Bloomberg Oil posted a weekly decline as the escalating US-China trade war and swelling American stockpiles overshadowed tanker attacks in the Middle East. Futures settled up 0.4 percent in New York but still closed the week down 2.7 percent. London-traded contracts slid for a fourth straight week. The White House blamed Iran for tanker attacks near the Strait of Hormuz, …

Bloomberg The Organization of Petroleum Exporting Countries (Opec) said that international trade tensions are hurting demand for oil, slashing its estimates for consumption earlier in the year and predicting further challenges ahead. The organization, due to meet in the coming weeks to set production levels for the second half, said demand increased by less than 1 million barrels a day …

Bloomberg From 2008 to 2018 the amount of oil produced by the US, Canada and Brazil almost doubled. These three countries now produce roughly one quarter of the world’s oil, according to BP’s annual Statistical Review of World Energy 2019. The US alone in this time has more than doubled its oil output and effectively grabbed an additional 8 percentage …