Opec oil output rises as members stand firm

28 minutes ago

Opec's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers.

Oil climbs after collapsing close to 6-yr low

2015-01-30 16:15

World oil prices have edged higher, having dramatically slumped close to a six-year low the previous day on the back of record US crude stockpiles.

Chevron refinery to close for maintenance

2015-01-30 09:55

US energy firm Chevron will shut down its oil refinery in Cape Town from February 13 to March 31 for routine maintenance and safety inspections, the company says.

Oil company shares rocked by plunging oil prices

2015-01-29 15:08

Shares in energy companies have slided after they announced falling profits on tumbling oil prices, though European markets were mostly higher overall.

Oil up but gains capped on glut concerns

2015-01-29 07:36

Oil prices have edged higher but gains were capped amid fresh worries about the global supply glut as US crude reserves soared to a record high.

Alec Hogg: Top 3 essential insights from WEF 2015

2015-01-28 14:34

Alec Hogg shares the most pertinent insights that he has gained from his attendance at the World Economic Forum in Davos, Switzerland, this year.

Oil price drop could bring surprise U-turn for SA

2015-01-27 16:10

Drastic declines in the international oil price and sharp cuts in the local petrol price could herald a sharp turnaround in SA’s fortunes, says an expert.

Fuel price: Beware of inflation, greed, politics

2015-01-27 14:40

The crude oil price has broad implications and it is the market manipulation, events, anomalies and corresponding events that must be viewed, warns an expert.

Oil prices drop as Greek vote pushes up dollar

2015-01-26 17:30

Oil prices have fallen as the dollar rallied against the euro after the anti-austerity party Syriza swept to victory in Greece's general elections.

Workers in Europe's oil hub hope for the best

2015-01-26 09:30

Oil workers are putting a brave face on hundreds of job cuts linked to sinking crude prices while union leaders warn that the worst is yet to come.

Plunging prices threaten UK's 'cash cow' oil industry

2015-01-25 11:30

With oil prices tumbling, Britain's North Sea oilfields face a struggle for survival, threatening a vital source of income and energy.

PwC’s Dennis Nally: Fascinating insights, global trends from latest CEO survey

2015-01-23 15:31

Alec Hogg has had a fascinating one-on-one interview with PwC’s Global chief executive, Dennis Nally about the latest CEO Survey published by PwC.

Oil price drop may affect IS fight - Iraq

2015-01-22 20:00

Iraqi prime minister Haider al-Abadi says the drop in the global oil price is disastrous for his country's finances and could hurt its ability to fight Islamic State militants.

US oil services firms cut jobs as prices drop

2015-01-22 10:00

Big winners in the US shale-oil boom, energy services providers now are slashing jobs to preserve their profits and margins from the rapid dive in oil prices.

Petrol price could drop by R1 - expert

2015-01-21 21:57

The petrol price is falling so quickly that a further reduction of R1 may be on the cards, says an economist.

Oil prices have reached 'bottom' - Iraq minister

2015-01-21 16:30

Iraqi Oil Minister Adel Abdul Mahdi has predicted that world prices would not fall much further after a plunge of nearly 60% since June.

Oil prices have reached 'bottom' - Iraqi minister

2015-01-21 11:30

Oil prices are unlikely to fall further after a plunge since June, says the Iraqi Oil Minister Adel Abdul Mahdi.

Norway moves ice edge north, invites oil bids

2015-01-20 21:00

Norway has invited firms to drill for oil and gas further inside the Arctic Circle, putting the government at loggerheads with opposition parties.

Oil starts week in negative territory

2015-01-19 16:30

World oil prices have fallen, dented by high global crude inventories, in subdued deals amid a public holiday in the United States.

Cheaper oil to boost British economy

2015-01-19 09:30

British economic growth could be stronger than expected this year, boosted by lower oil prices and flat inflation that will encourage consumers to spend.

US inflation drops as petrol prices plummet

2015-01-18 18:30

US inflation has fallen to its lowest level in six years in December as the cost of petrol declined sharply, says the US Bureau of Labour Statistics.

Oil embargo an option for peace in Libya

2015-01-18 16:30

An oil embargo is one tactic the European Union could use to press for a solution to the crisis in Libya, according to the EU's diplomatic service.

Oil market rebounds on IEA report

2015-01-16 19:00

World oil prices have rebounded after the International Energy Agency declared there were signs "the tide will turn" following recent multi-year lows.

