Category: Crude oil

What OPEC’s Thanksgiving meeting means for U.S. producers

The group will decide Thursday whether to maintain its current production quota of 30 million barrels of oil per day or reduce that figure in an effort to boost crude oil prices.  More »

OPEC timeline: War, terror punctuate annual Vienna meetings

The Organization of Petroleum Exporting Countries has had a tumultuous 54-year history.  More »

10 things to know about OPEC’s big meeting on Thursday

The cartel’s meeting on Thursday could be one of the most consequential in years for the oil and gas industry and global politics.  More »

Oil falls after 4 nations fail to pledge output cuts

WTI for January delivery fell $1.69 to $74.09 a barrel on the New York Mercantile Exchange.  More »

Oil price slump to force spending cuts, Moody’s says

Independent exploration and production companies are less willing to spend as oil prices hover around $75 per barrel, particularly in risky shale plays or regions outside of the the core, sweet spot acreage, according to the analysis released Tuesday by the ratings agency.  More »

Russian oil-output cuts to support OPEC seen as unlikely

Brent crude oil futures rose as much as 0.8 percent to $80.30 a barrel in London trading Tuesday.  More »

American Energy snaps up more West Texas oil land for $440M

The deal, expected to close next month, would double Aubrey McClendon’s stake in West Texas.  More »

Tanker dispute lingers as oil policy negotiations begin in Iraq

As Iraq irons out some of its oil policy differences at home with the Kurdistsan Regional Government, the two remain locked in a dispute in U.S. courts over a tanker of crude that arrived nearly four months ago off Galveston’s coast carrying cargo Iraq claims was stolen.  More »

Iran may propose million-barrel daily OPEC cut in Saudi talks

Bijan Namdar Zanganeh and Saudi Arabia’s Oil Minister Ali Al-Naimi will talk on the sidelines of the OPEC meeting in Vienna.  More »

Russia considers joining OPEC oil output cuts in 2015

The world’s biggest crude oil producer may agree to reduce output by 15 million tons in return for tens of millions in OPEC reductions.  More »

Q&A: Oil eventually will lose its place as leading auto fuel

Henrik Madsen, the CEO of Norway’s international shipping and oil field equipment classifier DNV GL, says oil’s best value is as a chemical feedstock, and that eventually natural gas will replace it as a motor fuel.  More »

This 153-Year-Old oil well produces nonstop, in boom or bust

McClintock No. 1, the world’s oldest continually producing oil well, is still going after 153 years.  More »

Oil rises again on Chinese interest rates

WTI for January delivery advanced 66 cents to settle at $76.51 a barrel on the New York Mercantile Exchange  More »

Iran vows to guard oil-market share as OPEC to review output

Iran’s crude output has languished under international economic sanctions that deter foreign energy investors and limit its exports to approximately 1 million barrels a day.  More »

Confused OPEC watchers are more divided than ever

To understand just how contentious next week’s OPEC meeting will be, take a look at the confusion it’s created among professionals paid to predict the outcome.  More »
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