HEADLINES: GE's Divestiture Might Be Good For Baker Hughes
Also this week, U.S. and Russia energy leaders talked Nord Stream 2 at the World Gas Conference, while Chevron and Exxon Mobil CEOs expressed trade conflict concerns.
Saudi Arabia Reportedly Planning Record-Breaking Boost In Oil Production
The move by Saudi Arabia, the world's top oil exporter, is a clear indication it is serious about bringing oil prices down, after major consumers raised concerns that prices were rising too high, too quickly.
Update - Oil Jumps As OPEC Agrees To Modest Output Increase
For about three weeks ahead of the OPEC meeting, oil prices had retreated from 3-1/2-year highs. However, Brent crude settled up 2.7% on the week, while WTI crude was up 5.5%.
Headlines: OPEC Considers Output; US Shale Producers Talk Tariffs
Also this week, Drillinginfo Co-founder Allen Gilmer discusses the company's bevy of recent deals.
Stratas Advisors: OPEC Meeting Preview
Saudi Arabia and Russia have both been lobbying for a change to the production deal, but few nations have come out in favor of an increase.
Russia, Saudi Push For Big Hike In Oil Production Ahead Of OPEC Meeting
Russian Energy Minister Alexander Novak said Russia wanted OPEC and non-OPEC to raise output by 1.5 million bbl/d, effectively wiping out existing production cuts.
Canada's Baytex To Buy Oil Producer Raging River For C$2.8 Billion
Canadian oil and gas producer Baytex Energy said it would buy rival Raging River Exploration for about C$2.8 billion (US$2.13 billion) to expand in the oil-rich Duvernay Field in Alberta.
Digital Technology Takes Spotlight At BHGE’s UNIFY 2018
Bringing digital technologies such as artificial intelligence and digital twin models to the oil patch has moved higher on the agendas of energy companies.
IEA Warns Of Potential ‘Supply Gap’ Ahead Of Key OPEC Meeting
The IEA forecast a 1.5 million-barrel drop in oil supply from OPEC members Venezuela and Iran.
Trump Renews Attack On OPEC; Claims Oil Prices Too High
"Oil prices are too high, OPEC is at it again. Not good!" Trump wrote in a post on Twitter on June 13 after last raising the issue in April.