News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Prices Rise Ahead of Crude Market Data

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Oil prices rose Monday as Saudi Arabia announced it would further curtail oil exports, but U.S. crude futures remained below $50 a barrel as investors awaited fresh data this week.

Saudi Aramco Cuts November Crude-Oil Allocation

Saudi Arabia has cut its crude-oil allocations for November by 560,000 barrels per day, an energy ministry spokesman said, despite strong demand from international seaborne customers and as the kingdom tries to rein in a global supply glut.

Helix Energy Solutions Exploring Strategic Alternatives

Offshore energy company Helix Energy Solutions Group is exploring strategic alternatives.

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Saudi Aramco on Track for IPO in 2018, CEO Says

Amin Nasser, the chief executive of Saudi Arabian Oil Co., said that the oil giant was on track with its planned initial public offering for 2018, though he didn't elaborate on the timing and where the listing would take place.

The Truth Is Catching Up With Tesla

Tesla CEO Elon Musk is a visionary, which has endeared him to Wall Street analysts and investors alike, but there is a fine line between setting aggressive goals and misleading shareholders.

U.S. Oil-Rig Count Fell by Two in Latest Week

The number of rigs drilling for oil in the U.S. fell by two in the past week to 748, according to oil-field services company Baker Hughes Inc.

Sembcorp Marine Sells Nine Drilling Rigs for Over $1.3 Billion

Sembcorp Marine said it has signed a deal worth over $1.3 billion with Borr Drilling to sell nine jack-up oil drilling rigs.

Iran Officials Refuse to Revise Nuclear Agreement

Iranian officials are refusing to make any changes to the landmark 2015 nuclear deal signed with six world powers, as President Trump weighs whether to declare that Tehran isn't complying with the accord.

Puerto Rico's Power Restoration Slowed by Miles of Downed Lines

Only 11% of customers have electricity as the antiquated grid, the financial straits of the local government and the island's terrain hinder the effort.

Behind Tesla's Production Delays: Parts of Model 3 Were Made by Hand

Tesla blamed "production bottlenecks" for making only a fraction of the promised 1,500 Model 3s. Unknown to analysts, investors and the hundreds of thousands of customers who signed up to buy it, as recently as early September major portions of the Model 3 were still being banged out by hand.

(END) Dow Jones Newswires

October 09, 2017 16:15 ET (20:15 GMT)