ENERGY NEWS-Economic clouds, OPEC jitters send oil prices lowe

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Economic clouds, OPEC jitters send oil prices lower

Sept. 21 (UPI) -- Concerns about global economy momentum and jitters ahead of an OPEC meeting in Vienna put an end Thursday to a strong rally in crude oil prices.

IEA: Subdued demand means relatively oversupplied oil market

Sept. 21 (UPI) -- Despite multilateral efforts to balance the oil market with managed production cuts, the situation in general still favors the supply side, the IEA said.

Chevron terminates Gulf of Mexico rig contract early

Sept. 21 (UPI) -- A subsidiary of Chevron terminated a contract for a rig working in deep U.S. waters in the Gulf of Mexico nearly a year early, Transocean announced.

Energy-rich Norway leaves key policy rate unchanged

Sept. 21 (UPI) -- For Norway, one of the main suppliers of oil and natural gas in the European economy, there's a need for expansionary monetary policies, its central bank said.

Colorado sees slight uptick from oil and gas sector

Sept. 21 (UPI) -- Tax revenue for the shale-rich state of Colorado is recovering and the economy is growing after a downturn in previous years, the state budget office said.

Kurdish vote hurts trade, U.S. says

Sept. 21 (UPI) -- Sending oil north through Turkey, trade relations for the Kurdish north of Iraq could be hurt through a vote for independence, the U.S. State Department said.

Texas oil and gas sector resilience 'extraordinary'

Sept. 21 (UPI) -- Even though the price of oil is low by historical stands, a state energy official in Texas said the oil and gas sector there has been extraordinarily resilient.