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News Highlights : Top Energy News of the Day

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06/14/2018 | 06:16am CEST
Saudis, Russia to Talk Oil Output Boost Ahead of OPEC Summit 
 

Saudi Arabia's oil minister is flying to Russia this week to discuss ways to manage an output boost both producers say they want to propose at an OPEC summit.

 
Natural Gas Inventories Due to Rise 89 Billion Cubic Feet 
 

Government data due Thursday is likely to show that stockpiles of natural gas rose by 89 billion cubic feet of gas in the week ended June 8, slightly less than usual for this time of year.

 
U.S. Demand Boosts Oil Prices 
 

Oil prices bounced to the highest close this month as strong U.S. demand ate into crude and fuel inventories.

 
U.S. Crude Oil and Fuel Inventories Decline 
 

U.S. inventories of crude oil declined by 4.1 million barrels, far more than the 1.6 million barrels estimated, for the week ended June 8, according to government data.

 
Side Effect of Rising Oil Drilling: Indigestion for Gas Frackers 
 

Companies are responding to rising prices by drilling for more oil, but the natural gas byproduct they often unearth is further weighing on already low gas prices and on shale frackers in regions that primarily produce gas.

 
Oil Companies Seek to Dismiss New York City's Climate-Change Lawsuit 
 

Lawyers for major oil companies asked a federal judge Wednesday to dismiss a lawsuit filed by New York City, arguing they shouldn't be held responsible for damages the city says are caused by climate change.

 
CK Infrastructure Bids More Than $9 Billion for Australian Pipeline Firm 
 

Victor Li, the new chairman of Hong Kong's CK Infrastructure, moved to expand the empire built by his billionaire father, Li Ka-shing, by offering more than $9 billion for an Australian pipeline operator.

 
Tesla Cutting About 9% of Global Workforce 
 

Car maker Tesla is cutting about 9% of its global workforce, or 3,500 workers, according to a memo to employees that says the move is aimed at reducing costs and becoming profitable.

 
Saudi Arabia Drives Rise in OPEC Oil Output 
 

OPEC pumped more oil last month driven by higher output from Saudi Arabia, the cartel's de facto leader, which has for more than a year led a coalition of big producers in curbing production.

 
Elliott Management Pushes for Changes at Sempra Energy 
 

Activist Elliott Management is hoping to strike a deal with the energy-services holding company and its CEO Jeff Martin to replace six board members and initiate a strategic review of the company.

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