Canada's oil sector will cut its 2015 investment by one third amid plummeting oil prices, The Financial Times reports.» Read More
The lift in prices come after OPEC's Secretary General and the International Energy Agency's chief economist both said they expected prices- hovering at April 2009 lows- to rebound later this year. Total SA joined a raft of international oil companies, including BP Plc and ConocoPhillips, in slashing budgets in light of the recent plunge in prices.
OPEC's secretary-general and the International Energy Agency's chief economist both said they expected prices, currently near their lowest since 2009, to rebound later this year. The cut is "headline-grabbing," analyst Matt Smith of Schneider Electric said, but it will be months before an actual reduction will manifest. Turmoil in Yemen further added to the...
European equities rallied after a volatile session of trade on Thursday to close sharply higher, following action from the Swiss National Bank.
European equities closed sharply higher on Tuesday, with a surge in retail stocks helping to boost investor sentiment.
A surge in U.S. gasoline and diesel supplies spells more trouble for oil prices but is good news for consumers.
Oil's dramatic fall in price will have serious effects on revenues and spending in the sector, according to industry analysts.
Wall Street is getting more bearish on the outlook for oil prices and some strategists see the market many months away from finding a floor.
Oil futures plunged on a surge in supplies of U.S. oil and a record level of gasoline.
European shares closed higher on Tuesday, with revised growth data from the U.S. and record gains on Wall Street boosting sentiment.
Shale oil firms in the U.S. will suffer in the next two years due to the dramatic fall in the price of the commodity, according to Dennis Gartman.
OPEC talked down the oil market, sending crude sharply lower, while warm weather and growing supply battered natural gas prices.
Trying to pick a bottom in energy stocks: is this the time to go long?
FORT MCMURRAY, Alberta, Dec 16- The boomtown in the heart of Canada's oil sands region is getting nervous. Fort McMurray, surrounded by the boreal forest of northern Canada, has long drawn thousands with jobs that paid six-figure salaries to a region that produces more crude than anywhere else in the Western Hemisphere. Suncor Energy Inc, Total SA and Statoil ASA...
European stock markets closed sharply lower on Friday, as commodity prices continued to fall and and shares in oil-related firms tanked.
A continued fall in the price of oil and a rout in Chinese stocks weighed on investor sentiment, with global equities seeing heavy losses.
Oil and gas exploration projects worth more than $150 billion are likely to be put on hold next year as plunging oil prices render them uneconomic.
European shares closed largely flat on Friday, although oil majors fell sharply after OPEC decided not to cut its output target.
European shares closed higher on Thursday, even as a further fall in oil prices led to heavy selling in the energy sector.
Nov 13- SunPower Corp, the second-largest maker of solar panels in the United States, forecast a much lower-than-estimated 2015 profit. SunPower, majority owned by French energy giant Total SA, expects to earn between $1.10 and $1.50 per share, excluding items, in the next year. SunPower also expects to report full-year gross margin in the range of 21-23 percent,...
Oil production is at the highest in a decade in Nigeria, but the surge is not likely to last long.