For the first time since July, oil futures are down below $100 per barrel.
Articles Tagged "NYSE:RDS.B"
Royal Dutch Shell plc (NYSE:RDS.A) announced an update on its offshore Alaska oil and gas drilling program, commenting that it has a variety of oil spill response equipment in position. However, the containment dome on one of its barges was damaged during testing and now needs to be repaired; as a result the company has decided not to drill into hydrocarbon zones this year.
International Energy Agency last week indicated that “three digit oil prices risk damaging” the economic recovery, offering a message that OPEC should raise output; however, OPEC responded the same day by saying that global supplies are sufficient to meet demand.