News Highlights: Top Energy News of the Day

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Crude oil futures stabilized Thursday after sinking to their lowest level in nearly three weeks overnight amid worries that U.S. production is overcoming cuts from major players elsewhere.

OPEC Likely to Extend Production Cut Deal, Says Saudi Minister

OPEC is likely to reach an agreement to extend the group's production cuts into the second half of 2017, Saudi Arabia's energy minister said.

Deja Vu for Oil Traders Amid Concerns About Tepid Demand

For months, the oil market has focused on supply. What if the problem is demand?

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Exxon Seeks U.S. Waiver to Resume Russia Oil Venture

Exxon Mobil has applied to the Treasury Department for a waiver from U.S. sanctions on Russia in a bid to resume its venture with state oil giant PAO Rosneft in the Black Sea forged in 2012 by then-CEO Rex Tillerson, according to people familiar with the matter.

Tesla Settles Lawsuit Against Former Autopilot Director

Tesla has settled a lawsuit against the former director of its semiautonomous Autopilot system, clearing the way for one of the stars among self-driving cars to build his own company that could become a threat to the Silicon Valley car maker.

U.S. Oil Inventories Fall as Refinery Runs Speed Up

U.S. crude-oil inventories decreased by 1 million barrels, slightly more than expected, as refinery activity accelerated, according to government data. Gasoline stockpiles increased by 1.5 million barrels.

China's Oil Refiners Are Coming for Your Market Share

Like steel and aluminum before, Chinese oil refining overcapacity is spilling into global markets and depressing profits.

Woodside Quarterly Revenue Dented by Storms, Rainfall

A decline in production thanks to bad weather and a buildup in inventory weighed on Woodside Petroleum's first-quarter revenue, although the Australian energy firm stuck with its output target for the year.

Australia Considers Cross-Continent Pipeline to Beat Gas Shortages

Prime Minister Malcolm Turnbull met with major LNG exporters including Royal Dutch Shell, Exxon Mobil and Santos to discuss ways of getting more LNG into the domestic energy market.

GM's Chevrolet Volt Electric Car Will Be Sold in China as a Buick

General Motors Co.'s Chevrolet Volt electric car is finally headed to China, but it won't be wearing the iconic bow tie badge that identifies Chevy products. It will instead be sold as a Buick.

Maxus Gets Court OK to Poll Creditors on Passaic River Cleanup

Maxus Energy won court approval to start polling creditors on a chapter 11 bankruptcy plan that tackles its obligations to help clean up the polluted Passaic River in New Jersey.

(END) Dow Jones Newswires

April 20, 2017 11:15 ET (15:15 GMT)