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.

Iraq oil supplies not at risk- IEA

2014-06-13 16:40

A lightning advance across northern Iraq has rekindled concern on oil markets, but the IEA cautions that supplies from Iraq may not be at immediate risk.

Oil prices higher after Opec decision

2014-06-11 15:15

Oil futures have risen with Opec deciding to maintain its oil output target and as traders looked ahead to US energy inventory data.

Opec set to keep oil output ceiling

2014-06-11 11:35

Opec appears set to maintain its oil output ceiling after cartel kingpin Saudi Arabia has signalled no change.

Oil prices rise on eve of Opec meeting

2014-06-10 14:56

Oil prices have risen further on the eve of Opec's meeting to decide on crude output levels.

Medvedev - Pay for supplies

2014-05-15 18:23

All consumers of Russian gas, including Ukraine, should abide by the simple rule that supplies should be paid for, says Russian Prime Minister Dmitry Medvedev.

India to make $1.65bn oil payment to Iran

2014-04-23 18:45

India is set to pay Iran $1.65bn over the next three months under an interim nuclear deal that eases sanctions on Tehran, sources say.

US demand prompts higher Opec forecast

2014-03-12 14:18

The Opec oil cartel raised its world oil demand forecast for 2014 on the back of an increase in US consumption and a "gradual" global economic upswing.

Iran halts nuke activity after IAEA nod

2014-01-20 14:28

Iran has halted its most sensitive nuclear activity under a ground-breaking deal with world powers, a confidential UN atomic agency report shows.

Saudi satisfied with oil prices, stability

2013-12-09 19:50

Opec kingpin Saudi Arabia says it is satisfied with current oil prices, praising the stability in supply and demand in global markets.

US set to become top oil producer

2013-10-15 15:03

The United States will soon become the world's largest oil producer next year overtaking Russia, thanks to its shale oil boom, says an energy watchdog.

Venezuela debates special powers for Maduro

2013-10-09 11:44

Venezuelan President Nicolas Maduro has pressed lawmakers for special powers to fight corruption, in a move his rivals fear will lead to them being persecuted for political purposes.

Important gas finds in Algeria - minister

2013-09-09 20:30

Algeria's state-run energy giant Sonatrach has made very important natural gas discoveries this year, says Energy Minister Youcef Yousfi.

Saudi taps new oil areas

2013-07-02 19:43

Saudi Aramco plans to develop two less productive areas of major oilfields, industry sources say.

Opec keeps pumping as oil demand softens

2013-06-12 15:10

Opec continues to pump more oil despite sluggish economic growth dampening an increase in demand, the International Energy Agency says.

US shale poses challenge to Opec output

2013-06-03 09:45

Opec's halcyon days of high prices and high production may be drawing to a close as soaring US production opens a new era for world oil markets.

Opec in no mood for a fight

2013-05-30 15:43

Opec states are in no mood to fight over how much crude to produce and instead weighed the impact of rising US shale supplies and a looming turf war in Asia.

'Opec' for platinum just a pipe dream

2013-05-16 15:08

SA may be the Saudi Arabia of platinum on steroids but unlike crude, it cannot manipulate the price by turning its "taps" on and off at will.


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.

Opec facing dark clouds on supply horizon

2014-06-12 10:15

The Organisation of the Petroleum Exporting Countries faces a period of static oil prices as traders track supply-side uncertainties, analysts say.

Opec agrees to maintain oil output ceiling

2014-06-11 14:30

Opec has agreed to maintain its oil production ceiling at 30 million barrels per day, says Venezuelan Energy Minister Rafael Ramirez.

Opec set to keep oil output ceiling

2014-06-11 11:33

Opec appears set to maintain its oil output ceiling after cartel kingpin Saudi Arabia has signalled no change.

Opec's output ills mean its job is done

2014-06-09 10:09

It has been a long time since oil consuming countries have waited for an Organisation of the Petroleum Exporting Countries meeting in trepidation.

Venezuela turns cars into houses

2014-04-30 08:58

Venezuela says it would start crushing abandoned cars and bicycles to provide raw materials for housing construction and supplement drastically reduced amounts of local steel.

Crimea clouds oil market outlook - IEA

2014-04-11 11:49

The global oil market is returning to a rough balance but Russia's annexation of Crimea has clouded the outlook, the International Energy Agency says.

Opec sees stronger oil demand growth

2014-02-12 15:52

Opec says that world oil demand will rise slightly more than expected in 2014, becoming the second major forecaster this week to predict higher fuel use.

Opec nudges up oil demand forecasts

2014-01-16 15:21

Oil cartel Opec has slightly nudged up its world oil demand growth forecasts for 2013 and 2014, citing positive developments in Europe and North America.

Opec ticks up 2013 oil demand forecast

2013-11-12 18:15

The Opec oil cartel has increased its forecast for oil demand growth in 2013 on expectations of better-than-expected improvement in developed country economies.

Asian growth changing global energy landscape

2013-10-15 14:18

From oil to nuclear power, via gas, coal and renewables, Asia's economic growth is increasingly steering the forward path of the global energy industry.

Opec nudges up oil demand forecasts

2013-09-10 16:33

Opec has lifted its world oil demand forecasts for 2013 and 2014, citing improved economic sentiment in developed countries, including the US and Europe.

Why Syria matters to oil markets

2013-08-27 18:15

Oil prices have surged to a six-month high as Western powers readied a military strike against Syria, amid concerns over stability in the Middle East.

Chaotic Libya struggles with oil output

2013-06-12 21:48

Libya is struggling to keep its oil output stable - let alone increase it - as protests cut crude exports in the sector that supplies 95% of state revenue.

Opec keeps oil demand forecast steady

2013-06-11 19:21

Opec is keeping its world oil demand forecast for 2013 virtually unchanged, but tipped downward revisions given the deteriorating economic climate.

Opec set to hold oil output

2013-05-31 19:56

Opec ministers say they expect to keep oil output levels unchanged despite concern about demand in view of the weak economic outlook.

African Opec oil setbacks prop up prices

2013-05-30 13:52

Social unrest and investment hurdles are making African producers in Opec its weakest supply link, helping to prop up oil prices to the benefit of other states.

Iran unhappy with current oil prices

2013-05-13 10:34

Iran is not pleased with current oil prices, says its oil minister, hinting at a proposal for Opec to lower its output to compensate for a drop in crude prices.

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now! - shop online today

Pre-order your iPhone 6 at

Hurry and pre-order your own iPhone 6 now at SA’s favourite online store!

Bargain box – 60% off

Reduced prices, very limited stock. While stocks last. Hurry and shop now!

Mind blow low prices on electronics

Get either the Prestigio multiphone or Proline tablet 7” tablet for only R699. Offers valid while stocks last. Shop now!

30% off Barbie toys

Save 30% on all Barbie toys and accessories. Offer valid while stocks last. Shop now!

Baby extravanganza month at

Celebrate baby month with a wide range of awesome baby products. Offers valid while stocks last. Shop now.

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.