Oil

Oil prices rose nearly 1 percent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia.

Oil prices rose nearly 1 percent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia.

President-elect Donald Trump tapped Exxon Mobil Corp. Chief Executive Rex Tillerson as his choice for Secretary of State. But Mr. Tillerson may face bipartisan resistance from Congress over his ties to the Middle East and Russian President Vladimir Putin.

President-elect Donald Trump tapped Exxon Mobil Corp. Chief Executive Rex Tillerson as his choice for Secretary of State. But Mr. Tillerson may face bipartisan resistance from Congress over his ties to the Middle East and Russian President Vladimir Putin.

Oil futures were hovering above a two-year high on Friday, boosted by indications that the global market is rebalancing after years of price pressure from a supply glut.

Oil futures were hovering above a two-year high on Friday, boosted by indications that the global market is rebalancing after years of price pressure from a supply glut.

Oil prices were little changed on Wednesday as rising political tensions in the Middle East offset U.S. government data showing an increase in domestic crude production and a surprise build in stockpiles.

Oil prices were little changed on Wednesday as rising political tensions in the Middle East offset U.S. government data showing an increase in domestic crude production and a surprise build in stockpiles.

Oil prices have finally started to gain a foothold, but the first quarter could prove a “make or break” period.

Oil prices have finally started to gain a foothold, but the first quarter could prove a “make or break” period.

Saudi Arabia neared the precipice of change over the course of a weekend amid increased tensions with Iran and the momentous and unprecedented palace purge of dozens of royal officials at the hands of Crown Prince Mohammed bin Salman.

Saudi Arabia neared the precipice of change over the course of a weekend amid increased tensions with Iran and the momentous and unprecedented palace purge of dozens of royal officials at the hands of Crown Prince Mohammed bin Salman.

Oil settled lower on Tuesday after rising to the highest since July 2015 the previous day.

Oil settled lower on Tuesday after rising to the highest since July 2015 the previous day.

The good times for U.S. oil producers won’t last for long, with the Organization of the Petroleum Exporting Countries (OPEC) forecasting in its 2017 World Oil Outlook (WOO) that U.S. tight oil output will peak in 2025.

The good times for U.S. oil producers won’t last for long, with the Organization of the Petroleum Exporting Countries (OPEC) forecasting in its 2017 World Oil Outlook (WOO) that U.S. tight oil output will peak in 2025.

Global demand for OPEC's crude will rise in the next two years more slowly than expected, the group forecast, as a recovery in prices resulting from an OPEC-led supply cut stimulates renewed output growth from non-members.

Global demand for OPEC's crude will rise in the next two years more slowly than expected, the group forecast, as a recovery in prices resulting from an OPEC-led supply cut stimulates renewed output growth from non-members.