The price for September futures of West Texas Intermediate (WTI) dropped by 0.14 percent and stood at $49.09 per barrel.

Oil production has risen amid efforts to shift excess supplies.

Brent crude oil prices were expected to remain broadly unchanged in 2018 as U.S. shale production is able to expand at these levels. effectively capping prices.

The US sanctions against Venezuelan President Nicolas Maduro is an attempt to oust the ".unpleasant". for Washington leader.

Novatek is one of Russia’s largest independent producers of natural gas.

Halliburton today announced an agreement with GroundMetrics. a San Diego company specializing in the development of electromagnetic sensor systems. to deliver full field reservoir characterization and monitoring services.

Schlumberger’s new integrated solution-based web platform takes artificial lift monitoring and analysis to next level.

Despite production cuts. kingdom holds onto 40% slice by discounting light grade.

In July. Iran managed to ship over 2.2 million barrels of crude oil to Asian and European markets.

Zohr was discovered by Eni in August of 2015 and. with a total potential of 850 billion cubic meters of gas in place. is the largest natural gas field ever discovered in the Mediterranean.