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Oil above $48 on OPEC freeze hopes

Oil traded above $48 a barrel as Saudi Arabia’s energy minister said an output freeze would be positive for the market and after a report that Iran will attend an informal meeting next month. Futures fluctuated in New York after rising 1.2 percent Thursday. A freeze will signify that producers are c ...

As oil stablizes, merger deals are back

Multibillion-dollar oil and gas deals are back on the table. More than $11 billion of transactions were announced globally in July as crude’s recovery fueled hopes of a steadier market, Wood Mackenzie said. That’s the highest monthly total this year and brings the amount since May to $32 billion, tr ...

Aramco IPO on track as Saudi Arabia weighs best road ahead, minister says

The initial public offering of Saudi Arabian Oil Co. remains on track while the government considers how to meet all its objectives from the sale of a stake in the world’s biggest oil company, the kingdom’s Energy Minister said. Saudi Arabia hopes to list the company, also known as Saudi Aramco, in ...

Iran minister to join OPEC production talks

Iran’s Oil Minister Bijan Namdar Zanganeh will participate in an informal meeting of OPEC members next month in Algiers, a state news service reported. Producers from the Organization of Petroleum Exporting Countries will meet on the sidelines of an energy policy group in the Algerian capital next m ...

Another glut looms: Solar industry boosts panel production

Solar manufacturers that are ramping up production now face a looming glut of panels, forcing companies to adjust or face dire consequences. Trina Solar, Canadian Solar and  JinkoSolar Holding Co. are among the suppliers boosting output at factories that will expand global capacity by 18 percent thi ...

Millennials getting a rush from trading oil in volatile market

Chris Santos likes a little spice in his investing life. That’s why the 26-year-old Toronto man trades Credit Suisse Group AG’s VelocityShares 3x Long Crude ETN, which offers returns equal to three times the move of the S&P GSCI Crude Oil Index for each day. It’s allowed him to leverage the vola ...

Oil rebounds on speculation Iran might join output freeze

Oil rose, reversing an earlier decline, on speculation Iran may be more willing to cooperate with other producers seeking to freeze output. Prices rose as much as 2.7 percent after Reuters reported that Iran is sending “positive signals” that it may support joint action to bolster the oi ...

Iraq seeks more production in advance of OPEC talks

 Iraq asked international oil companies to boost output just as other OPEC nations are heading for talks amid a global glut. Newly installed Oil Minister Jabbar Al-Luaibi called on companies to increase oil and gas production to boost national revenue, according to an e-mailed statement from the Oil ...

Oil continues to slide on supply worries, OPEC doubts

Oil extended its biggest loss in three weeks before the release of U.S. crude inventory data on Wednesday, while Goldman Sachs Group Inc. cautioned that any OPEC deal to freeze output may only deepen the global oversupply. October futures fell as much as 1.7 percent in New York after declining for t ...

Williams needs ‘Sam Zell’ of energy pipelines, Corvex says

Corvex Management’s Keith Meister said he’s looking for the “Sam Zell” of the energy pipeline industry as he plans to nominate up to 10 people for the Williams Cos. board of directors. The nominations will all be employees of Corvex and will act as placeholders allowing Meister and other ...

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