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Oil Prices Face Upward Pressure From Falling Iranian Exports: IBT Poll

Analysts revised upward their WTI and Brent crude forecasts for the fourth quarter of 2018, as concerns over Iran’s supply and lack of action by OPEC continue to lend support.

Oil Prices To Stay Stable In 2018 Despite Iran Sanctions: IBT Poll

Most analysts polled by International Business Times/Newsweek say a weak global demand, stronger dollar and trade war worries will keep a lid on crude oil prices.

Iran Says No OPEC Member Can Replace Its Oil Exports Share

Washington is pushing allies to cut imports of Iranian oil to zero and will impose a new round of sanctions on Iranian oil sales in November.

Weak Oil Prices, US Rhetoric Trouble Iran; China, India To The Rescue

As the rhetoric from the United States gets harsher and oil prices remain weak, Iran is finding some respite by selling larger amounts of crude oil to China and India.

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Fossils Of Beetles Trapped In Asphalt Show L.A.’s Prehistoric Climate Environment

Scientists figured out how old beetle fossils were to learn about the prehistoric climate of Los Angeles, and it looks like it was the same as it is today.

Drilling In The US: Oil Discovery In Alaska Largest Found In 30 Years

Repsol energy said the well could yield up to 1.2 million barrels of oil.

Fracking News: How Dangerous Is The Process? 6,648 Oil, Chemical Spills Caused By Hydraulic Fracturing In Just Four States

A new study found that up to 16 percent of the United States' fracking wells spill chemicals and hydrocarbons.

OPEC Meeting: Oil Prices Fall As Saudi Arabia-Russia Meet Is Canceled

The world’s two largest crude oil producers were scheduled to meet Monday, ahead of the closely-watched OPEC meeting Wednesday.

Asia Shares Slip As US Earnings Disappoint, Dollar Gains

The British pound jumped back from lows in a volatile trading session, though concerns about a “hard Brexit” are likely to keep the currency under pressure.

Asian Shares Mostly Lower, Oil Near 1-Year High On Output Cut Views

Oil prices hovered near one-year highs on growing expectations of an output cut by the Organization of Petroleum Exporting Countries.

Oil Climbs As Venezuela Sees Output Deal, Libya Suffers Clashes

Venezuelan President Nicolas Maduro has said that a deal between OPEC and non-OPEC producers to stabilize output could be announced this month.

Petrobras To Sell 9 Oil Fields As Part Of Divestment Plan To Deal With Debt

The company at the center of Brazil’s massive corruption scandal is currently dealing with a $126 billion debt — the largest in the world oil industry.

Brent Crude Lower On Strong Middle East Oil Output

OPEC’s 13 members meet in Vienna Thursday to set the group’s policy, which is more focused on market share than on influencing prices.

OPEC Controversy: Amid Low Oil Prices And Crude Rout, Russian Executive Warns Of Cartel’s Collapse

As the oil-price slump continues, members of the cartel of petroleum producers have struggled to solve the crisis of supply and demand.

Saudi Aramco Preps For IPO With Global Expansion, Increased Oil Output Plans

The CEO of the world’s largest oil company said Tuesday it is eyeing expansion around the world and is planning “significant growth” in output in 2016.

Total (FP) To Buy Battery Maker Saft (SAFT) For $1.08 Billion

The supervisory board of Saft unanimously approved the takeover by the French oil giant, the companies said in a joint statement Monday.

Oil Price Hits 2016 High Driven By Falling US Dollar, Evidence Of Declining Crude Supply

Price of crude is on course for its strongest monthly performance since last April.

BP (BP) Reports Q1 Net Loss Of $485 Million, Down From $2.1 Billion Profit A Year Ago

In the first quarter, the British oil giant reported a net loss of $485 million, beating analysts’ estimates significantly.

Doha Oil Production Talks Delayed As Initial Draft Runs Into Complications

Hopes for limits on oil production were dashed Sunday as major oil producers decided to put off any decisions until the June OPEC meeting.

Oil Prices: US Crude Hits 2016 High After Report That Saudi Arabia, Russia Have Agreed To Production Freeze

Global oil prices rallied after a report that top producers Russia and Saudi Arabia agreed to freeze output ahead of a much-anticipated meeting.

Oil Prices Rattled By Brussels Terror Attacks Amid Flight To Gold, Other Safe-Haven Assets

Investors nervous after deadly blasts in Brussels prompted a flight towards so-called safe-haven assets such as gold.

Brazil’s Petrobras Lost Record $10 Billion In Latest Quarter Thanks To Slumping Oil Prices

The state-controlled oil company is at the epicenter of the country's massive corruption scandal.

Iran Won’t Consider Oil Production Freeze Until Its Output Tops 4 Million Barrels Daily: Report

Despite the global oversupply, Iran has accelerated production as it seeks to recover the output it lost under Western sanctions.

International Energy Agency Says Oil Price May Have Bottomed As Shrinking US Supply Erodes World’s Crude Glut

The price of oil may have already bottomed as shrinking global supplies — particularly from the U.S. — erode the world’s glut of crude, the International Energy Agency says.