As the oil-price slump continues, members of the cartel of petroleum producers have struggled to solve the crisis of supply and demand.
The CEO of the world’s largest oil company said Tuesday it is eyeing expansion around the world and is planning “significant growth” in output in 2016.
The supervisory board of Saft unanimously approved the takeover by the French oil giant, the companies said in a joint statement Monday.
Price of crude is on course for its strongest monthly performance since last April.
In the first quarter, the British oil giant reported a net loss of $485 million, beating analysts’ estimates significantly.
Hopes for limits on oil production were dashed Sunday as major oil producers decided to put off any decisions until the June OPEC meeting.
Oil Prices: US Crude Hits 2016 High After Report That Saudi Arabia, Russia Have Agreed To Production Freeze
Global oil prices rallied after a report that top producers Russia and Saudi Arabia agreed to freeze output ahead of a much-anticipated meeting.
Investors nervous after deadly blasts in Brussels prompted a flight towards so-called safe-haven assets such as gold.
The state-controlled oil company is at the epicenter of the country's massive corruption scandal.
Despite the global oversupply, Iran has accelerated production as it seeks to recover the output it lost under Western sanctions.
International Energy Agency Says Oil Price May Have Bottomed As Shrinking US Supply Erodes World’s Crude Glut
The price of oil may have already bottomed as shrinking global supplies — particularly from the U.S. — erode the world’s glut of crude, the International Energy Agency says.
Government ministers have reportedly approached U.S. corporations in a bid to replace Saudi Arabia's battered oil revenue with American investment.
Oil Markets: US Crude Price Drops Below $27 A Barrel, Lowest Since September 2003, On Oversupply Fears
The slide of more than 25 percent in oil prices so far this year has piled more pain on oil drillers and producing nations.
The International Energy Agency left its estimate of growth in global demand for 2016 unchanged from its previous monthly report.
U.S. equities got hammered in Friday's session joining a global sell-off as investors worry about China and oil prices. Jeanne Yurman reports.
Unseasonably warm weather undercut sales of winter apparel, and cheaper gasoline weighed on receipts at service stations.
The market braced for increased Iranian oil exports, with the lifting of international sanctions possible within days.
U.S. stocks rallied as investors snapped up battered shares, including those of oil companies Exxon Mobil and Chevron.
The bearish outlook for oil, however, remains after the U.S. government forecast Tuesday that the global glut will swell until late 2017.
With petroleum prices set to remain sluggish in 2016, producers will continue to feel squeezed while consumers could continue saving cash.
Falling crude prices could weaken investment in new technologies needed to reach U.N. climate change goals set in Paris.
Will the Government Shut Down? House Republicans May Need Democratic Help To Pass Omnibus Spending Bill
Democrats and Republicans reached an agreement Tuesday night, but there's still time for things to be derailed.
Nervousness is growing in global markets before an expected U.S. interest rate hike later this week.
Global stockpiling of oil hit a 10-year peak with crude prices firmly below the $50 per barrel level this year, according to a report by the International Energy Agency.
Environmental activists and Democrats had been hoping the president would reject the project before global climate talks in Paris this month.
Will Obama Reject TransCanada's Keystone XL Pipeline Request To Suspend Permit Application? Here's Why It Matters
TransCanada's request to suspend its Keystone XL application was interpreted by many as an admission that the company expected a rejection from President Barack Obama.
Experts say the reserve of 695 million barrels helps prevent volatility in crude oil markets and has a part in maintaining the global oil balance.
Justin Trudeau, Canada's prime minister-designate, has far different environmental policy ideas than Stephen Harper, which could mean trouble for the pipeline plan.
In the biggest three-day rally since 1990, U.S. oil prices extended their gains Monday after data revealed crude output was lower than previously expected.
The price of crude oil recovered slightly from Monday's record lows but prices are predicted to fall further to 2008 levels.