World Oil (Bloomberg) –OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. On Monday, Kuwait said the cartel should stick with its plan to increase output gradually because oil markets were well-balanced. That followed similar statements from other key members
World Oil HOUSTON (Bloomberg) –The world’s biggest energy companies are producing the most cash in years, but don’t expect them to spend it on bringing on fresh supplies of oil and natural gas to combat shortages in Europe and China this winter. Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp. confirmed this week that, for the most part,
Nasdaq OSLO, Nov 1 – Equinor EQNR.OL has made an oil discovery estimated to hold up to 62 million barrels of crude off the coast of Norway, the energy major said on Monday. The discovery, just north of the Tyrihans field and west of the Kristin development in the Norwegian Sea, was the state-controlled firm’s sixth find in domestic waters this year,
World Oil (Bloomberg) –The U.S. is talking to other energy-consuming nations about how to press OPEC+ to boost output to address the current supply crunch, a senior U.S. official told reporters in Rome. The leaders will also discuss how they might respond if the 23-nation cartel that includes Russia doesn’t take action, the official said, although he wouldn’t speculate on
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World Oil Oil fell for a second day as one of the top energy diplomats in the U.S. urged producers to hike output. West Texas Intermediate declined 1.3%, falling for a second session. The global economy is facing an energy crisis, Amos Hochstein, the U.S. State Department’s senior adviser for energy security, said Thursday on a panel at a conference.
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