NEW YORK (Bloomberg) -- Oil closed above $45/bbl in New York for the first time since November after U.S. crude output dropped and Federal Reserve policy makers signaled theyre open to raising interest rates in June. Crude production fell t...

NEW YORK (Bloomberg) -- Oil rose amid signs that a global surplus is gradually diminishing, even as markets remain oversupplied. Futures climbed as much as 2.4% in New York after slipping 2.5% Monday. BP CEO Bob Dudley, who in February joke...

RIYADH, Saudi Arabia (Bloomberg) -- Saudi Arabias Deputy Crown Prince Mohammed bin Salman said he expects the value of Saudi Arabian Oil Co. to exceed $2 trillion as the kingdom prepares to sell part of the company in what could be the worl...

RIYADH, Saudi Arabia (Bloomberg) -- Saudi Arabian Oil Co. will complete the expansion of its Shaybah oil field by the end of May, allowing the biggest crude exporter in the world to maintain the level of its total production capacity, accor...

HOUSTON (Bloomberg) -- Oil production in some of the riskiest, highest-cost regions of North America is still thriving, even as the worst slump in a generation takes a bite out of U.S. shale. Onshore U.S. output is poised to drop 22% from l...

STAVANGER, Norway -- Aibel has been awarded a contract for yardstay and assistance with the final preparations of the Glen Lyon FPSO. The vessel arrived in Haugesund, Norway, on Wednesday. With a length of 270 m and a width of 52 m, Glen Ly...

LIVINGSTON, Scotland -- Cyberhawk Innovations, a leader in aerial inspection and survey using unmanned aerial vehicles, has completed the first ever commercial oil and gas inspection in Qatar. This allows the significant cost benefits of Cy...

LONDON (Bloomberg) -- After his comments thwarted supply negotiations in Doha, oil traders are weighing another implied warning from the Saudi deputy crown prince: the threat of an intensifying clash with Iran over market share. It was Moha...

DIRIYAH, Saudi Arabia (Bloomberg) -- Saudi Arabia could raise crude production by more than a million barrels a day immediately, said the kingdoms Deputy Crown Prince, as he reiterated the nation would only agree to freeze production if all...

CHARLOTTE, North Carolina (Bloomberg) -- Oil prices can climb above $50/bbl if an output freeze deal is struck in Doha this weekend, according to Bank of America Corp. A flat output profile for OPEC (excluding Iran) and Russia would tighten...