Oil

A bounce-back in U.S. production sent oil prices sliding more than 1 percent on Friday.

Oil slipped towards $69 a barrel on Thursday, weighed down by a reported rise in U.S. fuel stocks and expectations that OPEC-led efforts to boost prices by cutting output will increase supply from the United States and other rivals.

OPEC has raised its forecast for oil supply from non-member countries in 2018 as higher prices encourage U.S. shale drillers to pump more, offsetting anOPEC-led deal to clear a supply glut and a deepening plunge in Venezuelan production.

Oil prices ended higher on Wednesday ahead of the release of U.S. petroleum data that was expected to show a ninth straight weekly drawdown in crude inventories.

The president is one of the many wild cards that analysts at Citigroup think might drive crude back into the $80s.

Oil prices dropped off three-year highs on Tuesday as traders booked profits but healthy demand underpinned prices near $70 per barrel, a level not seen since the market slump in 2014.

U.S. oil output is about to push past the more than 10 million barrels per day mark thanks to surging shale production.

Hess is cutting roughly 13 percent of its workforce and streamlining operations.

BP's fourth-quarter profits will take a hit from a multibillion-dollar charge related to the company's fatal blowout in the Gulf of Mexico eight years ago.

Oil hovered near a three-year high above $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, although analysts warned of a “red flag” due to surging U.S. production.

Oil prices rose for a sixth day on Friday after Russia’s oil minister said that global crude supplies were “not balanced yet,” alleviating market concerns about a wind-down of the OPEC-led deal to reduce production.

U.S. energy companies added 10 oil rigs this week, the biggest increase since June, as crude prices rose to their highest levels in three years, prompting drillers to return to the well pad.

U.S. stock futures rose and pointed to a positive open for Wall Street on Friday.

Oil prices hit three-year highs on Thursday.

The real-world fuel economy of new U.S. cars and trucks hit a record 24.7 miles per gallon in the 2016 model year, a government report said,

Crude oil prices jumped on Wednesday and settled near three-year highs after U.S. government data showed a drop in crude inventories and production, even as fuel inventories rose.