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Oil trades near 5-year low as Russia echoes OPEC output policy

Oil has slumped about 45 percent this year as a surge in shale drilling lifted U.S. output to the fastest pace in three decades amid slower growth in world demand.  More »

Global crude plunges through $60 as producers fail to curb glut

Brent futures slumped as much 3.3 percent to its lowest since May 2009 in London.  More »

Citgo says Conoco probe may ‘freak out’ potential buyers

ConocoPhillips claims Venezuela’s state-owned oil company is trying to avoid paying compensation for assets that former President Hugo Chavez nationalized in 2007.  More »

Benchmark U.S. oil rebounds after slipping below $55

WTI for January delivery gained 83 cents, or 1.5 percent, to $56.74 a barrel at 11:27 a.m. on the New York Mercantile Exchange.  More »

Repsol agrees to buy Canada’s Talisman for $8.3 billion

Repsol has been seeking to spend about $10 billion on takeovers since receiving compensation in May from Argentina for the 2012 nationalization of YPF SA.  More »

Nigeria’s oil unions continue strike that may curtail exports

Any reduction in pumping would coincide with a collapse in the price of Nigeria’s biggest source of revenue.  More »

Energy leaders pledge cooperation despite discord over Keystone

The three-nation talks took place as global oil prices fall to the lowest in five years, possibly putting a dent in the surge of domestic production from shale drilling.  More »

Crude seen falling to $50 in 2015 as OPEC fails to stem glut

Brent futures sank to a five-year low Monday, two weeks after OPEC decided to maintain output even as the highest U.S. production in three decades swells a global surplus.  More »

Oil falls as UAE says OPEC won’t cut output to boost price

Prices have fallen about 20 percent to the lowest in five years since OPEC decided against cutting production to tackle the glut at a Nov. 27 meeting.  More »

Goldman sees U.S. oil output unscathed as costs decline

The slump in benchmark U.S. crude futures, which are down more than 40 percent this year, is driving producers to move drill rigs to lower-cost fields, the bank said in an e-mailed report.  More »

Oil jumps most in two weeks as fighting, strike curb OPEC output

Fighting disrupted exports from Libya’s largest and third-largest crude ports and halted output from some fields, state-run National Oil Corp said.  More »

Crude oil extends drop below $60 as IEA cuts forecast

The IEA reduced its estimate for oil demand growth in 2015 by 230,000 barrels a day on Friday.  More »

Record oil tankers seen sailing to China amid stockpiling signs

There are 83 very large crude carriers bound for Chinese ports, according to shipping signals from IHS Maritime.  More »

WTI oil extends drop below $60 as IEA cuts forecast

WTI has tumbled 20 percent since OPEC decided to leave its output ceiling unchanged last month, resisting calls from members including Venezuela to cut production to stabilize prices.  More »

WTI oil drops below $60 after Saudis question need to cut

OPEC decided against reducing its output quota at a meeting last month, letting prices drop to a level that may slow U.S. production that’s surged to the highest level in more than three decades.  More »
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