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EIA Cuts 2016 US Oil Demand Growth Forecast

On 12 Jul, 2016

EIA Cuts 2016 US Oil Demand Growth Forecast

The U.S. Energy Information Administration cut its forecast for U.S. oil demand growth in 2016, and increased its demand growth forecast for 2017, according to a monthly outlook issued on Tuesday.

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Energy Failures Push US High-Yield Default Rate to 6-Year High

On 12 Jul, 2016

Energy Failures Push US High-Yield Default Rate to 6-Year High

U.S. high-yield bonds in default reached the highest levels in at least six years as more energy companies buckled under pressure from stagnant oil prices.

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Nexen to Cut 350 Jobs in Canada After Oil-Sands Explosion

On 12 Jul, 2016

Nexen to Cut 350 Jobs in Canada After Oil-Sands Explosion

Cnooc Ltd.’s Nexen Energy unit will eliminate 350 jobs this year after deciding not to repair its Long Lake oil-sands upgrader in northern Alberta following an explosion in January.

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High Stakes Legal Ruling Looms In South China Sea Dispute

On 12 Jul, 2016

High Stakes Legal Ruling Looms In South China Sea Dispute

An arbitration court in The Hague will rule on Tuesday in a dispute about the South China Sea in which the Philippines is challenging China's right to exploit resources across vast swathes of the strategic territory.

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