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News Highlights : Top Energy News of the Day

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12/06/2019 | 04:16pm EST
OPEC, Allies Finalize Deeper Oil Production Cuts 
 

OPEC and its allies completed a new production pact to deepen their oil-output cuts, according to delegates.

 
U.S. Oil Rig Count Falls by Five, Seventh Consecutive Decline 
 

The number of rigs drilling for oil in the U.S. fell by five in the latest period to 663, the seventh consecutive decline and down to March 2017 levels, according to oil-field services company Baker Hughes Co.

 
Oil Ends At 11-Week High On OPEC Cuts 
 

U.S. benchmark oil prices ended at their highest in 11 weeks after OPEC and other top producers including Russia announced extra production cuts in an effort to tighten global supplies.

 
Europeans Step Up Pressure on Iran Over Nuclear Violations 
 

France, Britain and Germany will ratchet up pressure on Iran in coming weeks by triggering a dispute mechanism if Tehran continues its prohibited moves away from the 2015 nuclear deal, diplomats say.

 
Energy & Utilities Roundup: Market Talk 
 

The latest Market Talks covering Energy and Utilities.

 
Aramco Valued at $1.7 Trillion in World's Biggest IPO 
 

Saudi Aramco priced its initial public offering Thursday at the high end of the targeted range to give the oil giant a total value of $1.7 trillion in the world's biggest-ever IPO.

 
NZ Regulator Recommends Market Changes to Cut Gasoline Prices 
 

New Zealand consumers are paying too much for gasoline, the country's competition regulator has said, recommending changes that could lower prices.

 
Newsom Slams PG&E Insurance Deal as Wildfire Settlement Takes Shape 
 

Nancy Mitchell, the lawyer representing the governor, said Gov. Gavin Newsom wants assurances that PG&E will come out of bankruptcy financially stable, with cash to invest in new technology and improved safety practices.

 
U.S. Inventories of Crude Oil Fall Sharply 
 

U.S. inventories of crude oil fell much more than expected last week as refinery activity sped up, according to data from the Energy Information Administration.

 
Iraq, Other Countries Support Extra OPEC Cuts 
 

Iraq and other oil-exporting nations will support deeper production cuts from the Organization of the Petroleum Exporting Countries and its allies as the cartel attempts to shore up sagging oil prices.

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