In major shift, U.S. now exports more oil than it ships in
(Reuters) – The United States last week exported more crude oil and fuel than it imported for the first time on record, according to data released on Thursday, the same…
Oil up as U.S. drilling stalls, Iranian sanctions bite
LONDON (Reuters) – Oil prices rose on Monday as U.S. drilling stalled and investors anticipated lower supply once new U.S. sanctions against Iran’s crude exports kick in from November. FILE…
U.S. oil boom delivers surprise for traders – and it’s costly
LONDON/NEW YORK (Reuters) – The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent WTCLc1-LCOc1 in…
OPEC agrees modest hike in oil supply after Saudi and Iran compromise
VIENNA (Reuters) – OPEC agreed on Friday on a modest increase in oil production from next month after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from…
Oil falls as OPEC, Russia look to raise output amid U.S. surge
SINGAPORE (Reuters) – Oil prices fell on Monday, extending even steeper declines from Friday, as Saudi Arabia and Russia said they may increase supplies and as U.S. production gains show…
Oil prices fall as top three producers look to boost supplies
SINGAPORE (Reuters) – Oil prices fell on Monday, extending a steep decline in the previous session, as the market eyed an increase in output from the world’s three top crude…
Exclusive: BP chief sees shale, OPEC cooling oil markets
LONDON (Reuters) – BP (BP.L) Chief Executive Bob Dudley expects a flood of U.S. shale and the reopening of OPEC taps to cool the oil market after crude rose above…
U.S. East Coast refiners look to Texas crude for discounted oil
NEW YORK (Reuters) – U.S. East Coast refiners are shipping more shale oil from the Gulf Coast thanks to heavy discounts for West Texas crude and are also looking to…