News
OPEC threatened by tiny Oklahoma town with soaring supplies
For OPEC, there are few enemies more fearsome than the tiny Oklahoma town of Cushing. With oil inventories at Cushing creeping near an all-time high, U.S. benchmark futures prices are struggling to advance despite the...
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Oil prices fall after crude inventory, OPEC news
Oil prices fell by more than $1 a barrel Wednesday after news that the crude glut is growing in the nation’s storage benchmark of Cushing, Okla. The oil price also felt the impact of OPEC...
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Market Currents: Saudi oil logic explained
Oil prices are lower today, as focus shifts from optimism of the market balancing in the future, back to current oversupply. With today’s US inventory report helping crude to pare losses with a solid draw...
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BP oil, gas headquarters moving from Houston to Denver
Oil giant BP is moving its U.S. onshore oil and gas headquarters from Houston to Denver, and taking about 200 of its 4,500 local employees with it. The new Colorado office, the company said...
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Conoco sells $1.3 billion in oil land, assets
ConocoPhillips, the world’s largest independent oil company, sold $1.3 billion in oil land and other assets this year, generating cash for debt reduction, share repurchases and operations. Conoco, based in Houston, said on Wednesday it...
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