Occidental will operate the 51/49 JV with Ecopetrol.

Occidental Petroleum Corp. and Colombia-based Ecopetrol S.A. reported Wednesday that they will form a joint venture (JV) to develop 97,000 net acres of Occidental-owned Midland Basin properties in West Texas.

WTI and Brent futures finished higher for the fifth consecutive trading day.

West Texas Intermediate (WTI) and Brent crude oil futures finished higher for the fifth consecutive trading day.

No country can simply disengage from the global market, regardless of how much oil it is producing individually.

As tensions continue to mount between the U.S.

U.S. independent Whiting Petroleum Corporation cut one-third of its workforce as it executes a restructuring of its business.

U.S. independent Whiting Petroleum Corporation cut one-third of its workforce as it executes a restructuring of its business.

BP bucked the trend of disappointing oil and gas earnings.

(Bloomberg) -- BP Plc bucked the trend of disappointing oil and gas earnings, beating expectations and increasing its cash flow as higher oil rig flanges gulf coast production offset the effect of lower energy prices.

Oil extended gains on speculation that demand will get a boost from a potential rate cut by the Federal Reserve.

(Bloomberg) -- Oil extended gains on speculation that demand will get a boost from a potential rate cut by the Federal Reserve, while investors await news from the resumption of U.S.

Both the WTI and Brent contracts rallied Tuesday amid Fed speculation.

West Texas Intermediate (WTI) and Brent crude oil futures rallied Tuesday, buoyed by .