OPEC Countries Cutting Output in Bid to Increase Oil Prices
The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Nov. 30, expanding some output cuts into next year.
Oil Climbs as OPEC Tightening Dovetails With US Supply Drop
Crude rallied as lower OPEC production and signs of shrinking U.S. oil inventories bolstered expectations for an end to the global surplus.
Oil Set for Weekly Rise Amid Optimism on Re-Balancing Process
Oil climbed Oct. 13 as dwindling U.S. crude stockpiles and near-record Chinese imports signaled the worldwide glut is eroding.
Oil Jumps After US Gasoline Stockpiles Plunge to 22-Month Low
Oil advanced to the highest level since May after U.S. gasoline stockpiles plunged to a 22-month low and exports of crude and fuels surged.
Oil Breaches $50 as Worldwide Energy Demand Outlook Brightens
Oil topped $50 a barrel for the first time and closed at a six-week high amid heightened optimism that a demand resurgence is in the offing.
Crude Oil Falls After Smaller-Than-Expected US Inventory Drop
Oil slipped after an industry report was said to show a smaller-than-anticipated U.S. crude inventory decline.
Oil Trades at One-Week Low on Signs of Rebound in US Supplies
Oil traded at its lowest in more than a week in New York on signs U.S. production is continuing to recover, undermining OPEC’s efforts to clear a global glut.
Crude Losses Ease as Dollar Drop Offsets US Drilling Boom
Oil eased losses as growth in U.S. drilling was partially offset by a weaker dollar.
Oil Traders Warn There's a Supply Crunch Looming
The oil market is risking a supply crunch as producers cut spending on major projects to focus on short-term low-cost shale output in the United States, some of the top crude and products traders said.
Oil Producers Consider Output Cut Extension as Support Grows
Oil producers pledged to consider extending their pact limiting supply, as half a dozen nations said more time was needed to drain swollen stockpiles.