|Day's Range||64.60 - 65.74|
By Josephine Mason and Meng Meng BEIJING (Reuters) - China's crude oil futures, to be launched on Monday, will be a major step in Beijing's years-long push to win greater sway over oil pricing, but for western traders it will likely bring frustration as well as opportunity. Ten foreign intermediaries have registered, including J.P.Morgan, Bands Financial, Straits Financial Services and other Hong Kong based affiliates of domestic brokerages.
By Tom Balmforth LONDON (Reuters) - Oil prices surrendered early gains on Thursday as investors booked profits after this week's rally, but losses were limited by the ongoing efforts of OPEC and its allies to curb supplies. Brent crude futures were down 35 cents at $69.12 a barrel by 1048 GMT after rising to $69.70, which was close to the highest level since the start of February. U.S. West Texas Intermediate (WTI) futures fell 24 cents to $64.93.
The North Sea is set to see more oil and gas projects come online in 2018 than in any of the past five years as the industry increases its spending
Oil majors and large oil traders have completely different visions on future trends in oil demand, as one sees demand peak soon, while the other remains ultra-bullish
The world’s next big offshore boom is about to take place in the South-American country of Guyana, but the country and its rulers might not be prepared for it
Vitol, the largest independent oil trader, is looking to secure long-term supply deals with some of the top players in the Middle East
According to the North Dakota Department of Mineral Resources, the state produced 1,175,638 barrels of oil per day and 2,068,244 thousand cubic feet per day of associated gas in January.
Investing.com - Crude prices rose to the best levels of the session on Wednesday, hitting a six-week high, after data showed that U.S. oil stockpiles fell unexpectedly last week as refinery activity picked up.
In a meeting with U.S. President Donald Trump, Saudi Arabia’s Crown Prince bin Salman noted that the global oil market is close to regaining stability
By Alex Lawler LONDON (Reuters) - Compliance with a global deal to cut oil supply hit a new high in February and an inventory glut is shrinking fast, a joint OPEC and non-OPEC committee said, bringing producers close to the pact's original aim. OPEC and its allies achieved 138 percent of pledged output reductions last month, OPEC said, up from 133 percent in January and the highest since the deal aimed at clearing a glut began in January 2017. The Organization of the Petroleum Exporting Countries, Russia and other non-OPEC producers have extended the pact until the end of 2018, even though OPEC sources say the market is now expected to balance between the second and third quarters.
By Denis Pinchuk MOSCOW (Reuters) - Russia's state oil company Rosneft and Italy's Eni did not make a commercial oil discovery in the Black Sea as the well they were drilling proved to be dry, a source close to the operations told Reuters on Wednesday. Rosneft chief executive, Igor Sechin, has partnered with a number of foreign companies to develop Russia's offshore regions, though western sanctions have forced some of its partners such as ExxonMobil to suspend projects. Sechin has counted on the Black Sea as an area with high potential and any discovery would help send a message that the sanctions will not seriously hamper Rosneft's global standing or cooperation with other global players.
TORONTO (Reuters) - Canada's main stock index rose on Wednesday as higher oil prices boosted energy shares and the Federal Reserve signaled growing confidence in the U.S. economic outlook. * The Toronto Stock Exchange's S&P/TSX composite index closed up 58.92 points, or 0.38 percent, at 15,675.28. * The TSX posted 8 new 52-week highs and 4 new lows. Across all Canadian issues there were 19 new 52-week highs and 34 new lows. * The largest percentage gainer on the TSX was BRP Inc , which rose 9.5 percent, while the largest decliner was Aphria Inc , down 4.5 percent. ...