Executives at Brazil's Petrobras on Thursday sought to move on from a giant corruption scandal that has plagued the state-run oil company, outlining a back-to-basics recovery plan that left some investors hoping the worst was over.
Energy
Shell pushes on with Arctic exploration as it awaits U.S. permit
Royal Dutch Shell is pushing ahead with plans to explore for oil in the Arctic Ocean near Alaska this summer despite opposition from environmental groups.
Push to axe U.S. crude export ban strengthens in House: lawmakers
Lawmakers in the House of Representatives who are trying to end the decades-old ban on U.S. crude oil exports said on Thursday they were gaining support after a Democrat joined the Republican-led effort. Representative Henry Cuellar became the first Democrat to sign on to a bill launched in February by Representative Joe Barton, a Republican and fellow Texan.
Oil has best monthly gain in six years but rally may hit 'speed bumps'
Oil rounded out its best monthly gain in six years on Thursday, with the two global benchmarks for crude rising between 20 and 25 percent in April, helped by a weaker dollar and bets that a supply glut would ease.
U.S. oil hits 5-month high as dollar weakens
U.S. crude oil hit a five-month high on Thursday as the dollar slipped to its lowest since February and as more evidence emerged of a gradual balancing of the U.S. domestic market.
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Venezuela, struggling to pay for essential items such as food and medicine amid strict foreign currency controls, may have failed to collect about a third of its potential oil revenue in 2014, a Reuters analysis suggests.
Crude oil prices settled up 3 percent on Thursday, hitting 2015 highs, while U.S. gasoline reached 5-month peaks after Saudi Arabia and its allies maintained a bombing blitz in Yemen that heightened concerns about the security of Middle East oil supplies.
Commodity trader Noble Group has been barred from taking part in some of the trading processes used to set global oil price benchmarks by reporting agency Platts, according to two people familiar with the matter.
Oil prices extended declines from the previous session on Wednesday as tensions in the Middle East eased after Saudi Arabia ended an air strike campaign in Yemen, but industry leaders said the market could rebound as attention turned to rising demand.
Members of the Organization of the Petroleum Exporting Countries (OPEC) should prepare for extra Iranian crude production when Western sanctions on Tehran are lifted, Iran's oil minister was quoted on Tuesday by state news agency IRNA as saying.
Brent crude oil steadied around $63 a barrel on Tuesday, not far below the 2015 high, supported by worries that a civil war in Yemen could destabilize the Middle East, affecting oil supplies.
Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom's willingness to defend market share at a time when oil markets have staged a fragile recovery.
Oil prices ended in positive territory on Monday after a drop in stockpiles at the delivery point for U.S. crude in the second half of last week outweighed pressure from near record high production in Saudi Arabia.
Halliburton Co (HAL.N) warned of headwinds in its international operations and pricing pressure for its oilfield services in North America, its largest market, as an extended slump in oil prices continues to force drillers to slash spending.
