Archives for September 2016
Noble Energy warns workers of layoffs to come
Noble Energy has warned employees that it’s planning additional job cuts as part of efforts to “streamline” exploration and focus on its highest-performing oilfields. The company declined to disclose how many employees would lose jobs...
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OPEC deal: ‘Good news for U.S. producers, Houston economy’
The move took many by surprise. OPEC members agreed Wednesday to a preliminary deal that will cut the cartel’s oil production for the first time in eight years, boosting hopes in Houston that crude prices...
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Skepticism aside, OPEC production cuts have worked before
OPEC has agreed to cut oil production three times over the past two decades in response to precipitous drops in oil prices. Each time, the Organization of the Petroleum Exporting Countries was successful in curtailing...
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Winners and losers in OPEC’s plan to cut production
The Organization of Petroleum Exporting Countries’ agreement to cut production ends two years of Saudi Arabia’s pump-at-will policies, which had sunk oil prices to the joy of drivers in the Western world and the consternation of central...
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Oil prices jump on reports of OPEC production cut
Oil extended gains on speculation that OPEC agreed to cut production for the first time in eight years. Stocks climbed and the dollar fell. Crude futures surged 5.3 percent to $47.05 a barrel in New...
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