On 12 Jul, 2016
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.
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.
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.
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.