Archives for January 2017
OPEC close to meeting output cuts
U.S. oil traded near $53 a barrel as Iraq said it’s close to implementing its share of pledged output curbs agreed with OPEC to trim bloated global inventories. Futures were little changed in New York...
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Market Currents: U.S. dependency on Middle East crude is rising
Crude is starting the week by charging lower, as supportive rhetoric from OPEC over the weekend has done little to allay fears of ongoing strong supply this year – especially if OPEC does indeed end...
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With Rubio on board, Exxon chief Tillerson’s nomination as secretary of state assured
WASHINGTON – Rex Tillerson’s nomination to be Secretary of State was all but assured Monday when Sen. Marco Rubio, R-Fla., said he would back off his opposition to the former Exxon Mobil CEO. In a...
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BP begins pumping oil from Gulf expansion project
A new subsea production system at one of BP’s major oil fields in the Gulf of Mexico has begun collecting crude from a prolific new well, the company said Monday. BP’s effort to expand operations...
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Houston gas prices expected to keep falling
Average gasoline prices in Houston dropped 2.2 cents per gallon last week, to $2.10 per gallon, but remained well above the average gas price for this time last year, according an analysis by GasBuddy.com, a...
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