Sunday, December 22, 2024
Oil prices rise over 4% on positive economic data from China - Oil and Gas 360

Oil prices rise over 4% on positive economic data from China

From Reuters Oil prices rose more than 4% on Wednesday, boosted by a wider market pickup on positive news from China, after three days of losses due to fears about a weakening global economy. Brent futures LCOc1 rose $2.44, or 4.2%, to settle at $60.70 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 gained $2.32, or 4.3%, to

Exxon, Chevron see consolidation in top U.S. shale field - Oil and Gas 360

Exxon, Chevron see consolidation in top U.S. shale field

From Reuters The two largest U.S. oil and gas companies on Tuesday left the door open for more acquisitions in the country’s top shale field. Exxon Mobil Corp (XOM.N) expects to see industry consolidation to happen “over some period of time,” in the Permian Basin in west Texas and New Mexico, Chief Executive Darren Woods told investors at a Barclays