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Oil trims weekly gain in prices

Oil trimmed its third weekly advance as Canadian energy producers moved to resume operations after wildfires eased. Futures fell 0.9 percent in New York, paring the weekly advance to 2.7 percent. Suncor Energy Inc. is seeking to return most of its workers by next week and begin startup of oil-sands ...

Trump to give first major speech on energy policy

Donald Trump is poised to give his first substantive energy policy speech in North Dakota, a state eager to hear how he can help the industry recover from the worst downturn in a generation. The presumptive Republican presidential candidate is scheduled to speak Thursday as part of the Williston Bas ...

Oil crosses $50 a barrel, then retreats

Oil  rose above $50 a barrel for the first time in more than six months as a decline in U.S. stockpiles accelerated a rebound from a 12-year low. Futures climbed as much as 1.3 percent in New York to $50.21 a barrel, the highest price since Oct. 9. , before retreating.  Crude was trading at ... ...

Crude supplies to dwindle as drillers cut investment

Global crude supplies will start to dwindle in as little as two years, boosting prices, as the industry cuts investment to weather the worst market collapse in a generation, according to Statoil ASA. Oil companies reduced capital expenditure last year and are likely to cut it further this year and n ...

Oil rally continues

Oil extended its advance to near $50 a barrel as weekly U.S. industry data showed crude stockpiles declined, easing a glut. Futures rose as much as 1.7 percent in New York Wednesday, marking a second day of gains. U.S. oil inventories, which are near the highest in 80 years, dropped by 5.14 million ...

Majors vie for Qatar offshore oil field operation

Chevron Corp., Royal Dutch Shell Plc, Total SA, ConocoPhillips and Maersk Oil Qatar submitted bids to operate Qatar’s biggest offshore oil field, according to two people with knowledge of the matter. Qatar Petroleum received proposals from the five oil companies to enter a production sharing agreeme ...

Shell to cut another 2,200 jobs worldwide

Royal Dutch Shell Plc will cut 2,200 more jobs, taking the tally of losses to 12,500 from 2015 to 2016 as Europe’s biggest oil producer continues to adjust to the slump in prices. At least 5,000 jobs will be cut this year, the company said in an e-mailed statement. These reductions are in response t ...

Insurers risk financial stability through energy holdings, report says

U.S. insurers are risking financial stability by holding $459 billion of energy-related investments without considering the “broad and deep” threat that climate change poses to the assets, according to an environmental advocacy group. Ameriprise Financial Inc., Lincoln National Corp. and Voya Financ ...

Crude gains on expectations of falling inventories

Oil climbed before the release of U.S. government data that is forecast to show crude inventories declined, easing a glut. Futures rose 1.1 percent in New York. U.S. crude stockpiles, which are near an eight-decade high, probably slid by 2 million barrels last week, according to a Bloomberg survey b ...

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