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.

Oil prices slump on Saudi price cuts

2014-11-04 16:15

Oil prices have plunged, with brent hitting a four-year low after Saudi Arabia slashed its export prices for the US market to counter demand for shale fuels.

We should not panic, says Opec

2014-10-29 18:22

There is no need to panic at the recent collapse in oil prices, says Opec secretary general, low prices would curb competing supplies.

Gulf oil producers seen riding out price plunge

2014-10-26 13:03

Energy kingpin Saudi Arabia and other wealthy Gulf states are set to resist pressure to tighten the taps significantly to shore up oil prices, analysts say.

Oil market proves mightier than Opec

2014-10-15 15:45

There is nothing surprising about the fall in oil prices, except perhaps the timing, says John Kemp, Reuters' commodities and energy columnist.

Iran says it can live with lower oil prices

2014-10-14 19:00

Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi Arabia and other Gulf Opec members.

World oil demand to dip in 2015 - IEA

2014-10-14 14:09

The world will see much weaker oil demand growth in 2015 than forecast previously, the International Energy Agency has said.

Oil heads for 4-year low

2014-10-13 12:08

Brent crude oil has fallen to its lowest in almost four years, after producers had signalled they would keep output high even if that meant lower prices.

Oil market strikes new low

2014-10-03 19:37

Global oil prices have dived to a fresh low point on plentiful supplies, and as the dollar rallied against the euro following strong US payrolls data, analysts say.

Oil prices steady at end of volatile week

2014-09-19 15:45

World oil prices have steadied after Brent crude had this week hit a two-year low point against a backdrop of solid supplies and dampening demand growth.

Opec's Badri expects to lower output target

2014-09-16 19:51

Opec's secretary general says he expected the group to lower its oil output target, which would be its first formal output cut since the 2008 financial crisis.

No need for urgent Opec meet - Kuwait

2014-09-11 16:30

Opec member Kuwait says there was no need to call an emergency meeting for the producers' cartel to discuss sliding oil prices after crude hit a 17-month low.

Venezuela mulls importing Algerian crude

2014-08-27 19:50

Venezuela's state-run oil company PDVSA is considering importing Algerian light crude to be used as a diluent for its own extra heavy oil, according to documents.

Rockets fly into affluent Tripoli district

2014-08-19 19:53

Libyan militias have fired rockets into an affluent district of Tripoli, moving a battle with a rival faction closer to the capital after fighters on one side came under air attack.

Opec trims 2014 oil demand growth forecast

2014-08-08 17:30

The Opec oil cartel has cut its 2014 forecast for global oil demand growth after weaker-than-expected economic growth in rich countries.

Shell 'failing' to clean oil pollution in Nigeria

2014-08-04 08:04

Little action has been taken to clean up pollution caused by oil production in Nigeria's Niger Delta region, either by the government or Shell, Amnesty International and other groups have charged.

US oil boom to extend into 2015

2014-07-11 17:00

Global oil demand growth will accelerate next year as the world economy expands and will again be met by rising supplies from the United States.

Oil market mixed on China, Iraq developments

2014-07-01 16:28

World oil prices have diverged as traders tracked Chinese manufacturing data and violence in Iraq.


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.

Oil prices rally: Opec plays down slide

2014-10-29 18:42

World oil prices have rallied, while Opec secretary general insists that recent sharp falls for crude futures were not justified in terms of demand and supply.

Oil prices fall on high supplies

2014-10-27 14:35

Oil prices have fallen as markets foresee the world's biggest producers maintaining supplies despite a supply glut, say analysts.

Petrol price breather on the cards

2014-10-16 11:24

Motorists can expect to pay less for petrol in November, as declines in global petroleum prices have outweighed a spike in the exchange rate, says the AA.

Oil price: Saudis fights ghosts of 1980s

2014-10-14 19:03

Saudi Arabia is determined not to make the same mistake as in the 1980s when it tried to prevent a steep drop in oil prices by drastically cutting production.

SA could declare minerals as strategic

2014-10-14 17:55

Mineral Resources Minister Ngoako Ramatlhodi says the mineral bill paves the way to declare certain minerals such as coal and iron ore as strategic for the country.

Get used to lower oil prices - Saudis

2014-10-13 16:18

Saudi Arabia is quietly telling the oil market it will be comfortable with much lower oil prices for an extended period, a sharp shift in policy.

Opec keeps oil demand growth unchanged

2014-10-10 14:23

Opec is keeping its world oil demand growth projections unchanged for 2014 and 2015, as global economy forecasts remained stable going into next year.

Global solar flight to start, end in Abu Dhabi

2014-09-25 14:38

A government-backed renewable energy company in the UAE says a Swiss-made solar-powered aircraft will aim to begin and end its first round-the-world solar flight from the capital of Abu Dhabi.

Oil prices dip on Opec uncertainty

2014-09-18 13:49

Crude oil prices have eased as financial markets focused on Scotland's independent vote, while reacting to US data and uncertainty over Opec's outlook.

Falling oil price tilts balance in US favour

2014-09-12 18:55

The drop in oil prices underlies how the shale oil revolution is creating a political and economic advantage for Washington and its Western allies.

Oil hits two-year low as supplies build

2014-09-11 16:20

Brent crude has dropped to a two-year low below $97 a barrel, falling for a sixth straight session as mounting supply and weak demand outweigh speculation.

Qatar rejects claims it backs Islamic State

2014-08-24 12:01

The Gulf nation of Qatar is hitting back at suggestions that it supports the Islamic State extremist group, saying that "determined, collective action" is needed to end sectarian violence gripping Iraq and Syria.

Oil prices slide in poor start to week

2014-08-18 14:00

World oil prices have fallen sharply, handing back pre-weekend gains on easing supply worries in both Ukraine and Iraq, dealers say.

Oil prices rise before US data

2014-08-06 15:30

Oil prices have recovered from six-month low points on bargain-hunting as traders await the latest insight into energy demand in the United States.

Libyan militia tighten control of Tripoli airport

2014-07-16 06:03

Libyan militia fighters with anti aircraft guns and mortars have fanned out across Tripoli's airport, transformed into a battlefield by two days of fighting that has cut the Libyan capital off from the outside world.

World oil demand to grow further - Opec

2014-07-10 19:00

Global world oil demand is due to increase further next year thanks in part to resurgent growth in developed countries, Opec says in its first forecast for 2015.

No shortage of oil - Opec

2014-06-24 15:45

Opec is ready to pump extra oil in the event of any supply disruptions caused by Iraq and its biggest producer, Saudi Arabia, says oil officials.

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