Rigzone Industry News

OPEC expects global oil markets to tip into surplus this quarter.

Oil settled at the highest level in a week on signs of cooling inflation and a weakening dollar.

Oil futures ended slightly lower Tuesday, reversing earlier gains.

Brent crude and West Texas Intermediate oil prices dropped.

Oil extended declines to the lowest in almost six months as weaker US gasoline demand and recessionary fears weighed on markets.

Chevron Corporation (NYSE: CVX) and BP (NYSE: BP) have announced leadership changes.

Oil plunged after a US inventory report signaled slowing demand and the Organization of Petroleum Exporting Countries agreed to a small production increase in September.

For the first time in over a year, there is no pre-agreed target increase to rubberstamp.

Oil slumped as poor manufacturing figures across the globe fueled concerns that an economic slowdown may sap demand for crude.

Oil dropped with concerns over weak economic data outweighing a crude-stockpile draw that continues to signal a tight market.