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Oil Prices Start to Recover After OPEC Meeting Disagreement

Oil prices regained some ground after steep losses made since Friday in choppy trading ahead of a planned producer meeting on Wednesday aimed at reining in global oversupply. 408 more words

Pubdesk

Why a Coming Gap in the Supply of Oil Is Unlikely

Is the oil exploration & production spending supply hole real and will it result in a production gap in a couple of years?

The oil industry and its analysts have begun to focus on how capital spending has declined so much recently that we could find that we do not have enough oil within a couple of years to meet demand.   93 more words

Oil Production

Oil Tankers Used to Store Millions of Barrels as Land Sites Fill

Oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe amid signs that space in on-land depots is filling up, a ship-operator said. 149 more words

Oil Storage

Oil Prices Slip as Investors Wonder Whether OPEC Deal Will Be Enough

Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb oil production – the group’s first such deal since 2008 – would be enough to rebalance a heavily over-supplied world market. 359 more words

Finance

Saudi Arabia Reportedly Offers to Cut Oil If Iran Freezes Output

Saudi Arabia has offered to lower its own oil production if rival Iran agrees to cap its output this year, in a major compromise ahead of talks in Algeria next week, three sources familiar with the discussions told Reuters. 100 more words

International

Phoenix Petroleum to sell off shipping, industrial park business

PHOENIX Petroleum Philippines, Inc. is selling its shipping and industrial park units to its ultimate parent company Udenna Corp. to pay off debts while focusing on its main business of oil trading and retailing, the company said on Monday.

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News

Oil Prices Fall As Saudi Arabia Dampens Prospects of Output Freeze

Oil prices fell on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month, and as analysts pointed to an ongoing supply overhang that was weighing on markets. 380 more words

Energy