Oil rig counts in the U.S. rose for the first time since December 2014 last week, which could impact year-end price targets.» Read More
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Crude was up again today. Traders say oil seems to be stabilizing around $60, and could hit $70 by the end of the year.
Oil names like Chevron and Exxon Mobil issue dividends that make them steady amid the sector's uncertainty, an analyst said.
April 30- Imperial Oil Ltd, Canada's No.2 integrated oil producer and refiner, on Thursday reported a 55 percent fall in quarterly profit as global crude prices halved. Imperial Oil Chief Executive Rich Kruger said the company, which is 69.6 percent owned by Exxon Mobil Corp, would maintain a cautious spending outlook in the months to come. The company is close to...
WILLISTON, N.D., April 30- Whiting Petroleum Corp, the top oil producer in North Dakota, plans to keep 11 drilling rigs operating through 2016, though it would add "a couple of rigs" if crude prices rise to $70 a barrel, its chief executive said on Thursday. Hess Corp, for example, does not plan to add any rigs this year, while Pioneer Natural Resources Co told Reuters last...
*Brent to average $60, WTI $54.40 in 2015- Reuters poll. *OPEC production hits 2- yr highs in April- Reuters survey. In Thursday's session, Brent was up 60 cents at $66.44 a barrel by 11:12 a.m. EDT.
Oil giants are reporting their earnings this week. Abhishek Deshpande, lead oil market analyst at Natixis, discusses Shell's numbers.
CNBC's Jim Cramer said investors can buy Exxon shares without "getting in trouble," and here's why.
CNBC's Jackie DeAngelis reports natural gas inventories.
It's time for companies to heed the call to invest their cash, says UBS's chief investment officer.
Doug Terreson, ISI Group analyst, breaks down ExxonMobil's better-than-expected quarterly numbers, and provides insight on the energy sector.
Exxon Mobil reports quarterly earnings and revenue that handily topped analysts' expectations.
OPEC oil supply in April has jumped to its highest in more than two years, boosted by record or near-record supplies from Iraq and Saudi Arabia.
April 30- Canadian oil producer Penn West Petroleum Ltd's first-quarter loss nearly tripled due to lower production and a slide in crude prices. Penn West's cash flow from operating activities, a measure of its ability to pay for drilling and other projects, fell to C $156 million, or 22 Canadian per share, in the first quarter, from C $222 million, or 55 Canadian...
Mike Scialla of Stifel forecasts oil will continue to climb and says that the previous downturn was due to a combination of supply growth in the U.S. and slack demand worldwide.
*Brent crude oil seen averaging $60/ barrel, WTI $54.40 in 2015. April 30- Oil is likely to stay relatively weak for at least the next year, a Reuters poll forecast on Thursday, suggesting a slowdown in oil production in the United States will not be enough to offset a global supply glut. The price crash has forced some exploration companies to stop drilling for oil and...
LONDON, April 30- U.S. crude oil hit a five-month high on Thursday as the dollar slipped to its lowest since February and as more evidence emerged of a gradual balancing of the U.S. domestic market. Brent crude oil was up 25 cents at $66.09 a barrel by 0830 GMT. U.S. crude oil, also known as West Texas Intermediate or WTI, hit a high of $59.40 a barrel, its highest since Dec. 12,...
Paddy Rodgers, CEO of Euronav, says the shipping firm saw their best quarter since 2008 thanks to low oil prices.
Profits from refining and trading rose to $2.65B from $1.575B a year earlier, offsetting a sharp drop in oil and gas production earnings.
*Japan factory output down for 2nd month. SINGAPORE, April 30- Oil prices slipped away from five-month highs in early Asian trading on Thursday as Japanese factory output weakened for the second straight month. Brent crude futures dropped 26 cents from their last settlement to $65.58 a barrel by 0307 GMT.
SINGAPORE, April 30- Oil prices slipped away from five-month highs in early Asian trading on Thursday as Japanese factory output weakened for the second straight month. Brent crude futures dropped 41 cents from their last settlement to $65.43 a barrel by 0105 GMT. WTI crude was down 13 cents at $58.45 a barrel.