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The Washington D.C.-based World Bank lowered its expectations for 80 percent of the commodities it tracks amid signs of slowing growth in emerging economies, which have bolstered commodity prices for more than a decade and a half.
Some business deals are ready to be inked but others are still in negotiation as a few sanctions not related to the nuclear program remain in place, particularly by the U.S., on the trade of goods that could be used for military or intelligence purposes.
Higher oil prices and some positive earnings news from U.S. companies are helping to send the stock market higher.
The budget cut lines up with projections forecasting deep spending reductions in the industry this year.
Sixty years to the day after Buddy Holly’s first official recording session took place, and “Blue Days, Black Nights” have become a common occurrence for the crude complex of late. Prices are bucking that trend for now, however, and we are seeing a morning in the green. Last night was certainly dark times for the […]
Saboteurs represent the latest hassle Western Canada faces in getting its crude to coastal markets as plans to build new pipelines are stymied by environmental and legal challenges.
Joint ventures between oil and gas explorers in the U.S. and their foreign counterparts helped fuel the shale boom. They’re coming back in a new iteration for the bust.
Russia, which relies on oil and natural gas for almost half its fiscal revenue, ran a budget deficit of 2.6 percent in 2015, the highest in five years.
About 56 percent of 920 global energy executives surveyed believe too many companies are short-sighted about making quick cutbacks, said the “A New Reality” report from DNV GL, a leading technical adviser to the industry. Nearly three quarters of those surveyed said a new phase of budget management is needed to prepare to succeed in a sustained period of low oil prices.
The 35 percent capital budget cut from last year comes amid the ongoing oil crash and just two weeks after Moody’s Investor Service downgraded Williams’ credit rating. Williams said it is slicing its capital budget from $3.3 billion down to $2.1 billion for the year.