IEA: oil market could be tipped into deficit

Venezuela is likely to remain the biggest risk factor among leading oil producers for some time to come, according to the latest report from the International Energy Agency (IEA). "Within the OPEC countries, the biggest risk factor …

Africa to join OPEC-led oil cut

An extra 10 to 12 oil-producing countries have been invited to join an OPEC-led output cut aimed at getting rid of a supply glut, Venezuela’s oil minister Eulogio del Pino said. Eulogio del Pino, …

Why the U.S. exports oil

Light, sweet crudes coming out of the U.S. shale plays are often a better fit for certain foreign refineries