OPEC
Government, Business, Fuel

OPEC Sees Rival Supplies Growing Most in Five Years in 2019

An oil pump operates in an oil field in Awali, Bahrain Phil Weymouth/Bloomberg News

OPEC expects supplies from its rivals to increase by the most in five years in 2019, with extra oil from the United States alone sufficient to meet the growth in global demand.

Grant Smith | Bloomberg News
July 11, 2018
Business, Fuel

Explosion Occurs in Pipeline to Libya’s Biggest Oil Terminal

Al Zawiya Oil Refinery Shawn Baldwin/Bloomberg News

Libya’s oil industry revival suffered a setback Tuesday after an explosion at a pipeline carrying crude to the OPEC nation’s biggest export terminal. Oil rallied.

Salma El Wardany | Bloomberg News
December 26, 2017
Business, Equipment, Fuel

Oil Climbs to Two-Year High as Stockpiles Fall Before OPEC Meets

Jim Gehrz/Minneapolis Star Tribune/MCT

Oil climbed to a two-year high as U.S. industry data showed crude stockpiles resumed declines and investors awaited a decision by OPEC on extending output cuts.

Ben Sharples and Grant Smith | Bloomberg News
November 22, 2017
Business, Fuel

Oil Dips as Recent Rebound Seen Lending to Global Output Rise

Robert Seale/Bloomberg News

Oil dropped as OPEC’s production increased last month, at a time when U.S. drillers are also ramping up.

Jessica Summers | Bloomberg News
October 2, 2017
Business, Fuel

Oil Climbs From Seven-Week High on Signs US Stockpiles Plunged

Oil Rig Robert Seale/Bloomberg News

Oil extended gains from the highest close in seven weeks as industry data showed U.S. crude stockpiles plunged, easing a glut.

Grant Smith | Bloomberg News
July 26, 2017
Business, Fuel

Oil Declines as OPEC’s Supply Is Seen at Highest Level This Year

Oil ship Shawn Baldwin

Oil declined after tanker-tracker Petro-Logistics SA said OPEC’s supply in July will be the highest this year.

Angelina Rascouet | Bloomberg News
July 21, 2017
Business, Fuel

Oil Steadies Amid Mixed Signals on US Crude Inventories

North Dakota Bakken shale Jim Gehrz/Minneapolis Star

Oil was steady amid mixed signals on U.S. crude inventories, with industry data showing supplies increased last week while government statistics were expected to show a decline.

Bloomberg News
July 19, 2017
Fuel

Oil Extends Rally as Record US Shale Drilling Boom Stutters

Angel Navarrete/Bloomberg News

Oil extended the longest run of gains in six months after U.S. shale explorers paused a record drilling expansion in a sign the boom may be slowing down.

Meenal Vamburkar | Bloomberg News
June 30, 2017