Libya's output has skyrocketed to its highest level in more than five years, reaching 1.28 million barrels per day by November, more than double its June production. » Read More
By: Chloe Taylor
Jim Ratcliffe, CEO of Ineos and the U.K.'s wealthiest man, could soon expand his stake in North Sea oil. » Read More |
European stocks moved lower Thursday as investors digested latest news out of Brexit. » Read More |
By: Sri Jegarajah
Saudi Aramco may consider spinning off its growing downstream division, but it needs to complete its planned acquisition of a strategic stake in Saudi petrochemical maker SABIC first, strategists say. » Read More |
The "worst is over" for the crude oil market, which had lost over a quarter of its value since early October, renowned energy trader Mark Fisher says.
The threat of cyber espionage goes above and beyond endangering some of the world's largest oil and gas companies, industry experts warned on Wednesday, saying "entire countries" are being targeted.
OPEC officials quickly sought to reassure energy market participants on Wednesday, as oil prices fluctuated wildly ahead of a much-anticipated meeting between the influential oil cartel and its allied partners in early December.
OPEC's secretary general has told CNBC that oil price volatility is due to anxiety ahead of the 14-member oil producer group's next meeting in Vienna in December.
European stocks moved lower on Wednesday as oil prices moved higher.
"I think we need to trust the decision-making of the joint body because they're not interested in artificially high oil prices," says the CEO of Russian Direct Investment Fund, Kirill Dmitriev.
Global energy demand is set to skyrocket over the next two decades, OPEC said in its latest annual outlook, with India and China the most important contributors to this growth.
Fatih Birol, the IEA executive director, has told CNBC it would be a "miracle" for shale to fill the gap.
Big Oil should do all it can to embrace fast-improving Artificial Intelligence (AI) in the energy industry, according to the United Arab Emirates' (UAE) first minister dedicated to fostering the technology.
The International Monetary Fund has warned that a number of risks could offset economic growth in the Middle East, North Africa, Afghanistan, and Pakistan.
The liquified natural gas (LNG) market has massive potential, leading energy executives said Monday, but warned the commodity is still too expensive for many consumers around the world.
Culp tells CNBC GE has "got plenty of opportunities through assets sales" to reduce the company's leverage.
OPEC and its allies have agreed that technical analysis of the energy market shows a need to cut oil supply from 1 million barrels per day (bpd) from October levels, Saudi Arabia's energy minister Khalid al-Falih said Monday.
Amin Nasser tells CNBC there is a commitment to sell shares in the oil giant.
President Donald Trump is one factor among many impacting oil markets right now, according to Bob Dudley, the chief executive of oil giant BP.
Saudi Arabia is not preparing for a break-up of OPEC, Energy Minister Khalid al-Falih said Monday, adding the group will continue as the global central bank for oil markets for a long time.
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