The world’s largest publicly listed oil company says ample production from U.S. shale regions will keep prices subdued for years to come, disagreeing with others in the industry who have warned about a looming shortage. Rex Tillerson, chief executive officer at Exxon Mobil Corp., presented an upbeat view of how technology will allow companies to... Continue Reading →

Halliburton Co. eked out a surprise profit in the third quarter as the world’s second-largest oil services company gained business from oil producers that are beginning to ramp up operations following the worst crude-market crash in a generation. After calling the bottom of the oil cycle three months ago, Halliburton reported its first North American... Continue Reading →

For six years, Brazil’s central bank failed to achieve its mandate of ensuring price stability, damaging its credibility and eroding Brazilians’ purchasing power. Even as the nation’s economy nose-dived into the worst recession on record, policy makers had little choice but to stick with one of the highest interest rates among G-20 nations. But now, with central-bank... Continue Reading →

Brazil will probably reduce interest rates this week for the first time in four years, in what is set to be the beginning of a long and deep series of rate cuts expected to help the economy emerge from a two-year-long recession. Forty-six of 50 economists polled by Reuters expect the central bank to cut... Continue Reading →

Oct 17/Reuters Brazil will stop favoring companies that offer to purchase a larger amount of local goods and services when selecting winners in oil and gas rights auctions, newspaper Valor Economico reported on Monday. In previous auctions, companies that offered more in the way of local content requirements were favored over peers. The newspaper said... Continue Reading →