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A OPEC logo sits on a sign outside the 167th Organization of Petroleum Exporting Countries (OPEC) conference in Vienna, Austria, on Friday, June 5, 2015. The Organization of Petroleum Exporting Countries has exceeded its own target of 30 million barrels a day for 12 straight months. Photographer: Lisi Niesner/Bloomberg

OPEC didn’t discuss output cuts with other oil producers

Venezuela has proposed a summit between heads of state from OPEC and other oil-producing nations in November to discuss the price needed to sustain future supplies.
(AP Photo/Hasan Jamali, File)

Iran to start oilfield-investor bidding process by late March

Iran, with the world’s fourth-largest reserves of oil, is gearing up to boost output once world powers lift the sanctions they imposed to deter the nation’s nuclear program.
A pro-Russian activist holds a Russian flag as he stands near a statue of Lenin during a rally in the eastern Ukrainian city of Donetsk on March 22, 2014. (AFP PHOTO/Alexander/Getty Images)

Russian minister sees oil prices stuck at $50 “for years”

Faced with the oil-price weakness and sanctions over the crisis in Ukraine, Russian officials are searching for ways to steer the country out of its longest recession in two decades.
(AP Photo/Hasan Jamali)

Genel cuts 2015 oil output forecast

he London-based company said Tuesday it expects to pump 85,000 to 90,000 barrels a day in 2015, compared with a previous forecast of 90,000 to 100,000.
(Photo by Andrew Burton/Getty Images)

Oil Search quarterly sales decline 30 percent

Oil Search, which has a stake in the Exxon Mobil Corp.-operated liquefied natural gasproject in Papua New Guinea, is among companies grappling with a slump in prices amid a surge in new supply.
Iranian Oil Minister Bijan Zanganeh. (AP Photo/Vahid Salemi)

Iran pushes OPEC to curb production to raise prices

“No one is happy” with prices at current levels, Iran’s oil minister told reporters in Tehran.
A dump truck drives through the Suncor Energy Inc. oil sands mine in this aerial photograph taken near Fort McMurray, Alberta, Canada, on Thursday, June 4, 2015. Canadian stocks rose a second day as commodities producers rallied after the price of oil climbed to the highest level this year while gold and copper led metals higher. Photographer: Ben Nelms/Bloomberg

Canadian oil sands rejects Suncor’s $3.3 billion hostile bid

Canadian Oil Sands Ltd. urged shareholders to reject Suncor Energy Inc.’s C$4.3 billion ($3.3 billion) hostile takeover, accusing the larger rival of undervaluing its business and exploiting undisclosed information about a partnership in making a low-ball offer. Suncor’s bid is “wholly inadequate” and has less value than the current market price, Calgary-based Canadian Oil Sands said […]

Saudi crude stockpiles at record high

Saudi Arabia, the world’s largest oil exporter, is storing record amounts of crude in its quest to maintain market share as it cut shipments.
BP CEO Bob Dudley answers journalists'questions at the end of a meeting of the Oil and Gas Climate Initiative (OGCI) in  Paris on October 16, 2015. CEO of 10 global oil and gas companies call for an effective climate change agreement at COP 21, OGCI said on friday  in a press release. (Eric Piermont/AFP/Getty Images)

Group of Big Oil companies pledge support on climate change initiative

Their declaration follows a joint letter that was sent to the top UN official in charge of climate talks earlier this year, in which six European oil companies split from their U.S. peers and banded together to call for governments to agree to carbon pricing.
Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

Playing pass-the-risk in the shale patch

Analysts expect Whiting Petroleum, one of the largest producers in North Dakota’s Bakken shale basin, to spend almost $1 billion more than it earns from oil and gas this year.