OPEC export price falls below $40

2015-11-16 16:35

The average price of crude sold by OPEC has fallen below $40 a barrel for the first time since 09, underscoring the financial cost of defending its market share.

OPEC to consider new output ceiling

2015-11-11 15:32

The Organisation of Petroleum Exporting Countries is considering raising its official production target at its next meeting to take into account new member, Indonesia.

Oil prices rebound on bargain-hunting

2015-10-22 13:43

World oil prices have risen on bargain-hunting after a sharp decline the day before, although analysts said the market remains hobbled by an oversupply.

OPEC chief confident of a balanced oil market

2015-10-12 09:30

OPEC is confident that the oil market will be 'more balanced' next year as non-OPEC production has contracted and global demand is increasing.

OPEC chief sees oil market improving

2015-10-06 16:00

The Organisation of the Petroleum Exporting Countries sees the oil market improving because of higher demand for crude and a drop in supply growth from non-members.

Opec scales back 2016 oil forecast

2015-09-15 18:30

The Opec oil cartel has trimmed its forecast for global oil demand next year as emerging markets, which have been the motor of world growth in recent years, splutter.

Cheap oil taking longer to subdue rivals

2015-08-12 08:42

OPEC has raised its forecast of oil supplies from non-member countries in 2015, a sign that crude's price collapse is taking longer than expected.

Oil prices extend decline

2015-08-02 13:00

Oil prices have extended their decline with no sign of an end to a global supply glut.

Uruguay settles $400m Venezuela oil debt

2015-07-07 08:55

South American OPEC nation Venezuela will allow Uruguay to pay off a $400m energy debt at a 35% discount, Uruguay says.

OPEC unlikely to lose oil influence to US shale

2015-06-07 18:00

OPEC's announcement that it is keeping crude output levels unchanged again, despite a collapse in oil prices, reflects the growing influence of booming US shale


Oil inventory surplus biggest in 10 years: OPEC

2015-11-12 14:30

Surplus oil inventories are at the highest level in at least a decade because of a rise in global production, says the Organisation of Petroleum Exporting Countries.

IEA sees OPEC market-share growth in 2020

2015-11-10 16:34

The Organisation of Petroleum Exporting Countries' share of the global oil market will expand from 2020, according to the International Energy Agency.

Global oil demand growth to slow in 2016: IEA

2015-10-13 11:30

The world's demand for oil is expected to slow in 2016 in response to a more pessimistic outlook for the global economy, says the International Energy Agency.

US oil production on brink, say oil execs

2015-10-07 08:36

US oil production will start to decline soon unless oil prices rise, oil executives say, stating lower production could pave the way for a spike in the market.

Oil declines as focus swings to glut

2015-09-22 09:31

Oil has halted a surge above $46 as investors weighed Iran’s progress toward raising output amid a market glut against signs of reduced US supplies.

IEA sees oil supply outside OPEC falling

2015-09-11 12:56

Oil supplies outside OPEC will drop by the most in more than two decades as the price rout curbs US shale output, says to the International Energy Agency.

Oil industry frets about another lost decade - Kemp

2015-08-05 12:00

If oil prices remain around $50 for the rest of the year, 2015 will be the fifth time real prices have fallen more than 50% in the space of less than three years.

Iranian oil may cause more Opec tensions

2015-07-19 18:45

The return of oil from Iran could create fresh tensions within Opec, but may reinforce the cartel's output strategy, say analysts.

OPEC stays upbeat on 2015 oil demand

2015-06-10 16:30

OPEC has stuck to its forecast that oil demand will pick up this year but warned that over-supply may still keep a 'ceiling' on oil prices.

Algeria arrests importers in graft crackdown

2015-06-07 14:53

Algerian authorities have arrested 17 people, including importers and bank officials, as the country tightens control on imports and corruption.

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