Posts by Author

Bloomberg

(Alexander Klein/AFP/GettyImages)

Brent extends drop below $80 as OPEC seen resisting cuts

on
Oil sank into a bear market as leading OPEC members resisted calls to cut production and instead reduced export prices to the U.S.
Saudi Arabian Minister of Petroleum and Mineral Resources Ali Ibrahim al-Naimi. (MLADEN  ANTONOV/AFP/Getty Images)

Saudis reject talk of OPEC market share war as oil slides

on
Brent crude futures plunged below $80 yesterday for the first time since September 2010 on concern OPEC is in no hurry to halt a four-month slide in prices.
(Fayez Nureldine/AFP/Getty Images)

Saudi Arabia leads OPEC cuts before meeting

on
Brent crude futures, used to price more than half the world’s oil, traded near a four-year low Wednesday on speculation that OPEC’s biggest members will refrain from paring output to drain a global surplus.
A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

China seen overtaking U.S. as world’s biggest oil user

on
Growth in oil demand to 2040 will also be driven by India, Southeast Asia, the Middle East and sub-Saharan Africa, the IEA said.
(AP Photo/Oded Balilty, File)

Fossil fuels with $550 billion subsidies hurt renewables

on
The findings highlight the policy shift needed to limit global warming, which the IEA said is on track to increase the world’s temperature by 3.6 degrees Celsius by the end of this century.
Yellow oil barrels

Threats to global oil supply still exist, IEA says

on
The U.S. shale boom masks threats to global oil supply including Middle East turmoil, conflict in Ukraine and the difficulty of unconventional oil production beyond North America, the International Energy Agency said.
OAO Rosneft Chief Executive Officer Igor Sechin (Meridith Kohut/Bloomberg)

Former Russian finance minister tells Rosneft to keep hands off $44B from rainy day fund

on
For Rosneft, the timing of the economic sanctions against Russia couldn’t have been worse: the company has to repay almost $30 billion in loans by the end of the next year, debt racked up in the 2013 purchase of competitor TNK-BP.
A row of pump jacks operate in Apache Canada’s Provost field, located in the southeast part of Alberta (Apache Corp.)

Canadian heavy oil boosted as Imperial shuts Kearl operation

on
Operations were suspended after vibrations were detected in an ore crusher unit at the site, the company said in an e-mailed statement.
A worker repairs an oil pipeline at Rumaila oil fields, near the southern city of Basra, Iraq. (AP Photo / Nabil al-Jurani)

U.A.E. concerned that oil glut may curb exploration, production

on
“What worries us is that some investors will not continue to invest,” United Arab Emirates’ Energy Minister Suhail Al Mazrouei said.
Abdalla El-Badri, general secretary of the Organization of Petroleum Exporting Countries (OPEC), speaks during the Oil & Money 2013. (Chris Ratcliffe/Bloomberg)

OPEC’s choice in Vienna meeting will determine role in new oil order

on
The Organization of Petroleum Exporting Countries could reassert control by cutting output, ceding more market share to U.S. shale oil producers.