NEW YORK Oil prices fell more than 2 percent on Monday, with U.S. crude tumbling below $50 a barrel, on signs of oversupply in the United States and as investor concern over global economic growth and fuel demand grows.
Dec 17 Oil production from seven major U.S.
shale basins is expected to surpass 8 million barrels per day
(bpd) by the end of the year, the U.S. Energy Information
Administration said in a monthly report on Monday.
NEW YORK Oil prices climbed more than 2 percent on Thursday, after data showed inventory declines in the United States and as investors began to expect that the global oil market could have a deficit sooner than they had previously thought.
NEW YORK The sooner-than-expected startup of the extended Sunrise oil pipeline system in west Texas has shifted flows of crude and boosted inventories in Cushing, Oklahoma, close to a one-year high, with traders now bracing for builds into next year.
NEW YORK Oil fell nearly 3 percent in choppy trading on Thursday after OPEC and its allies ended a meeting without announcing a decision to cut crude output, and prepared to debate the matter the next day.
NEW YORK Two major pipelines carrying oil from Canada to the United States resumed operations on Wednesday after brief disruptions due to power outages from severe weather in Saskatchewan, Canada, a day earlier.
NEW YORK/VANCOUVER Two major pipelines carrying oil from Canada to the United States were hit by weather-related disruptions on Tuesday, the latest hit to Canada's oil industry just days after the Alberta government announced forced cuts in crude production.
NEW YORK/VANCOUVER Several oil companies in Canada pushed back on Monday against Alberta's mandated cuts in crude production, warning about excessive government intervention even as the discount on Canadian crudes narrowed sharply on the curtailment plan.