News Highlights: Top Energy News of the Day

02/09/18 04:15 PM EST
Oil Falls Further Amid Fears of Surging U.S. Output 

Oil prices slid for a sixth straight day as investors continue to worry about a surge in U.S. production and this week's selloff in equity markets.

U.S. Oil-Rig Count Rose by 26 in Latest Week 

The number of rigs drilling for oil in the U.S. increased by 26 this week to 791, Baker Hughes reported.

China Signs First Long-Term Deal for U.S. Natural Gas 

China has signed its first long-term contract to import U.S. liquefied natural gas, following a push by the Trump administration to open the rapidly growing market to U.S. suppliers.

Venezuela's Pain is OPEC's Gain 

The cut in oil production engineered by OPEC and Russia is now in its second year, defying skeptics and helping to boost crude prices. But the cartel's compliance owes a big debt to a single member: Venezuela.

China Muscles In on Brent, WTI Oil Dominance 

China said it would launch a yuan-denominated oil futures contract in March, a long-anticipated move aimed at boosting the pricing power of the world's biggest crude importer.

SandRidge Energy Shakes Up Leadership Amid Investor Pressure 

Amid investor pressure, SandRidge Energy said its two top executives would depart and also announced it planned to slash expenditures for the year.

Big Oil Is Rewarding Investors Again 

Big dividends and share buybacks are making a comeback in the oil industry amid a fragile market recovery, with French oil giant Total the latest company to signal growing confidence in the industry.

Canada Rolls Out Tougher Oversight of Energy Projects 

Canada unveiled sweeping new rules aimed at toughening oversight of energy projects and instilling confidence in a system criticized by companies as too cumbersome and environmentalists as too lax.

Why Tax Law Likely Means Lower Revenue for Pipeline Operators 

The U.S. tax overhaul will likely force many pipeline operators to lower the rates they charge customers, a side effect with major consequences for some of the industry's biggest companies.

U.S. Crude Oil and Fuel Inventories Increase 

U.S. inventories of crude oil rose by 1.9 million barrels for the week ended Feb. 2 while fuel supplies including gasoline also climbed, according to data released Wednesday by the Energy Information Administration.


(END) Dow Jones Newswires

February 09, 2018 16:15 ET (21:15 GMT)

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