Oil stays below $60 as Opec, Russia keep pumping

2014-12-17 13:57

Brent crude has held below $60 a barrel as major oil producers signalled they would maintain output despite a supply glut and faltering demand.

Global oil demand to slow despite price rout

2014-12-15 17:27

Global appetite for oil will grow at a slower pace in 2015 than earlier thought despite plunging crude prices, says the IEA.

Oil hits lowest in more than 5 years

2014-12-12 11:57

Brent crude oil has slipped to its lowest since July 2009, dragged down by persistent concerns over a global supply glut and a sluggish demand outlook.

Oil companies should be a lot more profitable

2014-12-07 16:36

The 40% plunge in oil prices since July is almost certainly good news for the world economy; but it is surely a crippling blow for oil producers.

Kuwait urges non-Opec cooperation

2014-12-01 08:40

Kuwait has urged non-Opec crude producers to cooperate to help stabilise the oil market and prevent sharp fluctuations in prices, according to a news agency.

Opec move hits Gulf stocks hard

2014-11-30 14:50

Gulf Arab stocks haveplunged on their first trading day since Opec decided to maintain oil output in a move that sent crude prices crashing to five-year lows.

Saudi declares price war on US shale oil

2014-11-28 19:29

Opec members must combat the US shale oil boom, according to Saudi Arabia's Oil Minister Ali al-Naimi.

Oil market reveals its wild side again

2014-11-28 16:17

After Opec's decision to leave production unchanged, Brent crude futures experienced the first three standard deviation down-move since the May 2011 flash crash.

Russia's ruble extends record slide

2014-11-28 15:36

The ruble has lost another 1.5% of its value as it extended a record slide after the Opec oil cartel's decision to leave its output ceiling unchanged.

Australian energy firms hammered by Opec move

2014-11-28 09:45

Australian energy firms have been hit hard by the Opec oil cartel's decision against cutting production, with stocks tumbling across the board.

Low output cut expectations as Opec meets

2014-11-27 13:40

Gulf oil producers are expected to press the case for not yet cutting Opec output, despite calls from some members of the group to bolster sagging prices.

Opec won't cut output despite oil price dip

2014-11-27 11:04

Opec Gulf oil producers will not propose an output cut, reducing the likelihood of joint action to prop up prices that have sunk by a third since June.

Oil market oversupply likely to go up

2014-11-26 15:33

A global glut of oil will rise further next year, Iran's oil minister says on the eve of Opec's meeting to decide on whether to cut its output.

Saudi sees oil market stabilising itself'

2014-11-26 11:40

Opec leader Saudi Arabia has signalled it was unlikely to push for a major change in oil output at the producer group's meeting.

Price of crude oil not good - minister

2014-11-25 20:00

Venezuelan Foreign Minister Rafael Ramirez says that Opec members and non-member producers agreed that the price of crude oil "is not good".

Oil market firms with Opec on horizon

2014-11-25 15:27

Oil prices have ticked up as many dealers bet that the Opec cartel is unlikely to agree on any cuts at a key output meeting this week, analysts say.

Asian stocks mixed after China-fuelled rally

2014-11-25 15:19

Asian markets have been mixed after a Chinese rate cut had fuelled a rally in the previous session, while Tokyo played catch-up following a long holiday weekend.

Oil price fall challenges US shale boom

2014-11-23 17:18

The US shale boom, which has challenged the rules of the global petroleum market, could soon face its own day of reckoning due to the supply glut it helped unleash.

Oil price war: Russia has little to offer

2014-11-20 16:27

Russian wells will freeze if they stop pumping oil, and the country has no capacity to store the output it would otherwise export as oil prices slump globally.

Oil prices rebound slightly

2014-11-18 15:30

Oil prices have recovered slightly as the prospect of Opec cutting its output dimmed, say analysts.

Opec to keep production ceiling at summit

2014-11-17 10:15

Opec will keep its production ceiling steady at its "toughest ever" meeting this month, after global crude prices hit a four-year low.

Oil price rout not over, says IEA

2014-11-14 12:27

Oil prices are expected to keep sliding well into 2015, held down by weak demand and increased shale production, the International Energy Agency says.

Saudi's Naimi sees no oil price war

2014-11-12 19:30

Saudi Arabia wants stable oil markets and talk of an oil price war is a sign of misunderstanding and has no basis in reality, says Saudi Oil Minister Ali al-Naimi.

Oil prices fall further

2014-11-11 15:29

Crude prices have slipped further on dimming prospects of a production cut by the Opec oil cartel despite a global supply glut, analysts say.

Opec sees global energy demand soaring

2014-11-07 17:09

Opec says global energy demand will climb by 60% by 2040 compared to 2010 levels, with greenhouse-gas-emitting fossil fuels remaining the main source of power.


