LONDON (Bloomberg) -- The early success of an oil supply accord between OPEC and Russia in reviving crude prices is magnifying the potential costs of failure if producers meeting this weekend fail to complete their deal. Brent crude futures...

KUWAIT CITY (Bloomberg) -- Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output to the highest level in more than four decad...

NEW YORK (Bloomberg) -- Hedge funds betting that oils rally was over missed an 11% gain after U.S. crude inventories unexpectedly fell. Short positions in West Texas Intermediate crude jumped 35% in the week ended April 5, according to the...

OTTAWA (Bloomberg) -- Canadas oil and gas companies will slash investments by 35% in 2016, a record two-year decline that underscores a need for new pipelines, the industrys main advocacy group says. Capital spending will fall to C$31 billi...

NEW YORK (Bloomberg) -- Oil climbed after U.S. crude inventories unexpectedly dropped from the highest level in more than eight decades. Futures rose the most in three weeks in New York. Crude supplies fell 4.94 MMbbl last week, Energy Info...

TOKYO (Bloomberg) -- Inpex Corp., Japans biggest oil and gas explorer, expects to book $606 million in impairment charges for the year just ended, following the collapse in oil and gas prices. The charge will probably reduce net income to 2...

LONDON (Bloomberg) -- Oil dropped to a one-month low after Saudi Arabias deputy crown prince said his country will freeze output only if Iran follows suit, putting in doubt the prospects of a proposed deal to freeze supply. Futures slipped...

NEW DELHI (Bloomberg) -- India is open to buying crude from the worlds newest exporters, including the U.S., as it attempts to diversify its supply sources. The worlds fourth-biggest oil consumer will consider American supplies at the right...

SHANGHAI (Bloomberg) -- Chinas crude imports will rise further from a record this year to feed its expanding refining sector and strategic reserves, according to Standard Chartered Bank. The nations average crude imports will rise by as muc...

HOUSTON -- OFSCap, LLC, today announced that its affiliate, OFSCap Acquisition, LLC, has acquired The Oil and Gas Asset Clearinghouse from CenterGate Capital. Clearinghouse markets oil and gas properties and, since its inception, has sold o...