United Airlines posts $434 million 2Q loss but revenue up darientimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from darientimes.com Daily Mail and Mail on Sunday newspapers.
Oil posted its third straight weekly rise on improving demand, with the International Energy Agency (IEA) saying that the market would need extra supply next year.
Futures in New York rose this week, extending their rally to the highest settle since October 2018.
The IEA said that OPEC and its allies would need to lift output to keep the market adequately supplied, although the agency predicted demand would not reach pre-pandemic levels until late next year.
Meanwhile, road traffic in the US and much of Europe is largely back to levels seen before the COVID-19 pandemic.
“People want to get out this
Home Depot beats estimates amid reopening sales; shares rise bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
EnergyOccidental Petroleum says federal leasing ban would hurt U.S. oil growth
Reuters
3 minute read
The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo
U.S. oil and gas producer Occidental Petroleum Corp (OXY.N) said federal drilling permits are moving forward in the Permian Basin shale field following a federal pause this year, but a longer-term ban could hurt U.S. oil output.
Producers are likely to continue to be able to secure permits on existing federal leases, but Chief Executive Vicki Hollub said on Tuesday she was concerned about the possibility of a federal moratorium on new oil and gas leases going forward. The Biden administration is reviewing the federal oil and gas leasing program.