Oil

Oil prices dipped for a second straight day on Tuesday, driven by ongoing evidence of rising U.S. crude output, while wary investors sold off stocks, bonds and commodities.

The oil giant's CEO said Exxon Mobil may further expand along the Gulf Coast as a result of tax cuts.

Oil dipped on Monday as soaring North American production was seen undermining efforts led by OPEC and Russia to tighten supplies.

U.S. energy companies added 12 oil rigs this week, the biggest weekly increase since March, as crude prices hovered near their highest levels since 2014

Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC-led supply curbs, a record-breaking run of declines in U.S. crude inventories and a weaker U.S. dollar.

Oil prices fell on Wednesday, weighed down by data that showed an increase in U.S. crude oil and gasoline inventories.

Oil rose more than 1 percent on Tuesday, with benchmark Brent crude hitting $70 a barrel for the first time in a week, boosted by healthy world economic growth prospects and expectations for continued production curbs by OPEC, Russia and their allies.

Oil slipped on Monday under pressure from rising Libyan output and concerns that a rally that had sent prices to their highest since December 2014 had run out of steam.

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.