Oil

Oil dipped on Wednesday, squeezed by lingering oversupply including rising U.S. inventories and ample physical flows.

The Paris-based International Energy Agency raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd.

The Paris-based International Energy Agency raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd.

The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday.

OPEC said on Monday world oil demand would grow faster than expected in 2018.

Oil rose 2 percent on Monday, recovering some of last week's steep losses as global equities steadied after their largest one-week slide in two years.

Oil prices fell further Friday as investors continue to worry about a surge in U.S. production and the selloff in equity markets.

Oil prices fell to their lowest in six weeks on Thursday after data showed U.S. crude output had reached record highs and the North Sea's largest crude pipeline reopened following an outage.

California will block the transportation through its state of petroleum from new offshore oil rigs, officials told Reuters on Wednesday, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S. federal waters.

Liberty Oilfield Services Chairman Chris Wright discusses the increase in U.S. oil production and why undeveloped countries will demand it.

Oil held mostly steady on Wednesday, as the boost from a report showing a drop in U.S. crude inventories last week was offset by evidence of soaring U.S. output.

Oil fell for a third day on Tuesday as the U.S. dollar rose to its highest in more than a week in the wake of a sharp sell-off on Wall Street.