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Oil prices inch up cautiously in data waiting game

Crude oil prices fought off competing production narratives in early Wednesday trading to inch higher, but U.S. supply data could set the tone later in the day.

Total teams up with Brazil's Petrobras

March 1 (UPI) -- French energy company Total announced alongside its Brazilian counterpart, Petrobras, both sides were teaming up in a $2.25 billion joint venture agreement.

Italian energy company Eni recovers after spending cuts

March 1 (UPI) -- Italian energy company Eni said it managed to turn a corner after trimming investments last year to turn in its first quarterly profit in more than a year.

Oil industry asks Trump about drilling offshore

March 1 (UPI) -- Despite general White House support for the oil and gas sector, a trade group said more than 90 percent of the reserves offshore remain off limits to producers.

After oil deal, Russia backs Libyan autonomy

March 1 (UPI) -- Weeks after wading into its oil sector, and on the eve of a state visit, a Kremlin spokesman said Libya should be free from foreign intervention.

Iran inks oil agreements with Austria

March 1 (UPI) -- An Iranian leader reached an agreement with his Austrian counterparts to cooperate on oil field development, Iranian state media reported.

New Norwegian Sea drilling expected

March 1 (UPI) -- Statoil was granted preliminary approval to start a new drilling campaign near an existing oil and gas field in the Norwegian Sea, the government said.