DUBAI (Bloomberg) -- Abu Dhabis proposed merger of two of its largest sovereign investment funds would create a global energy business that produces more oil than OPEC member Libya and with bigger assets than ConocoPhillips. The Persian Gul...

CARACAS, Venezuela (Bloomberg) -- Venezuelas oil output, already the lowest since 2009, is set to slide further this year as contractors scale back drilling after the cash-strapped country fell more than $1 billion behind in payments. The L...

NEW YORK (Bloomberg) -- Oil capped the biggest two-day drop since February as futures remained volatile after the UK last week voted to leave the European Union. Futures tumbled 2.8% in New York, extending Fridays 4.9% slump, the biggest dr...

MOSCOW (Bloomberg) -- Russia warned that crude oil prices may plunge further if the shock of Britains vote to exit the European Union is combined with a boost in output. Returning production in Canada and Nigeria, which has been disrupted b...

CALGARY, Alberta -- Forecasted growth in Canadian oil production shows new major oil pipelines are urgently needed to deliver safe, secure and reliable energy to domestic and world markets, the Canadian Association of Petroleum Producers (C...

DUBAI (Bloomberg) -- The global oil glut will probably persist until at least next summer as markets take time to absorb excess crude in storage, according to the head of research at the worlds second-largest sovereign wealth fund. Supply a...

ST. PETERSBURG, Florida (Bloomberg) -- Rebounding after a two-year collapse, its only this month that oil prices have pushed up past $50/bbl, but Raymond James Associates says this is just the beginning for higher prices. In a note to clien...

NEW YORK (Bloomberg) -- Oil climbed the most in two months, paring a weekly decline as a weaker dollar bolstered the appeal of commodities to investors. Futures rose 3.8% in New York as a gauge of the dollar fell for a third day. Global sto...

ST. PETERSBURG, Russia (Bloomberg) -- Crude is stabilizing around $50/bbl and may only average $55 next year as the global oversupply continues to cap prices, according to two of the worlds top oil executives. The past few weeks have seen p...

NEW YORK (Bloomberg) -- Oil futures pared losses after U.S. government data showed crude stockpiles decreased a fourth week, reducing the glut. Crude inventories fell by 933,000 bbl last week, according to the U.S. Energy Information Admini...