Bloomberg Iraqi Oil Minister Jabar al-Luaibi said he was optimistic there would be a balance between supply and demand by the first quarter of 2018, leading to a boost in oil prices. Global oil inventories have decreased to an acceptable level and there were positive signs that oil market prices would improve significantly in 2018, Luaibi told journalists. A slight ...

Bloomberg Three years after causing an oil-price crash, the shale boom may not be enough to meet rising global demand because the industry has cut back so sharply on higher-risk mega-projects. Discoveries of new reserves were the fewest on record and replaced just 11 percent of what was produced, according to a Dec. 21 report by consultant Rystad Energy. While ...

Bloomberg Hyundai Heavy Industries Co., the world’s second-biggest shipbuilder, fell by a record following its plan to raise about $1.2 billion selling new shares for working capital. Hyundai Heavy intends to sell 12.5 million new shares before the end of March at an estimated price of 103,000 won each, a discount of about 24 percent to the closing level. The ...