Oil prices rose to new 2019 highs on Tuesday, supported by OPEC supply cuts and falling output from Iran and Venezuela because of U.S. sanctions.Brent crude oil futures were up 16 cents at $67.70 a barrel at 1415 GMT, having earlier risen to a 2019 peak of $68…
Oil prices reversed course on Friday, falling 2 percent as bearish U.S. manufacturing data stoked concerns over global energy demand growth.The ISM manufacturing activity index in February sank to the lowest since November 2016, and was below expectations…
Record U.S. output, exports offset some of OPEC's cuts.Oil prices were broadly steady on Friday as surging U.S. supply and concerns of a global economic slowdown were offset by falling OPEC output.International Brent crude futures were at $66…
U.S.-China trade talks this week also in focus.Oil was close to its 2019 high of almost $67 a barrel on Tuesday, supported by OPEC-led supply cuts although gains were capped by concerns about slowing economic growth that could hit demand.The…
OPEC cut its forecast for 2019 world oil demand on Tuesday due to slowing economies and expectations of faster supply growth from rivals, underlining its challenge to prevent a surplus even as it starts new production cuts.In a monthly report…
Increase Access to All Offshore Energy Sources for American Energy Greatness.National Ocean Industries Association (NOIA) President Randall Luthi issued this statement following President Trump’s State of the Union address:“In his second State of the Union address…
Ecoslops, the producer of recycled marine fuels from oil residues, and Suez Canal Economic Zone signed a new agreement, further to the signature of an agreement for a detailed feasibility study in January 2018.A press release said that the firms…
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions…
The global oil output cut should not be prolonged, the head of Russia's second biggest oil producer, Lukoil, said on Wednesday, Interfax news agency reported.Lukoil would have to cut its output by 30,000 barrels per day by April under the OPEC and non-OPEC oil deal…
Oil prices edged up on Monday, supported by ongoing supply cuts from producer club OPEC and Russia and by a drop in U.S. drilling activity.International Brent crude oil futures were at $60.75 per barrel at 0040 GMT, up 27 cents, or 0.5 percent…
Seismic research vessels hired by Exxon Mobil to explore for oil off Guyana's coast have not returned to the site of a December incident with Venezuela's navy, but they may in the future, Guyana's foreign minister said on Thursday.Guyana, with no history of oil production…
Oil prices climbed around 3 percent on Wednesday as the extension of U.S.-China talks in Beijing raised hopes that the world's two largest economies would resolve their trade standoff.U.S. West Texas Intermediate (WTI) crude oil futures were at $51…
Oilfield products company Forum Energy Technologies said it has sealed a contract to supply a Mojave remotely operated vehicle (ROV) for the Norwegian firm ESEA Marine.Sub-Atlantic Mojave will also be used by ESEA Submarine’s sister company…
Oil fell towards $53 a barrel on Wednesday, under pressure from rising output in major OPEC and non-OPEC producers and concerns about an economic slowdown that could weaken demand.Russian production hit a post-Soviet record in 2018, figures showed on Wednesday…
Oil prices dropped more than one percent on Friday, weighed down by a falling U.S. stock market, while weak economic data from China pointed to lower fuel demand in the world's biggest oil importer.Brent crude futures fell 75 cents to $60.70 a barrel…
