India, the third-biggest oil consumer, expects fuel demand to return to normal earlier than projections by the International Energy Agency and OPEC.

t has been a tough few months for the oil industry, and there’s more pain on the way as the industry struggles with disruptive forces that could completely transform it.

Oilfield services group Hunting Plc has cut its workforce by a fourth as low oil prices and weak demand slammed most of its business units in the second quarter, the company said on Monday.

Most news reports about oil this year have ranged from mildly to strongly negative for the battered industry. Occasionally, however, there is a glimmer of hope, such as the improvement in physical trading that has stabilized prices recently.

The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms.

The U.S. shale industry peaked without ever making money. Over the past decade and a half, the shale industry totaled $300 billion in net negative cash flow, wrote down another $450 billion in invested capital, and saw more than 190 bankruptcies since 2010, according to a new report from Deloitte.

Norway plans to offer up to 136 new oil exploration blocks in a major new licensing round, of which 125 lie in the Arctic Barents Sea, the country's Ministry of Petroleum and Energy said on Wednesday.

Abu Dhabi National Oil Company (ADNOC) said on Tuesday it had signed a $10 billion gas infrastructure deal with a consortium of investors, while its chief executive told Reuters the company would keep a tight lid on costs amid low oil prices.

The shortage of pipeline space that has hamstrung Canada’s oil producers for years may finally be over -- just not in the way they had hoped.

To understand why physical crude oil prices are rising across Europe, look to Russia.