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News Highlights : Top Energy News of the Day

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12/07/2018 | 05:16pm CET
Oil Prices Soar After OPEC, Allies Announce Production Deal 

Oil prices climbed after OPEC and its allies agreed to cut 1.2 million barrels of oil a day from global supply.

Natural-Gas Futures Extend Gains 

Natural gas futures extended gains after weekly EIA data showed a bigger-than-expected decline in supplies.

OPEC and Russia have agreed to a deal to join in a significant production cut that would mop up a burgeoning global oil supply glut.

U.S. Becomes Net Exporter of Oil, Fuels 

In a symbolic milestone that would have been unthinkable 10 years ago-and may yet prove short lived-the U.S. is now the world's top producer of oil and natural gas.

Feds Move to Expand Drilling by Undoing 2015 Deal to Protect Bird 

The Trump administration on Thursday moved to open millions of acres of public lands in the West to new oil and gas drilling and increased grazing by easing restrictions meant to protect a native bird.

U.S. Oil Inventories Fall For First Time in 11 Weeks 

U.S. inventories of crude oil fell for the first time in 11 weeks during the week that ended Nov. 30, according to data released Thursday by the Energy Information Administration.

New OPEC President's Disadvantage: He's From Venezuela 

Venezuela's oil minister, a loyal ex-general, is taking over OPEC's presidency as his country and the cartel share volatile relations with Washington.

Party Race to Succeed Merkel Throws Russian Pipeline in Doubt 

The three main contenders to succeed Angela Merkel as chairwoman of Germany's largest political party have called for a review of a gas pipeline between Germany and Russia, potentially putting the party at odds with the chancellor's government.

Iran Wants to be Exempted from Oil Production Cuts 

Iran wants to be exempted from voluntary oil production cuts if OPEC and its allies were to decide curbs, the country's oil minister said.

Brazil's Car Wash Probe Eyes Glencore, Vitol, Trafigura 

Brazil's Operation Car Wash corruption probe is investigating Glencore, Trafigura and Vitol for allegedly paying millions of dollars in bribes to Petrobras employees in return for better terms on trading contracts.

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