Oil Prices

Oil Prices Fall on Further Rise in U.S. Drilling, Signs of Slowing Demand

Oil prices fell early on Monday, weighed down by high supplies despite an OPEC-led initiative to cut production to tighten…

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India Could Switch to U.S. and Canadian Oil Suppliers from OPEC

May 23 – OPEC production cuts and the prospect of more expensive oil are pushing India to consider U.S. and…

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Asian Energy Firms Boost Markets on Oil Output Cut Hopes

Energy shares led a broad rally across Asian markets on Monday as oil prices were boosted by growing hopes that an OPEC-led output cut will be extended by another nine months.

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Saudi Arabia Selects 51 Firms to Bid for Solar, Wind Projects

Saudi Arabia – the world’s biggest oil exporter – is looking to cut its dependence on oil to meet the growing electricity demand.

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Russian energy minister expects oil market to stabilize by mid-year

Oil market will stabilize by the middle of 2017 when world’s oil balances in storages will reach the 5-year average…

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Asia Energy News

China may allow private firms to build, operate strategic oil reserves

China’s National Energy Administration released draft rules that would allow private firms to build and operate some of the country’s strategic…

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Chevron looking to divest stake in Thai gas field

Chevron Corp. is considering selling a roughly US$500 million stake in its Thailand natural gas field amid the ongoing slump in…

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United Energy abandons interests in CNPC-led oil project

United Energy Group Ltd. unit United Petroleum & Natural Gas Investments Ltd. has abandoned its participating interests in the Liaohe enhanced…

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US EIA sees 48% increase in world’s energy consumption by 2040

Non-Organization for Economic Cooperation and Development countries, notably China and India, will account for more than half of the projected…

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Saudi Aramco sees opportunities in US, China, India

Saudi Aramco is looking at growth opportunities in the United States, India, Indonesia, Vietnam and China as part of its global…

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Saudis seek to attract oil giants for taking strategic stakes in Saudi Aramco

Saudi Arabia is looking to attract ExxonMobil, China’s Sinopec and BP Plc to acquire strategic stakes in its US$2.5 trillion oil…

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