News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Pauses Ahead of OPEC Meeting

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Oil prices were little changed, after five straight days of gains on the back of expectations that major producers will announce output cuts on Thursday.

U.S. Oil Inventories Drop More Than Expected

U.S. crude-oil supplies fell by 4.4 million barrels for the week ended May 19, twice what analysts were expecting, while gasoline and other fuel supplies also declined, according to EIA data.

OPEC Tries to Solidify Pact With Non-OPEC Producers

OPEC ministers say they are trying to solidify their coalition of producers from outside the cartel, throwing a lavish dinner and suggesting their work with non-OPEC nations like Russia could extend beyond this year or next.

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Dong Energy Sells Oil & Gas Unit for Up to $1.3B

Danish utility Dong Energy, part-owned by Goldman Sachs, announced it is selling its upstream oil and gas business to INEOS for up to $1.3 billion.

Does the U.S. Still Need to Hoard Oil in Reserve?

President Donald Trump's proposal to help reduce the national debt by selling down more of the U.S. emergency oil stockpile has revived questions about whether the reserves are still crucial to the country's economic security.

OPEC Boss Embraces Shift to Top Diplomat

During a turbulent year for oil prices, OPEC chief Mohammad Barkindo has embraced a role as the global energy industry's chief diplomat, reaching beyond the group in a way few of the cloistered cartel's officials have in the past.

How American Shale Drillers Flipped OPEC's Script

When OPEC agreed to curtail production to bolster crude prices, it was betting U.S. shale drillers would be too weak to fill the void. But with Wall Street behind them, American producers have put the cartel on its heels.

Brazil's Odebrecht Energy Unit Renegotiates $5 Billion in Debt

Troubled engineering conglomerate Odebrecht SA's oil and gas arm said late Tuesday it has entered into an agreement with a group of creditors to restructure its financial debt.

Saudi Sovereign-Wealth Fund Head Joins Softbank Board

Appointment shows the growing partnership between the Japanese tech company and the Saudi kingdom.

Why OPEC Wants to Extend Oil Cuts: Aramco's Coming IPO

Saudi Arabia is pushing the OPEC oil cartel and other big producers to extend crude production cuts for another nine months to give a boost to the coming IPO of Saudi Arabian Oil Co.

(END) Dow Jones Newswires

May 24, 2017 11:15 ET (15:15 GMT)