Oil Prices Jump on Risk of Libya Output Shortage
"The violence in Libya is captivating the market," one analyst says as the benchmark Brent and WTI crudes hit five-month highs.
Oil Prices Dip Into Bear Market Territory
The price of WTI crude fell for the 10th consecutive session, the longest streak of declines since 1984.
Iran Deal Concerns Push Oil Prices Above $70
“It is mostly a fundamentals-driven market, but the icing on the cake is the worry about Iran."
Exxon Shares Drop 3.7% on Another Profit Miss
In the first quarter, the benefits of higher oil prices were offset by weakness in Exxon's chemicals and refining businesses.
U.S. Oil Production to Hit New Record in 2018
With the shale boom continuing, the IEA says the U.S. will overtake Saudi Arabia as the world's No. 2 producer.
U.S. Shale Surge Drives up Global Oil Supply
The International Energy Agency warns that U.S. shale production could complicate OPEC's efforts to restrain output.
Oil Rig Operator Seadrill Files Chapter 11
The company believes its restructuring plan will put it in a strong position to capitalize when oil prices rebound.
Total Adds North Sea Assets With Maersk Buy
The $4.95 billion acquisition of Maersk Oil will make Total the second-largest producer in the North Sea.
Exxon Earnings Double But Miss Estimates
Oil and natural gas production dropped by almost 1% in Q2, adding to the challenges facing new CEO Darren Woods.
Oil Prices Fall as Crude Stocks Hit New Record
The price of the benchmark crude dropped to the lowest level since OPEC countries agreed to cut output by 1.8 million bpd in the first half of 2017.