Nigeria expects 22% jump in oil output

2016-10-17 15:15

Opec member Nigeria expects its oil production rate to jump by 22% by the year-end to 2.2 million barrels per day from current levels, its oil minister says.

Iran will sign landmark oil contract

2016-10-04 09:56

Iran, fresh from an OPEC meeting where it won significant concessions from regional rival Saudi Arabia, will accelerate the rejuvenation of its sanctions-ravaged energy industry.

Russia plays wait and see on oil freeze

2016-10-02 15:00

Russia is waiting to see the details of Opec's surprise agreement to cut oil output before deciding on any freeze to its own production.

OPEC may finally be willing to curb oil glut, but not yet

2016-09-26 14:45

After two years of pumping without limits, OPEC may finally be ready to do something to shrink the global glut. Just not quite yet.

Oil bears dominate market as doubt grows over output limits

2016-09-12 09:33

The longer the members of the Organisation of Petroleum Exporting Countries and other producers talk about a ceiling on crude output, the more doubts grow in the market.

Opec output rises to record ahead of talks with Russia

2016-09-04 12:00

Opec’s crude production has climbed to a record high as increased output from Gulf members make up for persisting losses in Nigeria and Libya.

OPEC signals oil market lull may persist

2016-08-10 14:53

Weakness in global oil markets, which has dragged prices to a three-month low, may persist as demand slows seasonally and fuel inventories remain abundant.

Oil bigwig sees crude at $60 as demand picks up

2016-07-13 11:16

Crude oil will rise to up to $60 a barrel until at least 2018 as demand increases and markets absorb an oversupply, says acting oil minister of Opec member Kuwait.

Oil glut to ease: OPEC

2016-06-13 13:20

OPEC says a supply glut in the world's oil market is likely to shrink further, leading to a more balanced market by the end of the year.

OPEC skips output limit, finds unity oil price optmism

2016-06-03 10:48

OPEC will stick to its policy of unfettered production after members rejected a proposal to adopt a new output ceiling, but there's optimism on global oil markets improving.


$60 oil 'not unthinkable' by year-end - Saudi

2016-10-10 12:16

Saudi Arabia says it is "not unthinkable" that the price of crude oil could be $60 a barrel by the end of the year, but warned against drastic production cuts.

Oil rises to three-month high as investors asses OPEC agreement

2016-10-03 14:21

Oil has climbed to the highest level in three months in New York as traders continued to assess last week’s change in OPEC policy.

OPEC deal fails to cheer Saudi stocks

2016-09-29 10:16

Saudi Arabian stocks have swung between gains and losses as investors weighed the prospect of the kingdom being sued for its alleged involvement in the September 11 attacks.

Deal or no deal, OPEC's freeze talks already succeeding

2016-09-14 11:15

Even as speculation builds over whether OPEC will clinch an output deal with Russia this month, their negotiations are already paying off.

Saudi, Russia pledge oil cooperation without agreeing freeze

2016-09-05 14:41

The world’s top two crude-oil producers have pledged to cooperate to stabilize global markets, while failing to announce any specific measures to bolster prices.

Oil heads for biggest monthly gain ahead of OPEC talks

2016-08-31 12:00

Oil is poised for the biggest monthly advance since April as the global surplus diminishes and OPEC’s planned talks fan speculation it could reach an accord on output.

OPEC plans informal talks, sees oil dip

2016-08-08 15:38

The Organisation of Petroleum Exporting Countries will hold informal talks at a conference in Algiers and considers the recent decline in oil prices temporary.

Nobody wants to wear crown that makes Opec richer

2016-06-17 11:17

For decades the US has held the undisputed rights to the crown that nobody wants: The world’s biggest oil importer.

What OPEC has in store for the oil industry

2016-06-10 06:30

With oil rigs all over the world shutting down, and some countries keen to capitalise on this situation, we take a look at the winners and losers.

OPEC to keep oil flowing as price recovers

2016-06-02 10:15

OPEC has been expected to keep the oil gushing as a modest recovery in the crude price eases pressure on a cartel riven by Iranian-Saudi rivalry to cut output.

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