News for EXXON MOBIL CORP. (XONA.DU)

Saudi Arabia just made a high-stakes wager against "drill, baby, drill."

Upgrades For Boeing Co (NYSE:BA), Canaccord Genuity upgraded the previous rating of Hold to Buy. In the fourth quarter, Boeing showed an ...

Futures rebound ahead of pivotal jobs data

U.S. stock indexes firmed on Friday after a three-day pullback for the S&P 500 and the Nasdaq, as investors looked to data that is likely to show accelerated jobs growth in February....

U.S. stock indexes firmed on Friday after a three-day pullback for the S&P 500 and the Nasdaq, as investors looked to data that is likely to show accelerated jobs growth in February. Federal Reserve Chair Jerome Powell on Thursday maintained the central bank's dovish stance to support maximum employment and said inflation was not a worry at the moment. His comments disappointed investors who expected him to act on the recent spike in the U.S. 10-year Treasury yield that has set the S&P 500 and the Nasdaq on course for their third straight weekly decline.

(Bloomberg) -- Major oil sands producers in Western Canada will idle almost half a million barrels a day of production next month, helping tighten global supplies as oil prices surge.Canadian Natural Resources Ltd.’s plans to conduct 30 days of maintenance at its Horizon oil sands upgrader in April will curtail roughly 250,000 barrels a day of light synthetic crude output, company President Tim McKay said in an interview Thursday. Work on the Horizon upgrader coincides with maintenance at other cites.Suncor Energy Inc. plans a major overhaul of its U2 crude upgrader, cutting output by 130,000 barrels a day over the entire second quarter. Syncrude Canada Ltd. will curb 70,000 barrels a day during the quarter because of maintenance in a unit.The supply cuts out of Northern Alberta, following a surprise OPEC+ decision to not increase output next month, could add more support to the recent rally in crude prices. OPEC+ had been debating whether to restore as much as 1.5 million barrels a day of output in April but decided to wait.The Saudi-led alliance closely monitors other major oil producers as it seeks to manage the entire global market, and surging production in North America was its biggest headache in recent years -- especially from U.S. shale but also from Canada.“The U.S., Saudi Arabia, Russia, Canada, Brazil and other well endowed countries with hydrocarbon reserves -- we need to work with each other, collaboratively,” Saudi Energy Minister Prince Abdulaziz bin Salman said after the group’s meeting on Thursday.Read More: Saudis Bet ‘Drill, Baby, Drill’ Is Over in Push for Pricier OilCanada’s contribution to balancing the market with less production, much like slowing output in the U.S., is not a deliberate market-management strategy but significant nonetheless.Even though the output cuts are short-term, the battered oil-sands industry shouldn’t be a concern for the Saudis in the long run either, judging from McKay’s outlook for the industry.“I can’t see much growth in the oil sands happening because there is going to be less demand in the future,” he said. “The first step is we have to get our carbon footprint down.”After years of rising output turned Canada into the world’s fourth-largest crude producer, expansion projects have nearly halted on the heels of two market crashes since 2014.Adding to its struggles, Canada’s oil industry is being shunned by some investors such as Norway’s $1.3 trillion wealth fund amid concern that the higher carbon emissions associated with oil sands extraction will worsen climate change. These forces help make future growth in the oil sands unlikely, said McKay, whose company is among the largest producers in the country.Oil sands upgraders turn the heavy bitumen produced in oil sands mines into light synthetic crude that’s similar to benchmarks West Texas Intermediate and Brent. Syncrude Sweet Premium for April gained 60 cents on Thursday to $1.50 a barrel premium to WTI, the strongest price since May, NE2 Group data show.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

Australia's Macquarie was one of the largest winners in the cold snap, benefiting from record U.S. natural gas prices. It could collect a $317 million profit from the weather-related gas binge, , exxon mobil, australia, united states, West Texas

By keeping a tight grip on supply at OPEC+ meet, Saudi energy minister Prince Abdulaziz bin Salman showed he’s focused on boosting prices -- and confident that this time around it won’t encourage American producers to surge back and steal market share

Saudis Bet ‘Drill, Baby, Drill’ Is Over in Push for Pricier Oil

Exxon and Macquarie in $11.7 million U.S. lawsuit over gas contract

Shares rose 0.8% to $56.52. The stock is up more than a third this year, but over the longer term trails broader averages, , exxon mobil corp, investors, Dow Jones index, Adams Funds, chief financial officer, shares

Activist investor Starboard Value LP has taken a stake in Elanco Animal Health Inc. and nominated three directors to the company’s board, according to people familiar with the matter.

Exxon Mobil says the time has come to turn capturing carbon emissions into a real business, as it faces pressure from activists to become a greener company.

Oil prices have staged a rapid recovery since the biggest crisis to strike the energy industry in decades. Here is why U.S. crude prices have roared back above $60 a barrel from a low of minus $37.63 a barrel last April.

An ETF that's backed in part by Dave Portnoy, self-proclaimed head of the hordes of retail investors who have upended markets in recent weeks, raises...

The American Petroleum Institute is considering throwing its weight behind a government-imposed price on carbon dioxide emissions as a way to slow global w...

ValueAct's Top 5 Trades of the 4th Quarter, Stocks: FISV,AOS,KKR,MS,STX,XOM, ValueAct Holdings LP, release date:Mar 01, 2021

ValueAct's Top 5 Trades of the 4th Quarter, Stocks: FISV,AOS,KKR,MS,STX,XOM, ValueAct Holdings LP, release date:Mar 01, 2021

The battered and bruised US shale industry is finding a resurgence in one of the most unlikely places.