Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude rallying, analysts see no immediate need for action.     Read Article  +

On Friday, U.S. intelligence officials told reporters they saw the potential for an economic and political meltdown in Venezuela.      Read Article  +

Benchmark West Texas Intermediate crude has been hovering around $46 a barrel, a six-month high, as U.S. oil production cutbacks shrink the supply glut and leave markets more sensitive to supply disruptions.     Read Article  +

The average price for Brent crude over the past 50 days is set to rise above its 200-day average to form a pattern known as a golden cross that’s typically seen as a sign of bullishness.      Read Article   +

Venezuela’s oil industry is at risk of grinding to a halt, along with the rest of the nation, as El Guri, Venezuela’s largest hydroelectric power facility, could see a drop in output of 3,800 megawatts if eight of 18 turbines are shut down.     ...  +

Even as Saudi Arabia attempts to reduce its dependence on oil, the kingdom’s economic battle over the oil market with Iran, Russia and others is intensifying, a contest that OPEC officials say won’t settle down until geopolitical rifts in the Midd...  +

A growing overhang of gasoline and diesel fueled a sharp sell-off in oil futures on Monday that reversed a recent rally over the wildfires in the heart of Canada's oil sands region, traders and analysts said.        Read Article  +

Saudi Arabia’s crown as top crude supplier to Asia—home to some the world’s biggest and fastest-growing oil consumers—is slipping.     Read Article  +

Oil prices were volatile after two days of losses as investors weighed potential production outages in Canada against data showing another increase in US crude stocks.     Read Article  +

The worst wildfire in Alberta history is boosting Canadian crude prices as oil companies evacuate workers and shut in as much as a million barrels a day of output.     Read Article  +