Latest on Oil

U.S. crude prices settled 2.7% lower, weighed down by a stronger dollar and concerns that rising U.S. shale production may offset a move by major producers to cut global supply.

OPEC Says Oil Output Fell After Production Deal

OPEC production fell in December after the cartel made a historic agreement to slash output, but its members still have some way to go before achieving their targeted reduction in petroleum output.

U.S. Fuel Economy Gains Stall for Auto Industry

The average fuel economy of light vehicles sold continued to level off in 2016 compared with gains made in prior years as Americans continue to opt for heavier vehicles, a trend likely to stoke the auto industry's concern buyers won't want more fuel-efficient vehicles being mandated by the government.

Last Year Was Warmest on Record, Climate Experts Say

Rising global temperatures in 2016 set a record for the third year in a row, as federal climate experts rated it the warmest year world-wide since modern record keeping began.

Exxon Mobil Expands Permian Basin Footprint

Exxon Mobil is the latest company to expand in Texas' red-hot Permian basin, announcing a deal Tuesday to buy companies owned by the Bass family for $5.6 billion in stock and up to $1 billion in additional payments.

Elliott Pushes for Changes at NRG Energy

Hedge fund Elliott Associates LP said Tuesday that it has teamed with Bluescape Energy Partners LLC to buy a combined 9.4% stake in NRG Energy Inc. and pursue changes at the power company to boost its value.

Ultra Petroleum Settles Lawsuit Over Use of Gas Pipeline

Ultra Petroleum has settled a $303 million lawsuit accusing the oil and gas explorer of missing payments owed for using a major U.S. natural gas pipeline in the months before seeking bankruptcy protection.

TVA Board Vacancies Raise Possibility of Coal Shift

President-elect Donald Trump is poised to bring in new leadership to the Tennessee Valley Authority, prompting concerns that the nation's largest public power company could be in for a strategy shift about its coal use.

China's Oil Output Set for Long-Term Slump

China's oil production has entered a long-term decline, the government acknowledged, signaling that the country will become increasingly dependent on imports.

Saudi Oil Minister Plays Down U.S. Oil Rebound Concerns

Saudi Arabia's oil minister Tuesday said U.S. oil production will take time to bounce back amid concerns resurgent prices driven by OPEC production cuts could benefit North American rivals.

Noble Energy to Buy Oil and Gas Company Clayton Williams

Noble Energy will pay $2.7 billion to buy Clayton Williams Energy in adeal that will give it a combined 120,000 acres of oil-rich property in West Texas.

(END) Dow Jones Newswires

January 18, 2017 16:15 ET (21:15 GMT)

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