Occidental Petroleum Corp. is in talks to buy shale driller CrownRock LP, according to the Wall Street Journal, as the consolidation wave in North America’s most prolific oil field gathers momentum.
Saudi Aramco is forecast to cut the price of its flagship oil grade to Asia for the first time since June as an influx of cheaper US and European barrels drives up competition in the world’s biggest importing region.
Oil edged higher after a string of losses as the market weighed the possibility of deeper output cuts from OPEC+ against signs global supply is running ahead of demand.
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