Official figures forecasting a heavy fall in Norwegian oil production during 2016, result in an oil price rise, despite a February’s glut increase.
Oil Price | Offshore Post
Brent Crude Oil surges back above $40 a barrel, on conformation of falling stockpiles in the US, raising hopes of an increasing global demand.
Crude oil price up as governments schedule meeting to discuss implementing a freeze on oil production, with additional measures looking likely.
Halliburton cuts 5,000 jobs from global workforce as it, like so many, continues to struggle with the ongoing downturn in the oil and gas industry.
Renewed oil price hopes after OPEC Russia pact on freezing oil production rates at January 2016 levels, although not all members are onboard.
Oil price rise hopes after Iran hints at negotiations with Saudi Arabia, that could see the first positive move in reducing the overwhelming global oil glut.
BP suffers $2.2 billon loss in the fourth quarter of 2015 as the ongoing slump in global oil prices continues to bite the oil and gas supermajor.
Brent crude oil falls below $28 a barrel as decades old sanctions on Iran get lifted, raising the worry of a bigger global oil glut, that looks set to continue.
BP cuts look to hit a further 4,000 offshore oil and gas jobs, and associated upstream support roles as the company struggles with the continued oil slump.
Chevron cuts 140 jobs from its offshore support staff, mainly around its North Sea operations, as it continues to struggle with the low global oil price.
Global oil prices rose, after sources from inside the latest OPEC meeting, being held in Vienna, leaked news that Saudi Arabia was looking to cut global oil production.
Global oil prices continued to slump yet further to another low, as US crude benchmark West Texas Intermediate (WTI) closed in the $30s Monday.
The price of a barrel of oil dropped below US$40 for a time Friday, as the world’s global markets continue to slide in its longest loosing streak in almost 30 years.
Offshore drilling company, Hercules Offshore, has finally filled for chapter 11 bankruptcy protection, after months of wrangling with debtors.
Oil rich nation Saudi Arabia is expected to ease off its crippling grip on low global oil prices, as it looks to increase the price of its Asian exports.