Oil market recovery will continue - Opec

2016-05-10 19:15

Opec president Mohammed bin Saleh al-Sada says the current oil market recovery would continue into the second quarter of the year as global demand increases.

Oil tumbles as traders bet on weak Doha meeting

2016-04-17 13:00

Oil prices have tumbled as traders bet that a key producers meeting in Doha this weekend will yield no effective measures to curb the global oversupply.

No guarantee of oil deal at Doha talks

2016-04-15 14:37

Major oil producers are meeting this weekend to try to negotiate an output freeze to drain crude oversupply and boost prices, but doubts remain on Iran's buy in.

Nigeria in push to freeze oil production levels

2016-03-09 17:00

OPEC member Nigeria is leading the push for a global agreement to freeze the level of oil production.

Oil bosses upbeat on market rebound

2016-02-14 17:23

Movers and shakers from the oil industry have expressed optimism over a sharp rebound in the beleaguered crude market later this year.

IEA takes oil market bulls to the slaughterhouse

2016-02-09 13:11

Oil prices may have rebounded off 12-year lows struck last month, but any hope for a broader recovery in the market would be misplaced, says the IEA.

Oil ends lower on supply glut concerns

2016-02-07 11:35

Oil prices have dropped, leaving the market lower for the week, as a prolonged supply glut weighed on sentiment.

Oil price to fall further on over-supply: IEA

2016-01-19 13:13

The oil price is set to fall further this year as supply vastly exceeds demand, with major oil exporter Iran's return to the market offsetting any production cuts.

Oil prices rebound after falling below $30

2016-01-13 09:34

Oil prices have rebounded in Asia, halting a plunge that saw crude fall below $30 a barrel for the first time in more than 12 years, but analysts have warned of further pressure.

Nigeria minister sees emergency OPEC meeting

2016-01-12 16:30

Nigerian oil minister Emmanuel Ibe Kachikwu expects an extraordinary meeting of the OPEC oil cartel in two months to address nosediving crude prices.


Reshuffle shows Saudi determination to change

2016-05-08 17:07

With a major government reshuffle, Saudi Arabia has shown a determination to move the kingdom's economy away from oil, experts say.

Oil producers meet amid Saudi-Iran row

2016-04-17 12:12

Oil producers have gathered in Qatar to negotiate an output freeze, but a lingering dispute between Saudi Arabia and Iran threatens to overshadow talks.

Oil steadies on Saudi comments

2016-04-04 17:52

World oil prices have steadied as Saudi Arabia cast doubt on whether a key producers meeting would reach an agreement to freeze output to address a global supply glut.

There’s a new world order to talk about at Davos of Energy

2016-02-19 14:16

The Saudis may go public, OPEC’s in disarray, the US is suddenly a global exporter, and shale drillers are seeking lifelines from investors as banks abandon them.

Oil prices soar on possible UAE output talks

2016-02-14 14:30

Oil prices have soared with US crude rebounding from a 2003 low, on reports that OPEC was willing to organise output cuts that could ease the global oversupply.

IEA raises estimate of surplus oil supply

2016-02-09 12:02

The global oil surplus will be bigger than previously estimated in the first half, increasing the risk of further price losses, as OPEC members bolster production.

Russia ready to meet Opec over low oil prices

2016-01-29 15:45

Russia's energy minister says Moscow is ready to take part in an Opec meeting aimed at establishing possible "co-ordination" over low oil prices.

Nigeria rules out cutting oil production

2016-01-13 15:12

Nigerian authorities said Wednesday the country will not cut oil production even as nosediving crude prices caused by a global supply glut ravage revenue.

Oil prices fall below $30 a barrel

2016-01-12 23:06

US crude prices have fallen below $30 a barrel for the first time in 12 years as OPEC member Nigeria called for an emergency meeting to address collapsing prices.

Nigeria minister sees emergency OPEC meeting in March

2016-01-12 14:16

Nigerian Oil Minister Emmanuel Ibe Kachikwu has said he expects an extraordinary meeting of the OPEC oil cartel in "early March" to address nosediving crude prices.

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