Iraq

OPEC members teamed up with other energy giants like Russia to collectively lower their output in 2016 to help support oil prices. The agreement was extended in June of 2017, but now there is ample evidence to suggest the deal is falling apart. Countries including Libya and Nigeria were exempt from...

Members of the Organization of the Petroleum Exporting Countries and other oil producers are set to meet this Thursday to discuss extending output cuts. The current cuts, an output reduction of 1.8 million barrels per day for six months, were decided in November and implemented on January 1. The...

The U.S. Army has issued guidelines to ground troops dealing with an increasingly deadly new menace: “low, slow, small” drones that gather intelligence and may be weaponizable. The Counter-Unmanned Aircraft System Techniques drills down to the company level, even advising soldiers who...

A private, for-profit aeronautics school in Oklahoma has been named as the principal contractor on a potential $1.06 billion deal to train pilots and aviation mechanics in Iraq. The whopping contract is a huge deal for the cutting-edge Spartan College of Aeronautics and Technology — which...

After months of negotiations and disputes, OPEC has reportedly agreed to its first crude oil production cut since 2008. At a meeting in Vienna, sources said OPEC has finalized a deal that is in line with a plan discussed in September to cut production from 33.6 million barrels per day (bpd) to...

This week, Exxon Mobil Corporation (NYSE: XOM) reported the discovery of a massive new oilfield in offshore Nigeria that could contain up to one billion barrels of oil. On the surface, the Owowo discovery seems like great news for Exxon and its shareholders, but a number of market analysts have...

BENZINGA: We're on today with Cale Smith down in Islamorada, down in the keys. He's the manager of the Islamorada Investment Management. Cale, we've met a few times, talked several times, and you've just done something very unique. You've gone all in on oil, haven't you? Cale Smith: Yeah, we have,...

Global markets have remained relatively stable in the aftermath of the Paris attacks. Citi believes that the lasting market impacts from the attack could stem from a ramp-up in anti-terrorist military action. Furthermore, Citi believes that commodity prices could also be negatively affected by the...

U.S. oil rig counts fell by 16 this week, the ninth consecutive week of declines. A Reuters survey also indicates that OPEC production declined modestly in the month of October. Crude oil prices are on pace to finish the week higher after two straight weeks of declines. This week’s Baker...

In a report published Monday, Deutsche Bank strategist David Bianco offered investors 10 key themes heading into the summer months. "S&P reached a new high of 2130 last Thursday on an 18 trailing PE, the highest since 2010 despite anemic EPS growth expected this year," Bianco wrote. "Both EPS...

Since November 2014 when OPEC decided against a production cut, crude prices have been rapidly declining, oil companies have been struggling to stay afloat and share markets have been pummeled. The volatile trading environment and uncertainty about the long-term effect crude prices could have on...

Brent crude oil traded steadily at $102.10 at 8:10 GMT as the global supply glut weighed on prices. The commodity has been unresponsive to instability in Eastern Europe, Africa and the Middle East and instead, driven by economic data. This year, global supplies are expected to outpace demand...

Brent crude oil made its way toward $105 on Wednesday morning after falling to a nine-month low on Tuesday as soft global demand weighed on prices. The commodity traded at $104.82 at 6:20 GMT following the release of U.S. inventory data, which showed a larger than expected drop. The American...

Brent crude oil continued to founder after prices fell 5.6 percent in July, the biggest monthly loss since April 2013. The commodity traded at $106.04 at 6:50 GMT as views that the market is over-supplied outweighed geopolitical tension around the world. Most analysts don’t see global...

Brent crude oil is set to end its third consecutive week on a loss. The commodity traded at $108.55 as supply issues in the Middle East and Africa dissipated. According to Reuters, Libya’s National Oil Corp reported that the nation’s El Sharara oil field has begun to ramp up production...