US hedge fund Elliot Management to split the company in two. It has no plans to consider at parent level a merger of a holding company with...

British Columbia Premier Christy Clark has not taken a position on Kinder Morgan’s project, instead laying out five conditions for approval of any new oil pipeline through her province.

OPEC will meet with non-OPEC producers on December 9. There is still more supply than demand – the reason oil prices collapsed beginning in mid-2014. OPEC gave up assigning quotas in part because members have ignored them in their quest for petrodollars.

All roads in the country, including areas devastated by the fire, will be open to property owners tomorrow, officials said. The name of this fire is unclear, but it is reported to be in the Cobbly Nob area.

Trump and Vice President-elect Mike Pence, the IN governor, will be appearing IN IN to celebrate their deal with Carrier owner United Technologies that will keep IN the US numerous Carrier manufacturing jobs UT had planned to move to Mexico.