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Tag Archives: crude prices

Stocks end mixed as crude oil dives and safety stocks fall

NEW YORK (AP) — U.S. stocks swerved between gains and losses Thursday and wound up with a muddled finish as the price of oil plunged. Investors also sold utility and phone company stocks. They have favored those companies all year, especially in the wake of Britain’s vote to leave the European Union last month. Stocks started higher, building on gains ...

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US energy secretary sees oil market coming into balance

Ernest Moniz, Energy Department, oil glut

BEIJING (AP) — The U.S. energy secretary said Friday he sees the global oil market coming into balance over the next year as rising demand catches up with a two-year-old supply glut that depressed prices. Ernest Moniz said supplies should be adequate after the market comes into balance. He said Saudi Arabia has made clear it will maintain spare production ...

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Oil price unlikely to rise much further, global agency says

LONDON (AP) — The price of oil is unlikely to rise much further after rallying almost 90 percent since January, as the global market shows signs of stabilizing, the International Energy Agency said Tuesday. The Paris-based agency, which advises the world’s top oil consuming nations, nudged up its estimate for global oil demand this year in its monthly report. It ...

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Ahead of meeting, OPEC seems close to riding out price slump

OPEC

VIENNA (AP) — OPEC is not yet in safe harbor. But ahead of a top-level meeting, the 13-nation oil cartel appears close to weathering the storm of slumping crude prices that threatened to bankrupt some members and called into question its relevance. After touching a 13-year low early this year, the price of oil has moved steadily upward to its ...

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Exxon, Chevron shareholders reject climate resolutions

Exxon annual meeting

DALLAS (AP) — Shareholders at Exxon Mobil and Chevron rejected resolutions backed by environmentalists that would have pushed the companies to take stronger stands in favor of limiting climate change. Environmentalists took solace, however, that some of their ideas gained considerable support. At Chevron Corp., a resolution asking for an annual report each year on how climate-change policies will affect ...

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Kuwait oil unions end 3-day strike over government cutbacks

KUWAIT CITY (AP) — Oil unions in Kuwait ended a three-day strike over government cutbacks, authorities said Wednesday, though it remained unclear what concessions may have been granted to the workers amid low global crude prices. The state-run Kuwait News Agency reported that the unions ended the strike by praising the country’s ruling emir, Sheikh Sabah Al Ahmad Al Sabah, ...

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Stocks eke out modest gains as focus turns to US earnings

Stocks eke out modest gains as focus turns to US earnings

NEW YORK (AP) — U.S. stocks were steadily higher in early trading Tuesday, as investors worked through the first batch of earnings from the first quarter of the year. KEEPING SCORE: The Dow Jones industrial average rose 42 points, or 0.3 percent, to 17,600 as of 10:09 a.m. Eastern. The Standard & Poor’s 500 index rose two points, or 0.1 ...

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OPEC official: Oil production freeze deal likely to be reached

OPEC official: Oil production freeze deal likely to be reached

KUWAIT CITY (AP) — Kuwait’s OPEC governor is saying members of the oil cartel and other producing countries likely will reach a deal later this month for a production freeze as crude prices sit below $40 a barrel. The state-run Kuwait News Agency quoted Nawal al-Fuzai on Tuesday as saying that oil ministers of OPEC nations and several non-OPEC nations showed interest ...

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Major oil producers to talk output freeze in Qatar in April

Major oil producers to talk output freeze in Qatar in April

DUBAI, United Arab Emirates (AP) — OPEC member states and other major oil producers plan to meet next month to discuss a freeze in oil output levels, Qatar’s top energy official said Wednesday. The gathering, which will build on earlier talks that included major suppliers Russia and Saudi Arabia, reflects a growing sense of urgency among producers to try to ...

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