oil

Massive oil discovery in Alaska is biggest onshore find in 30 years

Spanish oil giant Repsol (REPYY) and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as 2021 and lead to as much as 120,000 barrels of output per day, Joinfo.com reports with reference to

US defense chief plays down Trump comments on seizing Iraq oil

Arriving in Baghdad on an unannounced visit Monday, the US Defense Secretary Jim Mattis had planned to assess for himself the effort by US-backed Iraqi forces to expel "Islamic State" (IS) militants from their stronghold of western Mosul, according to Deutsche

Russia overtakes Saudi Arabia as the world’s largest producer of crude oil

Russia pumped 10.49 million barrels a day in December, down 29,000 barrels a day from November, while Saudi Arabia’s output declined to 10.46 million barrels a day from 10.72 million barrels a day in November, according to data published Monday on the

Saudi Arabia cut oil output to lowest in two years, predicts further decline

Energy Minister Khalid al-Falih said output had fallen below 10 million barrels per day - more than it had promised as part of a global output cut deal between OPEC and non-OPEC producers, Reuters reports. Such levels were last seen in February

Saudi Arabia plans to end ‘addiction’ to oil

Deputy Crown Prince Mohammed bin Salman said Riyadh would raise the capital of its public investment fund to 7 trillion riyals ($2 trillion) from 600 billion riyals ($160 billion) and would sell up to five percent of shares in state oil giant

OPEC is unlikely to cut output before U.S., Russia, Iraq – FGE

Oil has risen about 50 percent from 12-year lows hit less than two months ago after Saudi Arabia, Qatar and Venezuela, along with non-OPEC exporter Russia, pledged to freeze supply at January's levels if others cooperated. The U.S., Russia and Iraq are

OPEC unlikely to cut output in June

OPEC is very unlikely to cut output at its next meeting in June, even if prices remain extremely low, according to OPEC sources and delegates, as it will be too early to say how fast Iranian output is rising, Reuters reports. The

Oil fell below $33 a barrel for the first time since April 2004

January 7, oil prices continued sliding, falling below $33 a barrel for the first time since April 2004 Oil fell below $33 a barrel for the first time since April 2004 because of investors’ concerns of record production and massive stockpiles of unwanted

The U.S. crude futures fell below $40 on Monday after OPEC

Last week the Organization of the Petroleum Exporting Countries (OPEC) failed to agree on an output target to reduce the oil glut, which caused the prices decline by over 60 percent since 2014, Joinfo.ua reports with the reference to Reuters. Expecting the

Russian MP Vladimir Zhirinovsky said that Turkish President Erdogan downed Russian Su-24, because he wants to take over and become the Sultan of Syria

Russian MP Vladimir Zhirinovsky said that downed Russian Su-24 was part of the plan of Turkish President Recep Tayyip Erdogan to take over Syria and to become the Sultan, Joinfo.ua reports with the reference to Lifenews.ru. Zhirinovsky said that Turkey wants to