Oil Climbs on Bullish API Data, Falling OPEC Production

Crude futures climbed in Europe, recovering Tuesday's losses, after API data reportedly showed an 8.2 million barrel drop in U.S. crude inventories in the most recent reporting week. 


 
U.S. Crude-Oil Inventories Likely to Decline in DOE Data, Analysts Say

U.S. crude-oil stockpiles are expected to decrease slightly in data due Wednesday from the Energy Department, according to a survey of analysts and traders by The Wall Street Journal. 


 
Chinese Oil Futures Draw More International Interest

Foreign companies and investors are warming to Chinese oil futures, a boost to a project that Beijing hopes will strengthen the yuan's appeal and loosen the dollar's hold on global commodity pricing. 


 
Exxon Mobil Resists Write-Downs as Oil, Gas Prices Plummet

As its peers write down U.S. shale assets by billions of dollars amid lower energy prices, Exxon Mobil stands increasingly alone in not adjusting the value of its holdings, and some accountants are questioning why. 


 
Coronavirus Sends Oil Prices on Wild, Six-Month Ride

U.S. crude's 92% advance marks oil's largest quarterly percentage gain in 30 years. 


 
Shell Takes $22 Billion Write-Down, Expecting Lower Oil and Gas Prices

Royal Dutch Shell is writing down the value of its assets by up to $22 billion because of lower energy prices following the demand-sapping coronavirus pandemic. 


 
Frac-Sand Supplier Covia Files for Bankruptcy

The Ohio company has filed for bankruptcy as part of a plan to cut more than $1 billion in debt and shed its railcar leases after taking a beating from the disruption sparked by the coronavirus pandemic and lower energy prices. 


 
Chesapeake Energy to Start Tapping $925 Million Bankruptcy Loan

The oil-and-gas producer has been cleared to begin drawing on a $925 million bankruptcy loan, a crucial first step in its plan to eliminate billions of dollars of debt from its balance sheet in chapter 11. 


 
BP Exits Petrochemicals Business in $5 Billion Deal

Energy giant BP has agreed to sell its petrochemicals business to British chemicals company Ineos for $5 billion, marking the largest deal by an oil major since the new coronavirus was declared a pandemic. 


 
Russia Reinforces Foothold in Libya as Militia Leader Retreats

Moscow is sending reinforcements to Libyan military leader Khalifa Haftar while shopping for new allies in the divided country, as Moscow seeks to shape the fate of the nation and its oil reserves.