News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Pulls Back on U.S. Output Forecast

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Oil prices edged down as the market weighed bullish sentiment on U.S. production against signals from Saudi Arabia that OPEC would be willing to extend production cuts beyond 2018.

Saudis Push for OPEC Oil Efforts Into 2019

Saudi Arabia's energy minister said Sunday that OPEC and other big-oil producing allies like Russia should find ways to cooperate beyond their petroleum-production limits this year.

Frackers Could Make Real Money in 2018, If They Don't Blow It

Shale producers say drilling plans for 2018 remain modest despite recently surging crude prices-a break with the industry's cycle of aggressive drilling when prices are high, creating an oversupply that pushes prices back down.

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U.S. Oil Output Expected to Surpass Saudi Arabia, Rivaling Russia

U.S. crude-oil production this year is expected to surpass Saudi Arabia's and rival that of Russia, the world's two largest oil producers, the International Energy Agency said, raising the prospect that a booming crude market could cool off.

Experts Rank Last Year Among Warmest in Modern Times

Global temperatures simmered at near-record levels in 2017, even as the world cooled slightly with the waning of a powerful El Nino event that had driven recent warming to levels unprecedented in modern times, federal climate experts said Thursday.

Keystone XL Pipeline Obtains Enough Shipper Commitments to Proceed

TransCanada announced that it has received enough commitments from oil shippers to advance construction of its controversial Keystone XL pipeline expansion.

New Type of Cyberattack Targets Factory Safety Systems

Hackers who attacked a petrochemical plant in Saudi Arabia last year gained control over a safety shut-off system that is critical in defending against catastrophic events.

OPEC Crude Production Rose in December

OPEC said its crude production rose by 42,000 barrels a day to average 32.42 million barrels a day in December amid a global effort to cut output.

U.S. Oil Supplies Fall as Gasoline Supplies Rise

U.S. inventories of crude oil and distillates fell for the week ended Jan. 12, while supplies of gasoline increased, according to data released Thursday by the Energy Information Administration. Crude supplies dropped by 6.9 million barrels, more than expected.

BP Returns to a Northern Iraq Now Free of Islamic State

BP will return to northern Iraq for the first time since Islamic State swept through the region three years ago, potentially heralding a new era of stability in one of the world's most dangerous energy-production provinces.

(END) Dow Jones Newswires

January 22, 2018 07:15 ET (12:15 GMT)