News

CNBC Energy

Oil prices rise as China-US trade tensions show signs of easing
U.S. West Texas Intermediate (WTI) crude futures were at $51.43 per barrel at 0230 GMT, up 0.57 percent from their last settlement. International Brent crude oil futures were 0.6 percent higher at $60.50 per barrel.

Shale growth may force OPEC into another production cut in April, Citi says
OPEC has lost more than 20 percent of its share of global oil production since the 1970s.

Short-term credit markets look positive, says investment guru
Larry McDonald of 'The Bear Traps Report' joins 'Squawk Box' to discuss General Electric's market slump.

OPEC's oil production dips in November as Iranian output plunge offsets Saudi surge
Oil production from OPEC nations fell slight in November, as Iranian supplies fell sharply, offsetting a big jump in in Saudi output to all-time highs.

Oil prices fall on Iran comments despite Libya, OPEC supply cuts
Oil gave up the day's gains at the end of the session on Wednesday, after earlier drawing support from a drop in U.S. crude inventories, a cut in Libyan exports and an OPEC-led deal to trim output.

WorldOil

Late reversal sends oil lower as bulls can't kill fears of glut
Oil gave up all of its gains in the last half hour of trading and skidded to a loss as a smaller-than-expected decline in U.S. crude stockpiles revived fears of a global glut.

Western Gas selects McDermott and BHGE as development partner for Equus Gas Project in Australia
McDermott International, Inc. has announced they, with Baker Hughes, a GE company, have signed a memorandum of understanding (MOU) with Western Gas Corporation Pty Ltd to be the exclusive development partners for the Equus Gas Project in Western Australia. The companies were also awarded a contract to support the planning phases of the project.

AFGlobal launches new performance drilling platform
AFGlobal has announced the launch of their Performance Drilling platform, a unique combination of equipment and software aimed at the onshore and shallow water drilling markets.