LONDON / Reuters Oil producers are working to build consensus on extending their deal to reduce supplies, OPEC’s secretary general said, with the potential for continuat- ion throughout 2018 forming a basis for talks. The Organization of the Petroleum Exporting Countries, plus Russia and nine other producers, are cutting oil output by about 1.8 million barrels per day (bpd) until ...

KHOBAR / Reuters National oil firm Saudi Aramco plans to set up a construction company with local and international partners to build non-oil infrastructure in Saudi Arabia, industry sources familiar with the plan said. Saudi and foreign companies have expressed interest in the project, and will form consortiums which apply to take part at a later date, one of the ...

Bloomberg US shale drillers are tapping on the brakes in the wake of a growing investor revolt that’s held down company values, even as they’ve scored historic production numbers. The evidence is stacking up: The latest rig count showed the biggest one-week drop in the Permian Basin in 19 months, while Schlumberger Ltd. and Baker Hughes, the two largest oil ...