OPEC Says Output Fell Sharply Amid Saudi Arabia Reduction

Investment in US shale oilfields will fall by a tenth next year – and result in a decline in production – if the oil price continues to trade around $80 a barrel, the world’s energy watchdog has warned.

Oil tumbles to four-year low below $79, awaits OPEC

Africa oil industry refocuses priorities as price falls and setbacks bedevil groups

A growing list of delayed or cancelled projects, seen by some investors as a healthy move by majors to rein in capital spend after a poor history of returns is working its way through corporate earnings; it has already pummelled the share price of some European suppliers seen as financially fragile.

West Texas Intermediate and Brent oils increased after U.S. employment gains exceeded 200,000 for a ninth month and the jobless rate dropped to a six-year low, bolstering the fuel demand outlook.

The first phase of the Sabine Pass project will cost more than $12 billion and seemed unlikely after Cheniere bet the wrong way on the U.S. natural gas market

Egypt received $10.6 billion in aid from Gulf states in the last fiscal year

Transocean Ltd. (RIG), owner of the biggest fleet of deep-water drilling rigs, is feeling the effect of an industrywide glut in the expensive vessels just as crude-oil prices tumble.

Libyan state security guards have started a protest at the 120,000 barrel per day Hariga oil port in the east, halting all oil exports from the terminal, a Libyan oil official said on Saturday.

OPEC Head Tells Oil Market to Stop Panicking About Prices

As Oil Plunges Further, Why It Might Be 'Game Over' For The Fracking Boom

WTI for December delivery rose $1.05, or 1.4 percent, to $78.96 a barrel at 9:40 a.m. on the New York Mercantile Exchange. Prices are down 2 percent this week and 20 percent this year.

Petroleo Brasileiro SA (PBR) headed for the longest losing streak in a year as plunging oil prices and currency weakness overshadowed a decision to give the state-run producer some relief from inflation-fighting policies.

Saudi Arabian Oil Co. lowered the cost of its crude to the U.S., where production is the highest in three decades, deepening a selloff that sent prices to the lowest in more two years.