OPEC and Russia-led Oil Alliance Agree to Increase Production
An alliance of crude producers led by Saudi Arabia agreed to increase oil production starting in August, officials in the group said, amid signs that demand is recovering following coronavirus-related lockdowns.
Oil Prices Rise on Vaccine Hopes, Falling Inventories
U.S. crude prices hit a fresh 4 1/2 -month high with investors hoping for faster-than-expected coronavirus vaccine development and weighing a sizable drop in domestic crude stockpiles.
Analysts Expect 46 Billion Cubic-Foot Injection in Natural-Gas Storage
U.S. government natural-gas data due Thursday are expected to show inventories rose last week by 46 billion cubic feet -- a smaller amount than normal as warm-to-hot temperatures continued to boost demand.
U.S. Crude-Oil and Fuel Inventories Fall Sharply
Crude-oil stockpiles fell by 7.5 million barrels to 531.7 million barrels. That leaves inventories about 17% above the five-year average, the the Energy Information Administration. Analysts predicted crude stockpiles would fall by just 1.3 million barrels from the prior week.
Pompeo Lifts Sanctions Exemption From Nord Stream 2 Pipeline
Secretary of State Mike Pompeo said a sanctions exemption will be removed for a Russian natural-gas pipeline to Germany, paving the way for new penalties to be imposed on the contentious project.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities.
Jump in Coronavirus Cases Could Jeopardize Oil Market Recovery, OPEC Says
Even a record-breaking rise in oil demand next year won't be enough to spur a recovery back to pre-coronavirus levels, according to the Organization of the Petroleum Exporting Countries.
Biden Unveils $2 Trillion Plan to Combat Climate Change
Former Vice President Joe Biden unveiled a $2 trillion proposal to combat climate change, calling for a bigger investment and faster action than he backed during the Democratic primaries earlier this year.
Origin Energy Expects A$1.16B-A$1.24B Impairment Charges
Origin Energy forecast a hefty impairment charge on a weaker outlook for commodity prices and the economic impact of the coronavirus pandemic, with more than half of the writedown tied to the Australia Pacific LNG project.
EP Energy Proposes $4.4 Billion Debt-Cutting Strategy
The oil-and-gas company floated a chapter 11 exit strategy that would hand the business to senior bondholders and cut $4.4 billion in debt, its second restructuring proposal after failing in a previous bid to leave bankruptcy.
