Bloomberg Petroliam Nasional Bhd.’s decision to back out of a giant gas-export project on Canada’s Pacific Coast is the latest hit to the country’s energy sector — and to Prime Minister Justin Trudeau’s plan of balancing energy exports and climate action. The Malaysian state-run oil and natural gas producer cited an “extremely challenging environment” of low prices and other changes …

HOUSTON / Reuters Indonesia is open to rejoining the Organization of the Petroleum Exporting Countries as long as it is not forced to curb its own crude oil production, the nation’s energy and mineral resources minister said. “We would have to have a concession for not following cuts from time to time,” the minister, Ignasius Jonan, said in an interview …

Bloomberg Oil extended gains from the highest close in seven weeks as industry data showed US crude stockpiles plunged, easing a glut. Futures climbed as much as 1.4 percent in New York after rising 4.6 percent in the previous two sessions. Inventories tumbled by 10.2 million barrels last week, the American Petroleum Institute was said to report. If the decline …