Oil falls as U.S. output climbs and energy demand concerns linger

Oil futures declined Thursday, pressured by recent data showing a weekly climb in U.S. crude production, as concerns over a slowdown in energy demand from China lingered. West Texas Intermediate crude for February delivery CLG9, -0.86% fell 70 cents, or 1.3%, to $51.61 a barrel on the New York Mercantile Exchange, a day after posting a modest gain of 0.4%. March […]

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Oil prices get a boost from latest sign of improving U.S.-China trade picture

Oil futures climbed higher Tuesday, recouping some of the losses suffered over back-to-back sessions as global trade relationships and other energy demand signals, especially around China and the U.S., remain a factor for markets. Just a day earlier, oil fell amid further signs of economic weakness in China. But reports Tuesday, suggesting that China was taking greater steps to shore […]

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PG&E restructuring highlights arcane California legal rule

(Reuters) – PG&E Corp’s (PCG.N) chances of emerging from bankruptcy proceedings hinge in part on an arcane California legal rule that threatens to keep the utility owner perpetually on the hook for liabilities from catastrophic wildfires even beyond the more than $30 billion the company expects to face from recent blazes. The doctrine, known as “inverse condemnation,” exposes California utilities […]

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Oil slips as dollar firms, pausing 8-session run

Oil futures prices dipped Thursday, pausing an eight-day rally that took the U.S. benchmark to its highest in nearly four weeks. A slightly stronger U.S. dollarDXY, +0.16%  helped to push oil lower, as the firmer buck makes U.S. crude more expensive for investors using another currency. The recent advance for the energy complex was powered by continued optimism over U.S.-China […]

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OPEC oil production drops in December to a 6-month low: report

Oil production from the Organization of the Petroleum Exporting Countries fell by 630,000 barrels a day to a six-month low of 32.43 million barrels in December from a month earlier, according to an S&P Global Platts survey released Tuesday. "Stripping out Qatar, which exited OPEC at the end of the month, and Iran, Libya and Venezuela, which were granted exemption […]

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Venezuela's PDVSA inks oil deal with firm part-owned by Florida Republican

CARACAS (Reuters) – Venezuelan state oil firm PDVSA [PDVSA.UL] has signed a deal with little-known U.S. energy firm Erepla that is part-owned by a prominent Florida Republican to help increase the socialist-run country’s plummeting crude oil output, the company said. Erepla Services LLC, part-owned by Republican Harry Sargeant III and which Delaware state records show was only registered two months […]

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