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300,000 Iraqi oil barrels signal glut will deepen

Just five days after OPEC decided to maintain production levels, Iraq, the group’s second-biggest member, inked an export deal with the Kurds that may add about 300,000 barrels a day to world supplies.  More »

WTI crude steady after U.S. stockpiles drop from five-month high

Oil fell 18 percent last month as the Organization of Petroleum Exporting Countries maintained its output target, letting prices fall to a level that may slow U.S. production growth.  More »

Oil rises after government report shows U.S. supply drop

West Texas Intermediate oil rose after a government report showed that U.S. crude inventories dropped as refineries bolstered operating rates.  More »

Sub-$50 oil surfaces in North Dakota as regional discounts swell

Crude sold at the wellhead in the Bakken shale region in North Dakota fell to $49.69 a barrel on Nov. 28.  More »

Brent rebounds from $70 as oil rout stutters

Crude is in a bear market as the U.S. pumps the most oil in more than three decades while global demand slows.  More »

Oil rally fizzles as Kurds reach deal on exports with Iraq

The deal allows the shipment of 300,000 barrels a day of Iraqi Kirkuk blend to Turkey’s Mediterranean port of Ceyhan along a pipeline operated by the Kurds.  More »

Saudi-Venezuela OPEC split plays out behind closed doors

The disagreement cements the formation of two camps that had been brewing for weeks within OPEC.  More »

Oil trims rally as investors weigh OPEC’s inaction on supply

Futures dropped as much as 1.4 percent in London, decreasing for the sixth time in seven days.  More »

Nigeria’s allure dulled by oil price, Boko Haram

Seven months since the government rebased its economy to claim it was Africa’s largest, at about $523 billion, the central bank has devalued its currency and pushed the benchmark interest rate to a record 13 percent.  More »

Oil futures rebound from five-year low after OPEC slump

Oil has collapsed into a bear market as the U.S. pumps crude at the fastest rate in three decades while global demand growth slows.  More »

China winning in OPEC price war as hoarding accelerates

The nation’s efforts to boost reserves may increase its imports by as much as 700,000 barrels a day in 2015.  More »

Oil tumbles below $65 as OPEC seen failing to slow shale

OPEC last week resisted calls from members including Venezuela, Iran and Iraq to reduce its production target of 30 million barrels a day at a meeting in Vienna.  More »

OPEC decision creates “new world of oil”

The oil industry and consumers are watching crude markets after OPEC decided not to cut supplies.  More »

Oil falls again on eve of OPEC meeting

West Texas Intermediate for January delivery fell 40 cents to close at $73.69 a barrel on the New York Mercantile Exchange.  More »

Oil boom triggering cowboy shortage across Canada

There’s been a lot of attention paid to how Canada’s oil boom has helped make gasoline cheaper. What many people may not realize is that the boom is also driving up the prices they pay for burgers and steaks.  More »
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