For the first time this year the price for a barrel of benchmark Brent crude oil has reached $50. The price had plunged over the past year, the effects of which weighed heavily on economies reliant on oil production.
Norway's trillion-dollar sovereign wealth fund is proposing to drop oil and gas companies from its holdings, saying it already has enough exposure to the industry and wants to protect against fluctuating oil prices.
The UN Security Council's compensation agency has announced Baghdad's desire to settle war reparations by 2021. Iraq had suspended compensation payments following the rise of the "Islamic State" militant group.
If you think that interest in crude will go down any time soon with the rise of electric cars, think twice, the International Energy Agency says. It expects global demand for oil to even rise in the decades ahead.
TransCanada Corp's Keystone pipeline leaked about 5,000 barrels of oil in South Dakota in the US. It comes days before neighboring Nebraska decides on the fate of the company's ambitious Keystone XL pipeline project.
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