ENERGY NEWS-Russia tapping deeper into Arctic oil basin

Oil prices relatively flat after mixed report on supply and demand

April 13 (UPI) -- Crude oil prices got modest support early in the trading day Thursday on signs of a balancing market, though the devil may be in the details.

Russia tapping deeper into Arctic oil basin

April 13 (UPI) -- Russian oil company Gazprom Neft said it finished drilling a new production well at one of its flagship fields above the Arctic Circle.

More oil on the market than last year, a report finds

April 13 (UPI) -- Higher oil prices mean more production from the United States, leaving the global market with more oil than last year, the International Energy Agency said.

New solar power on tap for India

April 13 (UPI) -- A contract for a new solar project in India could help the country reach its goals for renewable power capacity, French energy company ENGIE said.

Canada's economy still facing headwinds

April 13 (UPI) -- Uncertainty on U.S. trade policy and a mixed record for labor means Canada's economy is still under pressure despite higher oil prices, the central bank said.

Gas at $3 per gallon could hurt U.S. economy

April 13 (UPI) -- The U.S. national average price for a gallon of gasoline would need to move close to $3 before it starts having a negative economic impact, an analyst said.

U.S. offshore oil production on the rise

April 13 (UPI) -- With two oil fields in the Gulf of Mexico starting production this year, and five on tap for 2018, offshore production is set to increase, a U.S. report found.

No end in sight for rally on crude oil prices

April 12 (UPI) -- There was no quarter for the sustained rally in crude oil prices early Wednesday as OPEC chatter adds to the support emerging from geop