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Oil falls to lowest level in almost 6 years on global glut

Oil slumped almost 60 percent since June as the Organization of Petroleum Exporting Countries resisted calls to cut output and the U.S. pumped at the fastest pace in more than three decades.  More »

Hedge funds bet oil will fall further

U.S. crude supplies rose by 10.1 million barrels to 397.9 million in the week ended Jan. 16 and the country will pump the most oil since 1972 this year.  More »

U.K. lawmakers urge fracking moratorium

Hydraulic fracturing in shale for oil and gas should be put on hold in the U.K. because of risks to public health and the environment, a panel of lawmakers said.  More »

U.S. crude erases gains following Saudi king’s death

King Salman bin Abdulaziz, who succeeds Abdullah on the throne, said he would maintain his predecessor’s policies.  More »

Oil slips as U.S. crude stockpiles surge most in 14 years

Inventories rose 10.1 million barrels in the week ended Jan. 16, the biggest gain since March 2001, according to the Energy Information Administration.  More »

Venezuela’s Maduro sees U.S. wielding oil as weapon to ‘destroy’ nation

Venezuelan President Nicolas Maduro has avoided substantial cuts to social programs amid the slide in crude, the commodity that provides 97 percent of Venezuela’s dollars.  More »

Oil trader sees no return to $100 crude

Brent crude climbed 0.8 percent to $49.44 a barrel at 10:48 a.m. in London on Thursday. It rose as high as $115.71 in June.  More »

Crude rebounds as U.S. drilling slows

West Texas Intermediate for March delivery gained $1.31, or 2.8 percent, to close at $47.78 a barrel on the New York Mercantile Exchange.  More »

OPEC: Oil won’t sink to $20, but rebound will be slow

Oil slumped almost 60 percent since June as OPEC nations continued pumping amid the highest U.S. production in more than three decades.  More »

U.S. shale oil growth hurts Canadians as well as OPEC

A surge of light oil from North Dakota and Texas is cutting into the earnings of Canadians who turn heavy oil sands into a lighter crude that fetches more from refiners.  More »

Crude rebounds as U.S. drilling slows

Oil has dropped more than 10 percent this year following a decline of almost 50 percent last year, the most since the 2008 financial crisis.  More »

Citgo said to plan $2.5 billion of debt for Venezuela dividend

Citgo Petroleum Corp. is planning to raise $2.5 billion and transfer the funds to its cash-strapped corporate parent, state-owned Petroleos de Venezuela SA, according to a person with knowledge of the matter, Bloomberg News reports.  More »

Iran sees ‘no threat’ from $25 oil

OPEC has made no decision to reduce its production ceiling despite a worldwide supply glut that’s driving down prices.  More »

Iraq pumps crude at record level amid plummeting prices

The Middle East nation, holder of the world’s fifth-largest crude reserves, is rebuilding its energy industry after decades of wars and economic sanctions.  More »

Oil falls after first weekly gain in 2 months

Oil declined from a one-week high in London and New York as Iraqi production advanced to a record, compounding a global supply surplus.  More »
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