Oil Rallies to Multi-Year Highs on Venezuela Worries
U.S. crude hit its highest level since 2014 amid rising concerns that Venezuela's oil output could fall further following the country's presidential election and potential sanctions on the OPEC-member nation.



(Bloomberg) -- After paying more than $65 billion in legal costs for the Deepwater Horizon catastrophe, BP Plc is wary of the risk of lawsuits related to climate change.



Production Vessel at Ghana's Jubilee Oilfield to Shut Temporarily
The oil rig flanges gulf coast production vessel at Tullow's flagship Jubilee oilfield off Ghana's west coast will shut down next week for 21 days while it undergoes repairs, the country's power utilities said.



Echo Energy Announces Gas Discovery Onshore Argentina
Echo Energy plc announces a gas discovery at the ELM-1004 exploration well, which is located at the company's Fracción C asset onshore Argentina.



Ophir Energy CEO Steps Down
Ophir Energy plc announces that Nicholas Cooper, its current chief executive officer and executive director, has stepped down from the board with immediate effect.



Flow Test at Egyptian Well Exceeds Expectations
Flow testing at SDX Energy Inc's Ibn Yunus-1X discovery, located within South Disouq in Egypt, exceeds the company's expectations.

Flow testing at SDX Energy Inc’s Ibn Yunus-1X discovery, located within South Disouq in Egypt, has exceeded the company’s expectations, according to SDX president and CEO, Paul Welch.



Baker Hughes: US Oil Rig Count Holds Steady After Six Weeks Of Gains
The US oil rig count held steady this week after rising for 6 weeks in a row even as crude prices soar to multi-year highs.



Putin Seeks Common Cause With Merkel Over Trump
Putin says he would stand up to any attempts by US President Donald Trump to block a Russian-German gas pipeline project.

Reuters



Oil Prices Fall, Brent Notches Sixth Week Of Gains
Oil prices fell, but Brent crude marked its sixth straight week of gains.

Reuters

NEW YORK, May 18 (Reuters) - Oil prices fell on Friday, but Brent crude marked its sixth straight week of gains, boosted by plummeting Venezuelan production, strong global demand and looming U.S.



Reuters

RIYADH, May 18 (Reuters) - Saudi Arabia said on Friday it is consulting other oil producers in and outside OPEC to ensure the world has adequate supplies to support economic growth after prices hit $80 a barrel for the first time since 2014.

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