Oil

BP's annual energy report is the latest to signal a shift in world energy markets as a result of the U.S. shale oil boom, as the nation recorded the world's largest increase in production last year.

The energy firm scrapped plans for a $2 billion oil pipeline that would have connected refiners in California to a supply of West Texas crude oil.

The GE giant is investing billions of dollars in the shale oil boom, as it looks to improve hydraulic fracturing and increase its footprint in the services field.

The rapid increase in U.S. shale oil production, which is expected to give the nation energy self-sufficiency by the end of this decade, is having a far-ranging impact.

Oil prices plummeted more than 3% Wednesday after a report showed crude inventories surged last week to their highest level on record. 

The No. 2 oil company said its first-quarter earnings slipped 4.5% amid falling oil prices.

Oil prices recoiled 6% on Monday, again nearing the pivotal $30-a-barrel threshold before the close, after news that Iraq's output reached a record last month returned attention to a market glut that sent prices to 12-year lows last week.

Oil prices recoiled 6% on Monday, again nearing the pivotal $30-a-barrel threshold before the close, after news that Iraq's output reached a record last month returned attention to a market glut that sent prices to 12-year lows last week.

Shell plans to sell its stake in the Eagle Ford Shale in Texas, after reporting a $2 billion write-down of the oil company's North American assets.

The shale oil boom that has led to resurgence in U.S. production could be replicated globally, per a new study from research firm IHS Global Insight.

Spanish oil giant Repsol is reportedly looking to acquire a North American oil company in an effort to take advantage of the U.S. oil boom and invest in politically stable countries.

The oil producer said it plans to sell its interest in an offshore Angola block for about $590 million, while buying acreage at the Eagle Ford shale play.

Halliburton, the world's No.2 oilfield services provider, reported a better-than-expected quarterly adjusted profit as deep cost cuts helped offset the impact of a drop in drilling activity.

Halliburton, the world's No.2 oilfield services provider, reported a quarterly loss compared with a year-ago profit, as it recorded $282 million in charges related to asset write-offs and other items

Oil prices fell 4 percent on Monday as Iraq announced record-high oil production feeding into a heavily oversupplied market, wiping out much of the gain made in one of the biggest-ever daily rallies last week.

Oil prices surged as much as 10% on Friday, one of the biggest daily rallies ever, as bearish traders who had taken out record short positions scrambled to close them, betting the market's long rout may finally be over.

Schlumberger Ltd Chief Executive Paal Kibsgaard said a "significant" recovery in oilfield activity was not expected until 2017, and he indicated that the company might struggle to meet analysts' estimates for its current-quarter profit.

Chesapeake Energy, battling weak prices for oil and natural gas, suspended dividends on its preferred shares in an effort conserve cash.