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. 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.
Global Investment in Wind and Solar Energy Is Outshining Fossil Fuels
Spending on renewable energy is outpacing investment in electricity from coal, natural gas and nuclear, driven by falling costs of producing wind and solar power.