Russia sees no price floor for oil

2014-12-17 06:00

Russia says it will not cut oil output to help prop up prices despite its economy showing signs of severe stress and its currency collapsing.

Badri: Opec has no target price

2014-12-14 12:00

Opec's secretary-general says he believes Gulf countries should continue to invest in exploration despite oil hitting a five-year low.

Oil drops $2 to five-year low

2014-12-08 17:35

Brent crude oil has fallen more than $2 a barrel to a new five-year low on predictions that oversupply will keep building until next year.

Spotlight on ECB as inflation dips

2014-12-01 12:50

The ECB's monthly rate meeting will focus minds on the debate over quantitative easing in the eurozone as a series of data releases sheds light on European woes.

Dow, Nasdaq flat amid oil stocks rout

2014-11-30 21:48

Energy-related stocks have been hammered, leaving US stocks mostly flat in a holiday-shortened session.

Oil reels as Opec holds firm on output

2014-11-30 13:05

Global oil prices have plunged to new multi-year lows after the Opec oil-producing cartel decided to maintain crude output in an oversupplied market.

JSE slides as Sasol hit by oil price

2014-11-28 18:19

South African stocks have edged lower, with Sasol tumbling after oil hit a four-year low.

Tokyo investors eye Christmas sales

2014-11-28 15:55

Tokyo investors will be keeping an eye on US holiday retail sales and movements on Wall Street next week, analysts say.

Oil dips to 4-year low on Opec decision

2014-11-28 15:30

Global oil prices have plunged to yet another four-year low after the Opec oil producing cartel decided to maintain crude output in an oversupplied market.

Oil prices plunge as Opec holds output cut

2014-11-28 08:42

Brent crude oil has plunged as much as $6.50 a barrel, and US crude dropped by nearly as much, posting their steepest one-day falls since 2011.

Oil could hit $60 as supply cut hopes fade

2014-11-27 11:17

Brent crude has fallen to a 4-year low under $76.30 a barrel, with some analysts now seeing oil prices at $60/barrel if Opec does not agree to a significant output cut.

Libya rival govt wants seat at Opec summit

2014-11-26 16:01

Libya's rival government wants to send its oil minister to the Opec summit and will refuse to comply with any production decisions if it is denied access.

Saudi Arabia signals no push for oil cut

2014-11-26 14:10

Opec leader Saudi Arabia has signalled it is unlikely to push for a major change in oil output at the producer group's meeting this week.

Ministers to monitor markets at Vienna oil talks

2014-11-26 11:09

Oil producers Mexico, Venezuela, Russia and Saudi Arabia have agreed to constantly monitor international markets, citing a slide in oil prices.

Venezuela set for oil talks

2014-11-25 19:45

Venezuela will discuss oil-market coordination with Opec heavyweight Saudi Arabia and major oil producers from outside the group.

European shares hit nine-week high

2014-11-25 15:23

European stocks edges higher, with a key benchmark index hitting a nine-week high as eurozone banking shares gained on mounting expectation of more stimulus.

Oil price drop not catastrophic - minister

2014-11-24 20:03

UAE Oil Minister Suhail al-Mazrouei says the current slide in oil prices will not be catastrophic for his oil-rich country, thanks to economic diversification.

Opec divided on oil output ahead of meeting

2014-11-23 12:30

The Opec cartel will hold one of its toughest and most significant meetings in recent years as its members must contemplate whether to cut output.

Oil rebounds before US energy report

2014-11-19 15:40

Global oil prices have rebounded slightly as traders awaited key US stockpiles data and eyed next week's crucial Opec output meeting.

Putin's oil tsar flying to Vienna as Opec meets

2014-11-17 19:33

Rosneft says chief executive Igor Sechin will fly to Vienna for an energy summit, just two days before Opec meets in the city to debate the plunge in oil prices.

IEA sees downward pressure on oil prices

2014-11-14 13:50

The oil market has entered a new era with lower Chinese economic growth and booming US shale output, making a return soon to high prices unlikely, says the IEA.

World oil prices slide to multi-year lows

2014-11-13 20:05

Global crude futures have slumped to fresh low points on mounting expectations that the Opec oil producing cartel will maintain its production ceiling.

Global energy system under stress

2014-11-12 11:25

With fossil fuels set to meet most of the increased global demand for energy, the IEA warns that climate change targets are at risk and conflicts could still wreak havoc with supplies.

Kuwait sees no output cut at Opec meeting

2014-11-10 18:51

Opec is not likely to cut crude output when it meets later this month amid hopes that the market will absorb surplus supplies, the Kuwaiti oil minister says.

Opec sees global energy demand soaring

2014-11-06 16:20

Global energy demand will increase by 60% by 2040 compared to 2010 levels, says Opec.

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