Energy

  Bloomberg Oil rebounded from its longest losing streak in two months as uncertainty over an OPEC output deal amid growing US crude stockpiles and the upcoming American election kept markets volatile. US inventories rose by a record last week, and OPEC members claiming exemption from an agreement to limit supplies boosted production in October. While the stockpile gain was ...

  Bloomberg As crude prices continue to get dragged down by a global glut that shows no signs of abating, oil traders may find some profit by going to sea. The market structure for Brent crude, the benchmark for more than half the world’s oil, now makes it viable to store supplies in a vessel to potentially lock in profits ...

  RIYADH / Reuters Saudi Aramco expects oil prices to rebound in the first half of 2017 and for demand to remain healthy following two years of painfully low prices, the state-owned producer’s Chief Executive Officer Amin Nasser said. “The gap between supply and demand is closing … Our anticipation now is that it will be balanced by the first ...

  Bloomberg The OPEC countries claiming exemption from a deal to limit oil production increased output by almost half a million barrels last month, potentially jeopardizing the group’s agreement unless other members deepen their own cuts. Libya, Nigeria and Iran — granted special status after OPEC members reached a supply deal Sept. 28 in Algiers — pumped an extra 400,000 ...

  Bloomberg The green-energy industry is starting to feel the impact of an efficiency drive sweeping Asia, where governments from China to Japan are scaling back subsidies to constrain a boom in installations. Investment in clean-power technologies in Asia slumped 41 percent to $70.1 billion in the first nine months of the year, according to Bloomberg New Energy Finance, which ...

Reuters OPEC officials has approved a document outlining the exporter group’s long-term strategy, in a sign its members are making progress in ironing out differences over how and when to manage production levels and, ultimately, oil prices. The approval of the document has been repeatedly postponed with OPEC price hawks such as Algeria and Iran saying the Organization of the ...

  Bloomberg The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops. Money managers increased bets on lower West Texas Intermediate oil for the first time in five weeks as Iraq joined Iran, Nigeria and Libya in seeking to be excluded from OPEC’s first agreement to reduce output in eight years. ...

  Reuters Iraq published data showing a rare level of detail for its oil production and exports, a week after inviting energy reporters to Baghdad to make a case that the country is pumping more crude than analysts and OPEC acknowledge. The country’s state oil marketing agency released a statement showing September production figures for each of the 26 fields ...

  Bloomberg OPEC’s internal disagreements over how to implement oil-supply cuts agreed to last month prevented a deal to secure the cooperation of other major suppliers. More than 18 hours of talks over two days in Vienna yielded little more than a promise that the world’s largest oil producers would keep on talking. Discussions will continue in late November, just ...

  Luanda / AFP Angolan state-owned oil company Sonangol rode the commodities boom that drove the country’s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis. The Luanda-based company has increasingly been in focus since Isabel dos Santos, the billionaire daughter of long-time President Jose Eduardo dos Santos, was appointed CEO in June. ...