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Crude oil prices edged higher, with gains capped by concerns that U.S. production was undermining OPEC's efforts to rebalance the market.

BHP Billiton CEO Meets Elliott Amid Pressure

BHP Billiton Ltd. Chief Executive Andrew Mackenzie met with representatives from Elliott Management, the activist investor pushing for the resources company to shed at least some of its oil-and-gas assets and boost shareholder returns.

Hedge Funds Turn Against OPEC After Oil Gains Slip Away

OPEC officials had made the case that supply cuts would reduce the global glut and boost crude prices. Instead, oil prices are down more than 10% from their February high, and some hedge-fund traders are reeling.

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In the Himalayas, a New Power Rises: Water

Nepal is betting that a new energy gold rush borne of its thousands of rivers and craggy peaks will establish it as a major Asian electricity source.

GulfMark Offshore Files for Chapter 11

GulfMark Offshore filed for bankruptcy protection after reaching a deal with bondholders on the terms of a debt-for-equity swap as the shakeout in the offshore support industry continues.

Extending Production Cuts May Not Reduce Global Oil Stocks, Says IEA

OPEC and its oil-producing partners may have to do more than merely extend their petroleum-output cuts to achieve their goal of rebalancing global supply and demand, the International Energy Agency said.

Activist Investor Backs Off Call for BHP to Ditch Sydney Listing

Activist investor Elliott Management refined its attack on BHP Billiton, calling for an independent review of its petroleum business and deflecting earlier criticism by proposing the company retain a main stock listing in Australia.

SunEdison Comes to Terms With Unsecured Creditors

Failed solar-power developer SunEdison unveiled a series of settlements that brought the company's influential committee of unsecured creditors on board with its chapter 11 exit plan.

U.S. Crude-Oil Stockpiles Seen Down in Week

Analysts see U.S. crude-oil inventories falling by 2.2 million barrels, on average, in government data due Wednesday. Gasoline stockpiles are expected to show a decrease of 900,000 barrels.

Saudi Arabia, Russia Want Nine-Month Extension to Deal on Oil Output Cuts

Russia and Saudi Arabia's energy ministers said a production cut by the world's biggest oil producers should be extended by nine months to the end of March 2018.

(END) Dow Jones Newswires

May 17, 2017 11:15 ET (15:15 GMT)