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US oil production News

02 Jan 2018

Oil hits highest since mid-2015, then dips

It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel, buoyed by large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.

12 Dec 2017

Oil tops $65, first time since 2015, on UK pipeline outage

Oil also gained support from expectations the latest reports on US inventories will show a further tightening of supplies.

07 Dec 2017

Oil bounces back from losses prompted by US fuel stocks

Data from the Energy Information Administration (EIA) on Wednesday showed that US crude oil inventories fell by 5.6 million barrels in the week to December 1, to 448.1 million barrels, putting stocks below seasonal levels in 2015 and 2016.

29 Nov 2017

Oil falls on uncertainty over OPEC deal, rise in US inventories

Brent crude futures were down 34 cents on the day at $63.27 a barrel, while US light crude fell 31 cents to $57.68 a barrel.

13 Nov 2017

Oil steady near two-year highs, US supply increase caps rise

Middle East tensions have supported the market, despite concerns that output could rise further.

10 Oct 2017

Oil prices stable as OPEC says market is rebalancing

Traders said that oil prices were supported as the Organization of the Petroleum Exporting Countries (OPEC) said oil markets were rebalancing fast after years of oversupply.

04 Oct 2017

US oil dips below $50 per barrel over doubts recent rally will last

Traders said the drops came over concerns that a third-quarter market rally that had lifted Brent to mid-2015 highs by late September had been overdone.

24 May 2017

Oil prices rise as market expects extended production cut

Oil prices rose on Wednesday, supported by confidence that an OPEC-led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year.

Citgo Petroleum Corp

05 Nov 2014

Citgo auction proceeds even after Venezuelan minister says cancelled

At least three oil companies are still actively bidding for Citgo Petroleum Corp, the U.S. refining arm of Venezuela`s PDVSA, even after the country`s finance minister said that the auction was no longer going ahead, according to three people familiar with the situation.

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