A decision to proceed with a hike of 411,000 barrels per day for July is a ‘reasonable move under current conditions.’ — Violeta Todorova, Leverage Shares At the moment, the oil market ...

Nigeria is losing $1,000 on every barrel of crude oil it exports, due to a lack of the added value from refining, Nigerian media quoted energy policy expert Henry Adigun as saying at a conference.

LOS ANGELES -- BP PLC said Tuesday it was working to clean up about 1,000 barrels of gas oil that leaked from an underground pipeline at the Port of Long Beach. The leak, first detected Friday ...

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose sharply this week, gaining an additional 7.1 million barrels in the week ending July 4 ...

Oil prices rose initially but settled slightly lower Thursday. West Texas Intermediate crude futures, the US benchmark, settled at $69.15 barrel. Brent crude futures, the international benchmark ...

South Africa will wait for global oil prices to rise to around $100 a barrel before selling more of its strategic crude reserves, a senior energy official told Reuters.