When energy analysts and the media discuss the price of crude oil, they are typically referring to one of a small group of specific types of crude oil that are widely and actively bought and sold. The use of such benchmark crudes makes it easier for buyers and sellers to price the variety of crudes that are produced around the world.
Light, Sweet Crude for December Delivery Rose 42 cents, to $81.42 a Barrel
Mexico is poised to redraft part of next year’s federal budget after a steep fall in oil prices upended the country’s revenue assumptions.
The European Union's executive body is close to signing off on two disbursement of loans promised to Ukraine that would give Kiev about EUR760 million ($965 million) in additional funding by the end of the year, two senior officials said Tuesday.
The world needs a full transition towards a low-carbon economy
Ukraine is likely to face energy shortages this winter if last-ditch talks to resume gas supplies from Russia fail on Wednesday.
BP posts slump in Russian income but raises dividend
Big oil and gas finds in waters along Europe's northern edge may remain undeveloped now that oil prices have dropped, keeping potential supply of over a billion barrels of oil equivalent out of the market for the foreseeable future.
Natural gas is creating a new reality for economies around the world.
The United States exported 401,000 barrels per day (bbl/d) of crude oil in July 2014