Oil Prices Rise as OPEC Oil Production Cuts Become Effective

•  Published by Pete Nisbet on   September 27, 2017  

Oil prices rise as the oil production cuts by OPEC countries appear to have become effective. Oil prices rose steeply on Monday. Brent increased to $59.02 a barrel, the 3.8% rise taking it to its highest price since July 2015. The US West Texas benchmark price increased by 3% to $52.22. These increa [...]

Total – Maersk Deal Sees Total Buying Maersk Oil Business

•  Published by Pete Nisbet on   August 22, 2017  

A Total - Maersk deal has led to Total buying the Maersk oil operation for $7.45 Billion (£5.8 bn). Maersk Oil is a Danish company that has the concession for the exploration and production of oil and gas in the Danish sector of the North Sea. By purchasing Maersk, the French oil giant Total has su [...]

Crude Oil Prices Fall Despite Saudi Arabia Cutback in Production

•  Published by Pete Nisbet on   August 8, 2017  

Crude oil prices fell Tuesday even though Saudi Arabia’s state controlled producer, Aramco, announced a production cut. The Saudi oil company announced Tuesday that it was cutting crude allocations by 520,000 barrels per day in September. This was stated to be a minimum level of cut and would appl [...]