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Oil crash wipes $11.7 billion from buyout firms’ holdings

More than a dozen firms have lost a combined $11.7 billion in 27 publicly traded oil producers since June, when crude prices reached this year’s peak before beginning their six-month slide.  More »

Crude extends fourth weekly decline amid supply glut

Oil has slumped about 21 percent since OPEC decided against cutting its production target last month, prompting a plunge in the value of currencies from the Russian ruble to the Norwegian krone.  More »

Libya oil output drops as fighting spreads to third oil port

National Oil Corp. already this month declared force majeure at two export terminals, Es Sider and Ras Lanuf, after an attempt by Islamist militias to capture them.  More »

Oil advances as funds wager on rally

Oil has slumped about 21 percent since OPEC decided to maintain its production target at a Nov. 27 meeting even as the U.S. pumps crude at a record pace.  More »

Geneva’s army of oil traders embraces profits a crash brings

Lower prices have cut financing costs, provided an opportunity to lock in profits by storing fuels and heralded the return of big price swings that can help firms from Vitol Group to Trafigura Beheer BV generate higher returns.  More »

U.S.-Cuba deal shows Venezuelan oil giveaways running out

Venezuela sent about 100,000 barrels a day to Cuba last year in exchange for medical personnel as part of a regional subsidy program to promote the government’s socialist message.  More »

Nabors CEO takes a pay cut

Oil-service companies and rig contractors are preparing for an estimated 25 percent drop in spending next year from explorers and producers after crude prices dropped to a five- year low.  More »

Court OKs $2.86 billion merger between C&J, Nabors unit

C&J Energy’s shareholders shouldn’t have been barred by a judge from voting on whether to approve the deal with Houston- based Nabors, the Delaware Supreme Court ruled today.  More »

Oil crash exposes new risks for U.S. shale drillers

West Texas Intermediate crude, the U.S. benchmark, dropped about 50 percent since June amid a worldwide glut.  More »

Oil rebounds from five-year low as Saudi comments add volatility

West Texas Intermediate, the U.S. grade, climbed as much as 2.6 percent in New York and Brent 2.2 percent in London.  More »

Putin says Russian economy must brace for $40-a-barrel oil

The Russian central bank published a worst-case economic scenario Dec. 15 that envisioned oil prices averaging $60 a barrel until the end of 2017.  More »

Exxon Mobil shows why U.S. oil output rises as prices plunge

Oil companies, while trimming 2015 budgets to cope with the lowest crude prices in five years, are also shifting their focus to their most-prolific, lowest-cost fields.  More »

Oil drops to 5-year low on concern supply glut to worsen

Saudi Arabia, the largest producer in OPEC, will stick to its policy to maintain output, Oil Minister Ali Al-Naimi said.  More »

Saudi Arabia says OPEC won’t give up oil-market share

Global oil markets are experiencing “temporary” instability caused mainly by a slowdown in the world economy, Oil Minister Ali Al-Naimi said.  More »

Enbridge shuts oil pipeline to U.S. after spill in Canada

The 796,000 barrel-a-day pipe carries heavy, medium and light sour crude from Edmonton, Alberta, to Superior, Wisconsin.  More »
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