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Bloomberg Oil bulls are charging ahead with unprecedented vigor, and the credit goes to OPEC. The signs that the group is winning its tug of war with shale are compelling, and money managers have taken note: Their combined bets on rising prices for West Texas Intermediate and Brent crude reached record levels in December. “At least through the first half ...

Bloomberg Justin Trudeau wants to make reviews of pipeline and other major projects run on time as Canadian producers struggle to get oil to market. The federal government will propose new rules for regulatory vetting of all major development projects in 2018, shortly after parliament reconvenes on January 29, Natural Resources Minister Jim Carr said. Trudeau instructed his ministers two ...

Bloomberg The North Sea’s Forties Pipeline System — one of the world’s most important crude oil conduits — is fully back in business after being shut earlier this month due to the discovery of a hairline crack. “Ineos confirms the Forties Pipeline System is fully operational,” operator Ineos AG said in a statement. “All restrictions on the flow of oil ...

ALGIERS / Reuters Algeria needs to exploit its shale gas resources to offset a surge in local energy consumption that is eating into vital exports, but developing the industry will take time and require far-reaching reforms at the state energy firm. The North African country is a key gas supplier to Europe, but exports have suffered from delays to several ...

DUBAI / Agencies The death toll in a wave of protests that have agitated Iran over the past five days climbed, as security forces clashed with demonstrators rallying in a rare show of displeasure with the country’s leaders. As many as a dozen people may have died. Calls for more demonstrations raise the possibility of prolonged instability. “In the events ...

Bloomberg After a year filled with nuclear provocations that raised fears of a devastating war in Northeast Asia, North Korean leader Kim Jong Un started 2018 on an optimistic note. His call for talks to ensure the success of the Winter Olympics in South Korea next month — and improve overall inter-Korean relations — represented a tactical shift for a ...

Bloomberg German Chancellor Angela Merkel said she’ll team up with France to hold the European Union together and pledged to form her next government “without delay.” Merkel outlined a vision for her fourth term that includes an alliance with French President Emmanuel Macron to strengthen Europe’s economic clout and control migration, while upholding values of tolerance and pluralism within the ...

Bloomberg UK Prime Minister Theresa May is planning to make major changes to her cabinet in the new year, possibly sacking as many as five ministers, according to the Sunday Times. May has decided to bring younger members of Parliament into her government as part of a series of steps aimed at convincing voters she can do more than Brexit, ...

Bloomberg Spanish Prime Minister Mariano Rajoy set in motion the process for convening a new Catalan parliament and said he wouldn’t allow a new separatist administration to blackmail his government. A session to swear in lawmakers in Barcelona will take place on Jan. 17 before a vote days later to appoint a new regional president if there is a candidate, ...

Bloomberg South Africa’s top court found that parliament failed to hold President Jacob Zuma to account for his role in a scandal involving the misuse of public funds on his private home and ordered it to draft rules governing the circumstances under which he could be removed from office. “The assembly did not hold the president to account as was ...