Crude oil heads to weekly loss as looming surplus depresses market
Crude oil futures were on pace Friday for loss for the week, as a supply gut and a strong dollar depresses the market. U.S. crude oil is down more than 2% this week, while Brent has shed nearly 2%. West Texas Intermediate December contract: $68.56 per barrel, down 14 cents, or 0.2%. Year to date, U.S. crude oil has shed about 4%.
Oil markets are facing a supply glut, with non-OPEC producers on track expand production by 1.5 million barrels of oil a day, ...
Global oil markets face a surplus of more than 1 million barrels a day next year as Chinese demand continues to falter, ...
Benchmark U.S. West Texas Intermediate (WTI) crude oil will cost $60-$80 per barrel in the foreseeable future, shale producer ...
The Energy Department announced the end of replenishing the nation's strategic oil reserves, which were depleted by nearly ...
Oil futures were marginally higher early Wednesday, with the U.S. benchmark consolidating below the $70-a-barrel threshold as ...
Oil giant ExxonMobil said on Wednesday it had reached 500 million barrels of oil produced from Guyana's offshore Stabroek ...
Weak oil demand has limited refinery intake of crude oil for processing into refined products. Read more here.
ExxonMobil announced on Wednesday it has reached 500M barrels of oil produced from Guyana's offshore Stabroek block ...
U.S. crude oil inventories rose 2.1 million barrels to 429.7 million barrels, surpassing analyst expectations for an increase ...
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