News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

OPEC Agrees to Extend Crude Output Caps

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OPEC renewed an agreement to withhold some crude-oil supplies into March 2018, doubling down on its bet that it can raise prices despite soaring output from U.S. shale producers.

Oil Prices Fall on Fears OPEC Cuts Won't Ease Glut

Crude prices fell after major oil producers extended output cuts by less than some investors had hoped, with some analysts questioning whether the deal will be enough to break the market out of its current range.

BlackRock, Vanguard Mull Pressuring Exxon to Disclose Climate Risks

Two of the world's largest asset managers are strongly considering a public rebuke to Exxon Mobil over climate change at the company's annual meeting next week.

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Analysts See 71 Billion Cubic Feet Addition to U.S. Natural Gas Inventories

Analysts expect government data scheduled for release Thursday to show natural gas stockpiles grew by 70.5 billion cubic feet, about 20% less than normal for this time of year.

Coal Mines Reimagined as New Power Source

Coal-mine companies in the U.S. and Germany are trying to turn their old mines into enormous power-storage systems, using century-old technology to keep the lights on when a shortage of wind or sun makes new technologies inadequate.

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.

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.

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.

Seadrill Says Debt Restructuring Talks Are Progressing

Offshore drilling services company Seadrill Ltd. has made "significant progress" with its banks on the terms of a debt restructuring plan that will likely require filing for bankruptcy in the U.S. or U.K.

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.

(END) Dow Jones Newswires

May 25, 2017 11:15 ET (15:15 GMT)