Bloomberg During the oil price rout, islands in the Caribbean were exhibit A for the longest-lasting glut in three decades, with millions of barrels stored there. Now, that oil is flowing again, a sign the market is rebalancing. Since mid-February, between 10 million and 20 million barrels have left the Caribbean, according to estimates from traders who asked not …

  Bloomberg Oil’s rally above $50 a barrel is running out of steam after Libyan production returns, bringing the focus back to OPEC. Futures in New York extended losses after dropping 0.7 percent on Monday, following a 5.5 percent jump last week. While OPEC output fell by 200,000 barrels a day in March, the decline was helped by cuts in …

  CHIBA / Reuters Inpex Corp’s $37 billion Ichthys Australian liquefied natural gas (LNG) project will start shipping ultra-light crude known as condensate by end-2017 and LNG shipments next year, one of the partners in the development said on Tuesday. The comments from Total Chairman and CEO Patrick Pouyanne suggest further slippage in a project that has in recent months …