Oil moves sharply lower on supply data

Daniel J. GraeberNEW YORK, Feb. 19 (UPI) — Oil prices made a sharp reversal in Friday trading as market fundamentals moved to overshadow short-term reactions to production freezes earlier this week.

California methane leak stopped

Daniel J. GraeberLOS ANGELES, Feb. 19 (UPI) — Investigators in southern California said they’re focusing their efforts on the causes behind a methane leak now that a faulty well is sealed.

Wood Group cuts North Sea contractor rates

Daniel J. GraeberABERDEEN, Scotland, Feb. 19 (UPI) — British energy services company Wood Group said Friday it was cutting rates paid to its North Sea contractors because of negative market pressures.

Payments continue for Kurdish oil exports

Daniel J. GraeberLONDON, Feb. 19 (UPI) — Though its government said it’s struggling financially, Gulf Keystone Petroleum said it was still getting paid for oil exported from the Kurdish north of Iraq.