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Shale drillers keep output high despite oil price decline

Companies said they expect to pump more from their prime properties while cutting back in their least productive prospects.  More »

Oil slide prompts Iran’s oil minister to visit UAE

OPEC producers have stepped up their diplomatic visits before the group’s meeting in Vienna, potentially seeking a consensus on how to react to oil prices at a four-year low.  More »

U.S. drillers shift oil rigs to tap most reliable fields

The oil-rig count has fallen from a peak of 1,609 on Oct. 10 as companies slow drilling in response to a 26 percent slide in crude prices over the past four months.  More »

Keystone left behind as Canadian oil pours into U.S.

The expansion shows Canadians are finding alternative entry points into the U.S. while the Keystone saga drags on.  More »

Putin says Russia preparing for “catastrophic” oil slump

Russia is struggling under the weight of a plummeting ruble and sanctions imposed over the conflict in Ukraine.  More »

Brent rises amid speculation OPEC will react to oil price

Oil has collapsed into a bear market as leading members of the Organization of Petroleum Exporting Countries resisted calls to cut production and U.S. shale boom lifted output to the highest level in three decades.  More »

Brent extends drop below $80 as OPEC seen resisting cuts

Oil sank into a bear market as leading OPEC members resisted calls to cut production and instead reduced export prices to the U.S.  More »

Saudis reject talk of OPEC market share war as oil slides

Brent crude futures plunged below $80 yesterday for the first time since September 2010 on concern OPEC is in no hurry to halt a four-month slide in prices.  More »

Saudi Arabia leads OPEC cuts before meeting

Brent crude futures, used to price more than half the world’s oil, traded near a four-year low Wednesday on speculation that OPEC’s biggest members will refrain from paring output to drain a global surplus.  More »

China seen overtaking U.S. as world’s biggest oil user

Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said.  More »

Fossil fuels with $550 billion subsidies hurt renewables

The findings highlight the policy shift needed to limit global warming, which the IEA said is on track to increase the world’s temperature by 3.6 degrees Celsius by the end of this century.  More »

Threats to global oil supply still exist, IEA says

The U.S. shale boom masks threats to global oil supply including Middle East turmoil, conflict in Ukraine and the difficulty of unconventional oil production beyond North America, the International Energy Agency said.  More »

Former Russian finance minister tells Rosneft to keep hands off $44B from rainy day fund

For Rosneft, the timing of the economic sanctions against Russia couldn’t have been worse: the company has to repay almost $30 billion in loans by the end of the next year, debt racked up in the 2013 purchase of competitor TNK-BP.  More »

Canadian heavy oil boosted as Imperial shuts Kearl operation

Operations were suspended after vibrations were detected in an ore crusher unit at the site, the company said in an e-mailed statement.  More »

U.A.E. concerned that oil glut may curb exploration, production

“What worries us is that some investors will not continue to invest,” United Arab Emirates’ Energy Minister Suhail Al Mazrouei said.  More »
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