Charif Souki

Angola to Leave OPEC After Production Quota Dispute Angola said it is leaving the Organization of the Petroleum Exporting Countries, according to official news agency Angop, after a recent dispute over oil production quotas with the cartel. Harbour Energy Buys Wintershall Dea Upstream Assets for $11.2 Billion Harbour Energy said it would buy most of the upstream assets of oil-and-gas producer Wintershall Dea for $11.2 billion from its shareholders BASF and LetterOne.

Oil futures tally a third straight gain on Red Sea shipping disruptions Oil futures tally a third straight rise Wednesday as traders monitored tensions in the Red Sea that have led to disruptions to global trade. Crude-Oil, Gasoline Stockpiles Rise as Refineries Ramp Up Runs U.S. crude-oil inventories rose last week by 2.9 million barrels, contrary to analysts' expectations for a fall, while gasoline stocks rose by a greater-than-expected 2.7 million barrels, government data showed.