Tag: crude oil

Geneva’s army of oil traders embraces profits a crash brings

Lower prices have cut financing costs, provided an opportunity to lock in profits by storing fuels and heralded the return of big price swings that can help firms from Vitol Group to Trafigura Beheer BV generate higher returns.  More »

Nabors CEO takes a pay cut

Oil-service companies and rig contractors are preparing for an estimated 25 percent drop in spending next year from explorers and producers after crude prices dropped to a five- year low.  More »

Some Houston stations selling gasoline under $2

According to data compiled by GasBuddy.com, 13 stations in the Houston area listed gasoline prices Thursday under $2 for a gallon of regular.  More »

Putin says Russian economy must brace for $40-a-barrel oil

The Russian central bank published a worst-case economic scenario Dec. 15 that envisioned oil prices averaging $60 a barrel until the end of 2017.  More »

Exxon Mobil shows why U.S. oil output rises as prices plunge

Oil companies, while trimming 2015 budgets to cope with the lowest crude prices in five years, are also shifting their focus to their most-prolific, lowest-cost fields.  More »

Oil drops to 5-year low on concern supply glut to worsen

Saudi Arabia, the largest producer in OPEC, will stick to its policy to maintain output, Oil Minister Ali Al-Naimi said.  More »

Crude resumes slide on concern supply outpacing demand

Trading volatility for both Brent and West Texas Intermediate increased to a four-year high.  More »

Marathon Oil will cut more than $1B from 2015 budget

Marathon Oil Corp. will spend about 20 percent less looking for and producing oil next year, the company said on Thursday.  More »

U.S. talking oil exports just when world needs it least

As members of Congress promise more hearings on repealing the restrictions on oil exports, the world is awash in the stuff.  More »

Oil climbs from 5-year low; oil drop seen as excessive

Brent, the benchmark for half the world’s oil, gained as much as 1.2 percent after closing at the lowest level since May 2009 yesterday.  More »

Oil trades near 5-year low as Russia echoes OPEC output policy

Oil has slumped about 45 percent this year as a surge in shale drilling lifted U.S. output to the fastest pace in three decades amid slower growth in world demand.  More »

Enterprise abandons Bakken pipeline

The proposed line would have run 1,200 miles from the prolific oilfields of North Dakota to the oil transportation hub in Cushing, Oklahoma.  More »

Big oil could chop $930B in projects as prices fall

Global oil markets could lose as much as 7.5 million barrels of crude over the next decade if sunken oil prices stall the slate of new oil and gas projects around the world, a new report says.  More »

Ruble slides again as falling oil prices take toll

The ruble has lost half of its value this year. But the decline intensified in the past months as the economy came under pressure from Western sanctions and plunging oil prices.  More »

Repsol agrees to buy Canada’s Talisman for $8.3 billion

Repsol has been seeking to spend about $10 billion on takeovers since receiving compensation in May from Argentina for the 2012 nationalization of YPF SA.  More »
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