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Italian oil company Eni said it has made a new oil discovery in offshore Angola.
Wall Street wiped out gains for the year Thursday as concerns about a cocktail of factors weighed on global markets.
Learn the lineage of the Bush family, which became one of the United States' iconic political dynasties
Qatar has announced it will quit the cartel effective January 1, adding additional bite to proceedings ahead of an OPEC meeting in Vienna on Thursday.
All major Chinese indexes are higher by 2.5% or more, while European stocks and US futures are seeing similar gains. Oil is also surging.
After becoming the world's largest oil producer this year, US influence in the energy market has continued to grow.
Trump suggested that the US military presence in the Middle East was tied to the region's oil.
Trump has never been totally on board with US military campaigns overseas, but his ideas to pay for them have only stirred up more trouble.
Oil markets continued to drop Friday as persistent concerns about a glut were exacerbated by weaker economic conditions.
Business Insider spoke with John Maisto, the former US ambassador to Venezuela, about how the country got where it is and where it might be going.