Oil

The number of rigs drilling for oil in the U.S. rose by 2 this week, to 751, Baker Hughes, a GE company, reported.

Oil prices edged up on Friday, helped by rising Chinese crude demand and threats of a strike in Africa's largest oil exporter.

Oil prices dipped on Friday as the U.S. dollar strengthened, although OPEC-led supply cuts are seen supporting markets going into next year.

Chevron Corp , the second largest U.S.-based oil producer, is budgeting $18.3 billion for capital projects next year, the company said on Wednesday, about 4 percent less than this year and lower for a fourth year in a row.

U.S. crude on Wednesday slid nearly 3 percent on Wednesday, its biggest daily decline in more than two months, after a sharp rise in U.S. inventories of refined fuel suggested demand may be flagging, while U.S. crude production hit another weekly record.

Oil edged higher on Tuesday, supported by strong demand, expectations of a drop in U.S. crude inventories and an OPEC-led deal to extend oil output cuts.

OPEC oil output fell in November by 300,000 barrels per day (bpd) to its lowest since May, a Reuters survey found, pressured by a drop in Angolan and Iraqi exports, strong compliance with a supply cut deal and involunary declines.

Oil fell on Monday after U.S. shale drillers added more rigs last week, though prices remained in sight of their recent two-year highs thanks to last week's decision by OPEC and other producers to extend output cuts.

Oil prices rose Friday following an agreement by OPEC and other big producers, including Russia, to keep limiting their output through the end of 2018.

OPEC and non-OPEC oil producers look poised to agree on Thursday to extend output cuts until the end of 2018 to finish clearing a global glut of crude while signaling they could exit the deal earlier if the market overheats.

Oil was mixed on Thursday after OPEC members agreed to extend curbs on output, though a final deal hinged on a decision by non-OPEC producers later in the day.

Oil markets opened cautiously on Thursday ahead of the outcome of an OPEC meeting in Vienna later in the day, with members set to debate the path for an extension of the group's supply-cut agreement.

Oil is in a solid bull market, and oil-producing nations are walking a tight-rope to keep the party going.

Oil prices eased on Tuesday, weighed down by uncertainty over the outcome of an OPEC meeting this week at which an extension to its price-supporting oil output cuts will be discussed.

Oil prices slipped in early Asian trade on Tuesday amid uncertainty over a possible extension of output cuts by major crude producers and expectations of higher supply as the Keystone pipeline restarts.

The Keystone crude oil pipeline will restart at reduced pressure on Tuesday, TransCanada said, nearly two weeks after closing the line after it leaked 5,000 barrels of crude in rural South Dakota.

Exxon Mobil CEO Darren Woods is reorganizing the company's refining operations, part of a push to boost profits amid volatile oil and natural gas prices, the company said on Monday.

TransCanada is making progress on cleaning up a 5,000-barrel oil spill from its Keystone pipeline in South Dakota, where a state official said on Monday the company has excavated the damaged section of pipeline.