Category: Crude oil

Brent oil has longest run of weekly losses since ’02

Traders are split on whether Saudi Arabia will deepen the crude price cuts that propelled oil into a bear market this month.  More »

OPEC in ‘price war’ as Iraq says members fight for market

Crude prices have collapsed more than 20 percent from their June peak, meeting a common definition of a bear market.  More »

McClendon’s West Texas venture plans Wall Street debut

Wildcatter Aubrey McClendon’s oil and gas startup in West Texas may be the latest venture in the Permian Basin to beckon for Wall Street investors, sitting astride one of the most lucrative U.S. shale plays.  More »

Chevron’s profits climb 13 percent thanks to refining boost

The second-largest U.S. oil company also benefited from selling off some some of its assets as part of three-year divestment program.  More »

Exxon sees profit rise on refining strength

Exxon CEO Rex Tillerson said that the earnings growth was “driven by higher margins and improved operations in the downstream and chemical businesses.”  More »

Crude falls after Fed ends asset-purchase program

Oil for December delivery dropped $1.08 to settle at $81.12 a barrel on the New York Mercantile Exchange.  More »

Enterprise Products posts higher profits in Q3

The Houston-based MLP reported higher fees in some sectors and an increase in crude volume moving through its pipelines.  More »

ConocoPhillips considers spending cuts in face of falling oil prices

The largest independent said both production and profits rose in the third quarter, but warned it may begin to pull back its budgets in 2015 as prices fall.  More »

New crude export campaign launches

Free-market economists are launching an initiative to tout the promise of crude exports on Thursday, buttressing separate campaigns by oil companies and their allies on Capitol Hill.  More »

U.S. crude output rises to highest since 1980s on shale boom

U.S. crude production climbed to the highest level in at least three decades last week as the shale boom moved the country closer to energy independence.  More »

Statoil suffers first loss on oil-sands project, crude drop

Statoil ASA, Norway’s biggest energy company, reported its first quarterly loss since listing in 2001 after writing down the value of an oil-sands project in Canada and struggling with plunging crude prices.  More »

Anadarko CEO: Lower oil prices could bring more acquisitions

A decline in oil prices may offer up discounts for key acquisitions in Colorado and elsewhere, Anadarko CEO Al Walker said.  More »
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