Big Oil back on the acquisition trail as outlook brightens

Big Oil back on the acquisition trail as outlook brightens

The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices.

World Bank boosts 2017 crude oil forecast to $55 per barrel

World Bank boosts 2017 crude oil forecast to $55 per barrel

The World Bank raised its crude oil price forecast for 2017 to $55 a barrel on Thursday from $53 a barrel, as it expects an output agreement among the Organization of the Petroleum Exporting Countries (OPEC) to help trim excess supply.