NIGERIA'S SENATE PASSES 2018-2020 BUDGET FRAMEWORK, RAISES OIL PRICE ESTIMATE

Nigeria's Senate on Tuesday in the capital, Abuja passed the government's medium-term expenditure framework for 2018-2020, raising its oil price assumption to 47 from 45 per barrel... READ MORE›

HEY OPEC THE WORLDS LARGEST OIL CONSUMER NEEDS A LOT LESS OIL

Hey OPEC, the World's Largest Oil Consumer Needs a Lot Less Oil... READ MORE›

OPEC'S CLASH WITH U.S. OIL IS NEARING ITS DAY OF RECKONING

There are even signs that OPEC's opponents, the dozens of drillers tapping shale-oil deposits in Texas and North Dakota, are losing momentum... READ MORE›

U.S. STOCKS ERASE EARLY GAINS AS CRUDE RETREATS

Federal Reserve Chair Janet Yellen testifies before the congressional Joint Economic Committee in Washington, and the confirmation hearing for her nominated successor, Jerome Powell, begins... READ MORE›

FIVE THINGS YOU NEED TO KNOW TO START YOUR DAY

In Europe, the Stoxx 600 Index was 0.1 percent higher, recovering from earlier losses in the session... READ MORE›

ARAMCO SEES OIL MARKET BALANCED AS U.A.E. DISMISSES SHALE THREAT

Prices tumbled from more than 115 a barrel in 2014 amid a surge in supplies, including U.S. shale oil... READ MORE›

HEDGE FUNDS GET LESS BULLISH ON BRENT AHEAD OF OPEC MEETING

The OPEC buzz has once again sent Brent crude surging, but hedge funds are playing it cool... READ MORE›

OIL SETS ITSELF UP FOR FALL IF OPEC CAN'T DELIVER CUTS EXTENSION

However, behind the scenes Saudi Arabia and Russia are still debating what course to follow... READ MORE›

OIL TRADES NEAR $58 AS U.S. STOCKPILE DRAW ADDS TO OPEC OPTIMISM

Crude stockpiles fell by 1.86 million barrels last week, the Energy Information Administration said Wednesday... READ MORE›

OIL PIERCES TWO-YEAR HIGH AS SAUDI ROUND-UP RATTLES MARKETS

The arrests raise the specter of instability in the kingdom, said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund, by telephone... READ MORE›

FOUR BRITISH MISSIONARIES KIDNAPPED IN NIGERIA

Britons snatched by unidentified gunman in Nigeria's southern Delta state on 13 October, say police... READ MORE›

NEW IRAN SANCTIONS COULD SEND OIL PRICES HIGHER

Should OPEC decide not to extend the cuts, oil prices could easily drop into the 30s again, according to Brown... READ MORE›

OIL DIPS ON RISING U.S. CRUDE INVENTORIES, PRODUCTION

Traders said a strengthening dollar .DXY weighed on Brent, while rising crude stocks and production in the United States pulled down WTI... READ MORE›

OIL SET FOR STRONGEST THIRD QUARTER SINCE 2004, IRAQ HINTS AT OPEC EXTENSION

Brent crude futures rose 29 cents to 55.43 a barrel by 0800 GMT, while U.S. West Texas Intermediate WTI crude futures were up 42 cents at 49.90 a barrel... READ MORE›

OIL EDGES UP AS OPEC OUTPUT FALLS OFFSETS HURRICANE CONCERNS

The market was assessing Hurricane Irma's effect on demand, even as key refinery restarts in the wake of Hurricane Harvey boosted expectations for crude oil consumption... READ MORE›

OPEC CONFOUNDS SKEPTICS AGREES TO FIRST OIL CUTS IN 8 YEARS

OPEC confounded its doubters and sent crude oil prices soaring by agreeing to its first production cuts in eight years... READ MORE›

OIL DROPS AS U.S. DRILLING GROWTH THREATENS TO COUNTER OPEC CUTS

Oil Drops as US Drilling Growth Threatens to Counter OPEC Cuts... READ MORE›

BRENT CRUDE OIL CLIMBS ABOVE $50 AS OPEC SAID VERY CLOSE TO DEAL

Iran previously suggested it freeze production at 3.975 million barrels a day, or about 200,000 barrels a day above current output, two OPEC delegates said Monday... READ MORE›

OIL CLOSES NEAR $46 AS SHALE REVIVAL CANCELS OUT OPEC EFFORTS

Oil market volatility, as measured by the CBOE Nymex Oil Volatility Index, jumped to the highest level since December... READ MORE›

SAUDI ARABIA HIKES PETROL PRICES BY 40% AT THE PUMP

Saudi Arabia hikes petrol prices by 40 percent at the pump... READ MORE›

OIL BEARS ARE BACK AS PRICES FALL AND DRILLER SHARES TAKE A HIT

The S P 500 Energy Index has lost 14 percent this year, while West Texas Intermediate crude, the U.S. benchmark, has fallen 19 percent... READ MORE›

SAUDI ARABIA HAS PULLED OUT OF PLANNED SUPPLY TALKS WITH RUSSIA, SOURCES SAY

Saudi Arabia wants an OPEC deal in place before conversations with other producers such as Russia, one delegate said... READ MORE›

