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Oil Trades Flat After API Reports Major Crude Draw By Julianne Geiger - Aug 07, 2018, 4:15 PM CDT   The American Petroleum Institute (API) reported a crude oil inventory draw of 6 million barrels of United States crude oil inventories for the week ending Aug 4, compared to analyst expectations that this week would see a draw in crude oil inventories of 3.33 million barrels . Last week, the American Petroleum Institute (API) reported a build of 5.59...

Canada’s Biggest Producer Cuts Drilling As Heavy Oil Price Tumbles By Tsvetana Paraskova - Aug 03, 2018, 8:00 PM CDT   Canada Natural Resources, the largest producer, is allocating capital to lighter oil drilling and is curtailing heavy oil production as the price of Canadian heavy oil tumbled to a nearly five-year-low relative to the U.S. benchmark price. Due to the transportation bottlenecks, the discount at which Western Canadian Select (WCS)...

UPDATE 8-U.S. crude strengthens as dollar slips to four-day low Jessica Resnick-Ault Published 21 Hours Ago Reuters                ...

Russia Plans $50 Billion Investment In Iran’s Oil, Gas Industry By Tsvetana Paraskova - Jul 13, 2018, 6:00 PM CDT   Russia is getting ready to invest US$50 billion in Iran’s oil and gas industry as the two countries continue to seek closer ties, just as the United States is looking to cut as much Iranian crude oil exports from the market as possible. “Russia is ready to invest $50bn in Iran’s oil and gas sectors,”...

Russia: Trump And Putin May Discuss Oil Market At July 16 Summit By Tsvetana Paraskova - Jul 05, 2018, 12:00 PM CDT   U.S. President Donald Trump and Russian President Vladimir Putin may discuss the state of the oil market at their summit on July 16, although there will be more important topics on the agenda, Kremlin spokesman Dmitry Peskov said on Wednesday. “It can be said with confidence that this matter will hardly be the leading one in the...