Latest on Oil

Oil prices settled higher amid signals that major oil producers will stick to their agreement to cut production next year.

U.S. Politics Prompt Saudis to Rethink Financial Strategy

Saudi Arabia is re-evaluating its multibillion-dollar U.S. financial strategy because of shifts in the American political landscape, including whether to go elsewhere with the public stock debut of its state oil firm.

U.S. Oil-Rig Count Up by 12 in Week to 510

The number of rigs drilling for oil in the U.S. rose by 12 in the past week to a total of 510, according to oil-field services company Baker Hughes Inc.

Petróleo Brasileiro Signs Financing Deal with China Development Bank

Brazil's state-controlled oil company Petróleo Brasileiro signed a $5 billion financing deal withthe China Development Bank, the latest example of a troubled Latin American issuer reaching to Chinese institutions for help.

Chesapeake Energy Drills Deeper for Profit

Natural-gas giant Chesapeake Energy is drilling 'supersize' wells that run for miles underground, hoping to produce more fossil fuels for less cost and turn its fortunes around in an era of low oil prices.

Holiday Lights Are Pretty, but They Can Be Power-Hungry

Exactly how much energy an individual set of holiday lights will consume depends on the bulbs, and the difference is dramatic: The largest incandescent Christmas lights use 175 times more electricity than mini-LEDs, and even the smallest incandescent bulbs consume 10 times more energy.

Aramco Deals Face Uncertainty Under Trump Administration

The election of Donald Trump threatens to complicate efforts by Saudi Arabia's national oil company to purchase refineries and expand its petrochemical footprint in the U.S.

Trump Sends Mixed Signals on Ethanol Mandate

As a candidate Donald Trump backed the use of ethanol and other biofuels in gasoline, but his EPA pick opposes those federal rules, setting up high-stakes jockeying across several industries on what will become of the mandate.

Judge Approves C&J Energy's Bankruptcy-Exit Plan

C&J Energy Services Ltd. won bankruptcy-court approval of a chapter 11 restructuring plan that calls for lenders to swap out roughly $1.4 billion in debt in exchange for control of the company.

Royal Dutch Shell CFO Steps Down

Royal Dutch Shell said Simon Henry will step down as chief financial officer next year after he steered the Anglo-Dutch oil major through the acquisition of BG Group and a tumultuous period of low oil prices.

In Oil Face-Off, Saudis, Shale Both Claim Victory

A two-year battle for global oil supremacy that pit Saudi Arabia, head of the powerful oil cartel, against upstart U.S. shale producers left them both badly wounded but with each side claiming victory.

(END) Dow Jones Newswires

December 16, 2016 16:15 ET (21:15 GMT)

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