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.
Energy
BP must remain British, says Whitehall: Kemp
“Downing Street has discreetly let it be known in the City that it would oppose any takeover of BP,” the Financial Times reported on Sunday.
Brent crude holds near 4-1/2 month high on Yemen, U.S. rig count
Brent crude prices held near a 4-1/2 month high above $65 a barrel on Monday, supported by concerns about fighting in Yemen disrupting Middle East supplies and signs that U.S. shale output may have started to decline.
Petrobras tries to turn page on corruption, talks oil
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.
Venezuela may have missed $24 billion in oil revenue in 2014
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.
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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.
Saudi Basic Industries Corp 2010.SE has signed a deal to use shale gas from the United States at its Teesside petrochemical plant in Britain, acting chief executive Yousef Abdullah al-Benyan told Reuters on Sunday.
A bill that would stop Texas cities from enacting their own bans on hydraulic fracturing in the nation's top crude oil and natural gas producing state was approved on Friday in the state House of Representatives.
Crude futures fell from 2015 peaks in choppy trading on Friday, but Brent's 9.6 percent weekly gain was its biggest in more than five years as Middle East turmoil and signs of lower U.S. production lifted prices.
Brent crude oil prices fell on Friday, ending a run of rallies earlier in the week, after OPEC said that its output surged in March, adding to a global glut.