OIL SLUMPS TO LOWEST THIS YEAR AS TRADERS FOCUS ON RECORD SUPPLY

The crude market is losing patience, Mike Wittner, head of commodities research at Societe Generale SA in New York, said by telephone... READ MORE›

The only major United States antagonist not hurt by the drop in oil prices is North Korea, which imports all of its petroleum... READ MORE›

BRENT PHYSICAL OIL MARKET WEAKENS AGAIN DESPITE OPEC OUTPUT CUTS

Oil traders said OPEC was initially successful, driving oil prices higher and tightening time-spreads... READ MORE›

AFTER 37 YEARS, ANGOLA WILL GET A NEW PRESIDENT. CAN JOAO LOURENCO REDUCE WIDESPREAD CORRUPTION?

Lourenco The MOU has to do with the changes that are occurring in Angola as well as changes in the United States... READ MORE›

NOW THERE'S ANOTHER SOURCE OF OIL THAT'S STARTING TO GET CHEAP

Eni SpA could reach a final investment decision on a 10 billion Nigeria deep-water project by October... READ MORE›

U.S. OIL DRILLERS KEEP PRESSURE ON OPEC WITH RECORD SHALE OUTPUT

Source Bloomberg Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC's efforts to support prices... READ MORE›

OIL JUMPS MOST SINCE FEBRUARY ON OPEC DEAL AS TREASURIES RETREAT

Crude oil surged as OPEC ministers forged a deal to reduce production, igniting a rally in global energy stocks... READ MORE›

OIL PRICES WILL BE MUCH MORE VOLATILE IN 2017

He added that a recent trend of declining Chinese oil production due to low prices could be reversed if the market strengthened... READ MORE›

OIL PRICES TAKE ANOTHER DIVE -- CAN THE OILPATCH TAKE IT?

- Shane Hooker, Sanjel Energy Services But Sanjel is back, albeit in much smaller form... READ MORE›

OIL PRICE FALLS AHEAD OF OPEC MEETING

The drop came as Saudi Arabia indicated it would not push for output cuts to help push up oil prices... READ MORE›

BULLISH CRUDE BETS CUT BY MOST EVER AS PRICE FALLS BELOW $50

The U.S. benchmark slipped below 50 a barrel on March 9 as oil executives gathered in Houston for the annual CERAWeek by IHS Markit conference... READ MORE›

WATCH OUT OPEC THE AMERICANS ARE COMING

Low-cost production has grown in the Permian Basin, while output has declined in the Bakken and Eagle Ford regions... READ MORE›

PUTIN SAYS RUSSIA READY TO JOIN OPEC EFFORT TO LIMIT OIL SUPPLY

Russia, the world's largest energy exporter, is ready to join OPEC in limiting oil production with either a freeze or a cut, said President Vladimir Putin... READ MORE›

THE WORLD'S BIGGEST INDEPENDENT OIL TRADER HAS A WARNING FOR OPEC

What we need is real demand growth, faster demand growth, Kho, the president of Vitol Asia Pte., said in an interview in Kuala Lumpur... READ MORE›

OPEC TRIES TO SALVAGE DEAL AS SAUDIS SAY CUT ISN'T ESSENTIAL

Iraqi Oil Minister Jabbar Al-Luaibi told reporters as he arrived in Vienna that he was optimistic OPEC can reach an agreement acceptable to all members... READ MORE›

THE OPEC DEAL IS FACING ITS BIGGEST TEST

OPEC's strategy to balance the oil market and bolster prices is facing its biggest test... READ MORE›

OPEC ALLIES TO EXTEND OIL CUTS FOR NINE MONTHS TO END GLUT

The Organization of Petroleum Exporting Countries agreed in November to cut output by about 1.2 million barrels a day... READ MORE›

OPEC-RUSSIA DEAL COULD DRAIN ALMOST HALF THE GLOBAL OIL SURPLUS

Full compliance with the deal would mean OPEC crude supply in the first half is about 400,000 barrels a day lower than demand, the data show... READ MORE›

THE WORLD'S BIGGEST OIL KINGDOM REVERSES COURSE

In an effort to get prices off the mat, Saudi Arabia looks to pull back on the amount of crude it pumps... READ MORE›

OIL FALLS BELOW $50 AS SURGING U.S. OUTPUT UNDERMINES OPEC CUTS

Front-month futures in New York fell 6.7 percent this week, the biggest loss since early March... READ MORE›

OIL DROPS BELOW $50 FOR FIRST TIME SINCE DECEMBER ON SUPPLY GLUT

Harold Hamm, the U.S. shale oil billionaire, warned on Wednesday that the industry could kill the market if it embarks on another spending binge... READ MORE›

U.S. STOCKS POST LONGEST SLIDE SINCE 1980, BONDS RISE AMID ANGST

West Texas Intermediate for December delivery dropped 59 cents to settle at 44.07 a barrel on the New York Mercantile Exchange... READ MORE›

IN FIGHT AGAINST U.S. SHALE OIL, OPEC RISKS LOWER FOR LONGER

The output cuts he'd painstakingly arranged with fellow OPEC states and Russia were working so well, he said, they could probably be phased out by June... READ MORE›