Oil

Most of the world’s major oil companies are trying to reduce their presence in Venezuela but one small American firm is eager to work there.

Chevron on Friday reported earnings of $1.03 per share on revenues of $36.21 billion, both up from last year.

Exxon Mobil reported it earned 93 cents per share on $66.2 billion in revenue, beating estimates on both the top and bottom line.

A default at Venezuelan oil giant PDVSA or sanctions on Iran’s energy sector could jolt crude prices higher, Helima Croft said.

U.S. oil production will crack a nearly 50-year record in 2018, rising to 10 million barrels a day, the EIA forecast.

The U.S. oil industry exported a record 1.3 million barrels of crude oil per day onto the world market last week, according to U.S. data.

OPEC extended its crude oil output cuts by nine months, but some investors expected the cartel to do more.

It looks like the S&P 500 and crude oil are starting to pay closer attention to each other.

OPEC faces a serious price crash if it doesn’t put the best face possible on its production deal and extend it when it meets in May.

The investment bank expects high compliance for production cuts by OPEC members as well as non-member countries.

Higher than anticipated demand for OPEC crude combined with the historic deal in December with non-OPEC nations to cut production is forecast to rebalance the oil market in the second half of 2017, according to OPEC’s latest monthly report.

Oil prices slipped on Friday as the market refocused on a persistent fuel supply overhang that is not expected to abate.

An agreement by OPEC to work toward a production cut could put a floor under oil and points to the strain low crude prices have had on producers.

Bob Pisani takes a look at reports that OPEC has agreed to cap oil production.

A freeze in production by OPEC members would not include Nigeria, according to the country’s oil minister.