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Energy Commodities Oil

  • *Doubts over OPEC effectiveness despite Saudi comments. NEW YORK, April 26- Oil prices rebounded from earlier losses on Wednesday after data showed a larger-than-expected falloff in U.S. crude inventories, a salve for investors after several days of declines founded on worries about the slow pace of global efforts to reduce a glut. The U.S. Energy Department...

  • The company's after-tax cash flow increases by $70 million for every $1 per barrel increase in oil prices, he said. Shares of the New York- based company rose 4.4 percent to $50.78 in morning trading. Excluding output from Libya, Hess produced 307,000 barrels of oil equivalent per day in the first quarter ended March 31, lower than 350,000 boepd a year ago.

  • April 26- U.S. crude oil inventories fell sharply and stockpiles of gasoline and distillates jumped last week as refineries hiked production rates to the highest since November 2015, the Energy Information Administration said on Wednesday. After the data, U.S. crude futures turned positive and by 11:06 a.m., were up 34 cents at $49.90 a barrel while Brent crude...

  • U.S. CRUDE FUTURES TURN POSITIVE AFTER EIA DATA.

  • OIL PRICES REVERSE LOSSES AFTER EIA DATA SHOWS BIGGER-THAN-EXPECTED DRAW IN U.S.

  • *Doubts over OPEC effectiveness despite Saudi comments. Brent crude, the international benchmark for oil prices, was down 50 cents to $51.60 per barrel at 1350 GMT. U.S. inventory data issued late on Tuesday by the American Petroleum Institute weighed on prices and showed the difficulty OPEC and non- OPEC producers are having in eliminating a supply glut despite...

  • *Doubts over OPEC effectiveness weigh despite Saudi comments. Brent crude, the international benchmark for oil prices, eased 50 cents to $51.60 per barrel at 1225 GMT. U.S. inventory data issued late on Tuesday by the American Petroleum Institute weighed on prices and showed the difficulty OPEC and non- OPEC producers are having in eliminating a supply glut...

  • *Total revenue and non-operating income up 28.4 pct to$ 1.28 bln. Excluding output from Libya, Hess produced 307,000 barrels of oil equivalent per day in the first quarter ended March 31, lower than 350,000 boepd a year ago. Gulf of Mexico, Thailand and Guyana and ramp up drilling in North Dakota's Bakken shale field.

  • Hess's average realized crude oil selling price, including the effect of hedging, was $48.58 per barrel in the first quarter ended March 31, up from $28.50 a year ago. Total revenue and non-operating income rose 28.4 percent to$ 1.28 billion, while total costs and expenses fell 13.3 percent to $1.58 billion. Net loss attributable to Hess narrowed to $324 million, or...

  • April 26- U.S. oil producer Hess Corp reported a smaller quarterly loss on Wednesday, helped by an uptick in crude prices and lower operating costs. The net loss attributable to Hess narrowed to $324 million, or $1.07 per share, in the first quarter ended March 31, from $509 million, or $1.72 per share, a year earlier. Excluding production from Libya, net production was...

  • LONDON, April 26- Oil prices edged lower on Wednesday as ample global supplies and data showing a rise in U.S. crude inventories cast doubt on OPEC's ability to tighten the market with output cuts. Brent crude, the international benchmark for oil prices, eased 26 cents to $51.84 per barrel at 1054 GMT. West Texas Intermediate was trading down 24 cents at $49.32 per...

  • View of Abu Dhabi skyscrapers, United Arab Emirates.

    Abu Dhabi has set its sights on developing a booming financial services sector in a continued push to diversify the UAE's oil-dependent economy.

  • LONDON, April 26- Oil prices weakened further on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt over OPEC's ability to cut output and tighten the market. West Texas Intermediate was trading down 4 cents at $49.52 per barrel at 0845 GMT, after gaining 0.7 percent in the previous session.

  • ADGM chair on the influence of the Saudi Arabian economy

    Ahmed Ali Al Sayegh, Abu Dhabi Global Markets (ADGM) chairman, discusses how proximity to Saudi Arabia and the low oil price can benefit his economy.

  • SINGAPORE, April 26- Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability to cut supplies and tighten the market. Traders said a report late on Tuesday by the American Petroleum Institute that U.S. crude oil inventories rose by 897,000 barrels...

  • Not fearful of 2017 outlook: Novozymes CEO

    Novozymes CEO Peder Holk speaks about earnings, adding that he believes that the company will return to its historical growth rates of 6-7 percent.

  • Ahmed Ali Al Sayegh, Abu Dhabi Global Markets (ADGM) chairman, explains how a lower oil price has helped ADGM flourish.

  • SINGAPORE, April 26- Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability to cut supplies and tighten the market. West Texas Intermediate crude oil futures were trading down 13 cents, or 0.3 percent, at $49.43 per barrel at 0416 GMT, after gaining...

  • An excess shipyard capacity continues to plauge the sector but demand remains positive, notes Andreas Sohmen-Pao of BW Group.

  • Rusted out 'pump-jacks' in the oil town of Luling, Texas.

    Oil prices edged higher on Wednesday after government data showed a surprisingly large drop in U.S. crude inventories.