Bloomberg OPEC members Iran and Venezuela could lose almost 30 percent of their oil output next year due to US sanctions and economic upheaval, requiring extra supplies from the group’s Gulf members, the International Energy Agency said. In its first detailed forecast for 2019, the IEA said new oil output from outside OPEC — in particular US shale — should …

Bloomberg Exxon Mobil Corp. is dipping its toe in the world of oil trading, hiring executives and showing an appetite for expanding its operations. Yet, the US-based company is moving carefully, still far away from building an in-house trading unit similar to the mighty businesses run Royal Dutch Shell Plc, BP Plc and Total SA. Exxon recently hired Paul Butcher, …

Bloomberg Top US energy regulators declined to endorse the notion that power grids face a national emergency during a Senate hearing, tacitly rebuffing President Donald Trump’s argument to prop up struggling coal and nuclear plants. The five members of the Federal Energy Regulatory Commission were testifying before the Senate Energy and Natural Resources Committee when asked by New Mexico Democrat …