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Arathy Somasekhar: The de facto leader of the Organization of the Petroleum Exporting Countries (OPEC) this month deepened its production cuts to 1 million barrels per day in response to benchmark prices that fell to below USD 72 a barrel this summer.
Prices for sour crude oil have climbed globally this month after top exporter Saudi Arabia hiked prices and expanded production cuts of higher-sulfur oil in the first sign its efforts to prop up...
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Bearish sentiment has dominated oil markets in recent months despite a small uptick in prices, and there are plenty of reasons to think markets will remain bearish.
But shale giant ExxonMobil Corp. is now betting that shale producers can double crude output from their existing wells by employing novel fracking technologies