Nov 18, 2014

Japan's recessionary slide hits stocks, oil worldwide

Data showing Japan slipped into recession in the third quarter raised concerns Monday about global economic health, hitting stocks and the price of oil. Before recovering slightly, European shares fell, and Wall Street looked set to open lower, according to index futures . The ...

Obama on collision course with Republicans after trip

Nov 17, 2014

Obama on collision course with Republicans after trip

After a productive trip abroad, U.S. President Barack Obama returned to Washington on Sunday to face a collision course with Republicans on immigration and an oil pipeline project, showdowns that threaten prospects for cooperation over his remaining two years in office. The contentious immigration ...

Keystone pipeline passes one U.S. legislative hurdle

Nov 15, 2014

Keystone pipeline passes one U.S. legislative hurdle

The U.S. House of Representatives on Friday approved construction of the controversial Keystone XL pipeline to bring oil from Canada, but the measure could still find itself blocked in the Senate. The project, which would bring oil from tar sands in Alberta province to ...

Oct 28, 2014

Two million barrels of oil on ocean floor after BP spill

Around 2 million barrels of oil from the BP spill off the U.S. Gulf Coast in 2010 are believed to have settled on the ocean floor, according to a study. The fate of 2 million of the nearly 5 million barrels that gushed into ...

Oct 17, 2014

Oil market is proving mightier than OPEC

by John Kemp

The only sensible oil-pricing strategy for Saudi Arabia and OPEC — in light of U.S. shale output — is to focus on market share and allow prices to decline to the point at which they slow the growth in non-OPEC output and lessen the ...

Oct 14, 2014

Saudi Arabia's oil enigma

by John Kemp

Saudi Arabia is sometimes likened to a central bank managing the global oil market, adding or withdrawing supplies to control prices. But that vastly overstates the degree of influence, let alone control, that the kingdom exercises over the market.