News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Hits Highest Level in More Than a Month Ahead of OPEC Meeting

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Oil prices rose to a fresh one-month high Monday with traders expecting this week's OPEC meeting to end with an extension or even deepening of the group's recent production cuts.

OPEC's Foil: It Can't Drain Enough Stored Oil

OPEC is likely to extend and perhaps even deepen its production cuts on Thursday for one main reason: It has failed to drain superhigh levels of oil in storage enough to raise prices significantly.

Iraq, Saudi Arabia in Last-Minute Summit to Salvage OPEC Cuts Extension

Iraq has become a potential obstacle to OPEC's efforts to continue cutting output into next year, representatives of the cartel said, prompting Saudi Arabia's energy minister to fly to Baghdad for meetings.

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Solar-Energy Giant Was Manipulating Sales Data, Say Former Managers

Former managers at one of the largest U.S. solar-energy companies say they manipulated a key sales metric around the time of the company's 2015 initial public offering.

China Wants More Private Money for Its State-Owned Energy Giants

Seeking to build national champions to rival the likes of Exxon Mobil, China is moving to boost private investment in its vast oil companies-and may be willing to slash their workforces in the process.

Maxus Energy Wins Court Approval of Chapter 11 Plan

Maxus Energy Corp. won confirmation Monday of a chapter 11 liquidation plan that spells out how its assets will be used to address New Jersey's contaminated Passaic River.

Saudi Minister: Oil Producers Are Keen to Extend Cuts

Oil producers are enthusiastic about extending crude output cuts by nine months, Saudi energy minister Khalid al-Falih said, the latest positive sign for efforts to trim a supply glut and prop up prices days before an OPEC gathering in Vienna.

Reform Can't Come Soon Enough for China's Oil Giants

China's state oil firms have long labored under high labor costs and price controls that depress returns. A new reform plan could change that-but only if China makes some tough choices, and quickly.

Why OPEC's Promises Aren't Enough to Please the Oil Gods

Major oil producers support extending OPEC's production cutbacks, but yet few traders believe the oil market is on the verge of a breakout. Here's why.

Get Ready for Peak Oil Demand

There's a growing consensus that the end of ever-rising consumption is in sight. The big question that many oil companies are debating: When? A lot is riding on the answer.

(END) Dow Jones Newswires

May 23, 2017 04:15 ET (08:15 GMT)