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Benchmarks post early gains: Oil prices rise further after ending the previous session higher:

Oil prices rose in early Asia trade, adding to gains in the previous session, after Russia signalled it was willing to meet with other big oil producers to discuss the market following the decline in prices in the last quarter.But gains were limited with investors awaiting US government data on crude…

Oil bulls lose faith in recovery as Russia adds to global glut:

Hedge funds trimmed bullish oil bets for the first time in six weeks, losing faith in a swift recovery as Russia boosted output to the highest since the Soviet Union collapsed.

Speculators reduced their net-long position in West Texas Intermediate crude by 9.1 percent in the week ended Sept. 29,…

Oil and gas firms struggling to work together to maximise North Sea recovery:

Oil and gas firms are struggling to work together better in order to maximise recovery in the North Sea, a new report has found.

Deloitte’s survey of oil and gas operators and oilfield services companies revealed that a lack of effective supply chain collaboration means companies are missing out on…

North Sea will benefit from low oil price, says Serica boss:

$45 oil has been good to the Serica Energy chairman.

It saw him buy an 18% stake in Erskine from BP, helped him re-engage BG at the negotiating table and afforded him exploration opportunities previously ring-fenced for the big boys, according to the company leader.

Tony Craven Walker, whose company posted…

Oil set to cap weakest quarter since 2009 as glut seen expanding:

Oil is set for the lowest quarterly average price since the start of 2009 amid signs a glut of supplies is expanding in the world’s biggest consumer and OPEC producers are boosting output.

Futures lost as much as 1.2 percent New York after adding 1.8 percent Tuesday. U.S. inventories rose…

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