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  • LONDON, Dec 9- Oil prices rose on Wednesday on strong Japanese economic data and lower crude oil storage figures from the United States, but many investors expected a fall to below 2008 lows due to a mounting global supply glut. Brent crude oil futures were up 36 cents at $40.62 a barrel at 0951 GMT. Official figures from the U.S. Energy Information Administration...

  • NEW YORK, Dec 8- Price swings in the energy market weighed on stocks and exchange-traded funds again on Tuesday, hitting the shares of oil producers for the fifth consecutive trading day. Markets in energy-infrastructure stocks were active as well, as Kinder Morgan lost 6.5 percent. Exxon Mobil Corp fell 1.9 percent, Chevron Corp was down 1 percent and...

  • NEW YORK, Dec 8- The U.S. government on Tuesday raised its projected decline rate for crude oil production next year, furthering a year-long rout that has pressured benchmark prices to near a seven-year low. In its short term energy outlook, the U.S. Energy Information Administration said that production in 2016 would fall by 570,000 barrels per day to 8.76...

  • *Saudi raises supply to Asia by a few million barrels- source. SINGAPORE/ TOKYO, Dec 8- Saudi Arabia is shipping more crude oil to Asia over the last two months of the year as strong refining margins boost demand, trade sources said, helping the top oil exporter defend its market share amid fierce competition. "There is a bigger call for Saudi crude as monthly supply...

  • *OPEC maintains near record output. NEW YORK, Dec 4- Oil prices fell on Friday after news that the Organization of the Petroleum Exporting Countries was planning to maintain its production near record highs despite depressed prices, as OPEC continued to guard its share of an oversupplied market. OPEC's announcement sent ripples through wider markets and...

  • On Friday, OPEC decided to keep production near record highs despite depressed prices, as a way to boost market share by forcing rivals to reduce output. Drillers removed 10 oil rigs in the week ended Dec. 4, bringing the total rig count down to 545, the least since June 2010, oil services company Baker Hughes Inc said in its closely followed report.

  • OIL DRILLERS CUT RIGS FOR THIRTEENTH WEEK IN THE LAST 14- BAKER HUGHES.

  • OIL DRILLERS ADD RIGS FOR FIRST WEEK IN THREE DESPITE WEAKER CRUDE PRICES- BAKER HUGHES.

  • *OPEC maintains near record output by raising ceiling. NEW YORK, Dec 4- Oil prices fell on Friday after news that OPEC was planning to maintain its production near record highs despite depressed prices, as the producer group continued to seek share of an oversupplied market. Energy company shares, including those of U.S. oil major Exxon Mobil and oil service...

  • *OPEC widely expected to maintain output. LONDON, Dec 4- Crude oil prices rose on Friday as OPEC ministers met in Vienna, while the dollar hovered near one-month lows a day after staging its largest one-day fall in nearly seven years. OPEC was not expected to change its unchanged output policy, but nervousness among traders and investors ran high.

  • *China taking advantage of cheap oil to build strategic stocks. SINGAPORE/ BEIJING, Dec 4- China is likely to double its strategic crude oil purchases next year as one of the biggest ever price routs spurs a buying spree that would offer some support to battered markets for the commodity. Any sign of fresh buying for China's strategic reserves would offer rare...

  • *China taking advantage of cheap oil to build strategic stocks. SINGAPORE/ BEIJING, Dec 4- China is likely to double its strategic crude oil purchases next year as one of the biggest ever price routs spurs a buying spree that would offer some support to battered markets for the commodity. Any sign of fresh buying for China's strategic reserves would offer rare...

  • Online video images showed thick black smoke billowing into the sky from the plant in Orla, Texas, owned by Western Gas Partners LP, a unit of Anadarko Petroleum Corp.. Anadarko's master limited partnership, Western Gas Partners LP acquired the plant as part of its $1.5 billion deal for Nuevo Midstream LLC in 2014.. Units of Western Gas Partners and shares of its...

  • COLUMN-Oil storage business is booming: Kemp Thursday, 3 Dec 2015 | 1:02 PM ET

    Since September 2011, total capacity for storing crude in the United States has expanded by almost 87 million barrels, 19 percent, the EIA reported on Monday. Commercial storage capacity is also expanding around the rest of the world including major trading hubs in Singapore, South Africa and the Caribbean. Most facilities are owned by unlisted private firms or...

  • NEW YORK, Dec 1- A long-sought deal to bring a Caribbean oil refinery out of bankruptcy emerged on Tuesday, unexpectedly including a partnership with U.S. commodity trader Freepoint and handing Asia's biggest oil refiner, Sinopec, access to a huge oil storage facility. U.S. private equity firm ArcLight Capital, together with Freepoint, unveiled plans on Tuesday...

  • Dec 1- Boston- based private equity firm ArcLight Capital, together with commodities trader Freepoint, unveiled plans on Tuesday to buy the Hovensa refinery complex in St. Croix in the Caribbean and turn it into a massive oil storage hub. The partners also said China's Sinopec, Asia's largest oil refiner, has leased 75 percent of Hovensa's existing crude oil...

  • A climate fund offered to European investors by HSBC, the HSBC GIF Global Equity Climate Change fund, holds stock in U.S. oil producer and refiner Chevron Corp, South African energy company SASOL Ltd and British oil and gas producer BG Group Plc. "It is not so much about avoiding companies that are carbon emitters, but about investing in companies that have sought to...

  • More Russian oil drilling shows its resolve to OPEC Monday, 30 Nov 2015 | 6:59 AM ET

    MOSCOW, Nov 30- Russian oil firms are drilling more, showing the world's top crude producer is ready for a longer fight for market share with OPEC, as its industry can carry on even if oil prices reach $35 per barrel. As OPEC prepares to meet on Friday in Vienna, Russia is sending a low key delegation for talks which are very unlikely to result in any output deal.

  • Drillers removed nine oil rigs in the week ended Nov. 25, bringing the total rig count down to 555, the least since June 2010, oil services company Baker Hughes Inc said in its closely followed report. Baker Hughes issued the report two days earlier than usual due to the U.S. U.S. crude prices gained 20 cents after Baker Hughes issued the report, briefly pushing the...

  • Drillers removed nine oil rigs in the week ended Nov. 25, bringing the total rig count down to 555, the least since June 2010, oil services company Baker Hughes Inc said in its closely followed report. Baker Hughes issued the report two days earlier than usual due to the U.S. U.S. crude futures for next year were trading around $47 a barrel, up from $45 last week,...