 

Opec oil output rises in January - Survey

2015-01-30 19:00

Opec's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers.

Cees Bruggemans: Tempering oil company concern

2015-01-30 14:59

Global oil company concerns that the Opec market share defence, resulting oil price collapse and culling of non-Opec supply marginals will lead to new future demand/supply imbalances.

Oil prices mixed in Asian trade

2015-01-30 07:26

Crude prices have been mixed in Asia, after US senate approval of a controversial bill to build an oil pipeline added to concerns over a supply glut.

David Shapiro: Resources, retail and oil worries in Africa

2015-01-29 15:22

Time now for us to get a more in-depth view of how the markets are trading and more analysis of this with our favourite market commentator, David Shapiro from Sasfin.

Angola economy to slow as oil prices collapse

2015-01-29 14:30

Angola's oil-dependent economy is set to slow this year as a global crude price slump takes its toll on Africa's second-biggest producer.

Oil slips before Fed meeting outcome

2015-01-28 14:40

Global oil prices weakened on Wednesday as dealers await the outcome of a Federal Reserve meeting and the release of a US supply report, analysts said.

Oil slips ahead of Fed meeting outcome

2015-01-28 07:36

Oil prices have fallen in Asia as dealers await the outcome of a US Federal Reserve meeting and a supply report expected to show a surge in crude stockpiles.

Oil prices hold near six-year lows

2015-01-27 15:30

Oil prices have steadied near six-year lows, with gains capped by lingering concern about a global supply glut, weak demand and Greece's political future.

Oil prices rebound in Asian trade

2015-01-27 07:31

Oil prices have edged up slightly but gains were capped owing to lingering concern about a global supply glut, weak demand and Greece's political future.

Libya oil production down - rival minister

2015-01-26 12:20

Oil output from Libya, where ports and oilfields have been shut due to fighting, has fallen to 363 000 barrels a day with exports at about 200 000.

Oil prices down in Asia

2015-01-26 07:46

Oil has fallen in Asia after the anti-austerity party Syriza swept to victory in Greece's general elections, dealing a further blow to the struggling euro.

Oil market upheaval looms over Saudi succession

2015-01-23 15:52

King Abdullah's death could not have come at a worse time for Saudi Arabia's vital oil sector as the absolute monarchy seeks to reassert its leadership.

Oil surges after Saudi King's death

2015-01-23 07:29

Oil prices have risen following the death of Saudi Arabia's King Abdullah, with investors watching to see if his successor will maintain production levels.

US drivers put oil market on road to recovery

2015-01-22 17:45

US gasoline demand is increasing as motorists opt for bigger vehicles and drive more, encouraged by the sharp drop in fuel prices.

Oil rebounds ahead of ECB, US supplies report

2015-01-22 07:48

Oil prices have lifted a bit from nearly six-year lows as investors took a breather on the eve of a highly anticipated European Central Bank decision on stimulus.

Oil export losses to reach $300bn in Middle East

2015-01-21 20:00

Losses from lower oil exports could sap up to $300bn from economies in the Middle East and Central Asia this year, the International Monetary Fund says.

Russia may see oil output fall

2015-01-21 14:00

Russia may see a natural decline in oil output by around 1 million barrels per day at most, but has no plans to cut production in coordination with Opec.

Oil prices rebound in Asian trade

2015-01-21 07:33

Oil has rebounded in Asia as traders bought the commodity at cheaper prices following a slide to near six-year lows, analysts have said.

Oil under pressure as IMF cuts growth forecast

2015-01-20 15:30

Oil has diverged, remaining under pressure as the International Monetary Fund slashed its world economic growth forecast and stoked demand fears.

Oil prices down in Asian trade

2015-01-20 07:37

Oil prices have tumbled further in Asia with weak global demand and an oversupply dictating the trend for the commodity, analysts said.

Thoughts on the oil drop

2015-01-19 12:07

It will take time for the market to adjust to the new reality, says Jac Laubscher.

Oil prices edge lower in Asian trade

2015-01-19 07:47

Oil prices have edged lower in Asia as a rally late last week fizzled out owing to lingering concerns about weak demand and a global supply glut, analysts said.

Cameron: Low oil profit should mean higher wages

2015-01-18 17:00

Companies benefiting from lower oil prices should pass on gains to their employees by raising wages, says British Prime Minister David Cameron.

US inflation drops as petrol prices plummet

2015-01-16 20:00

Consumer prices have fallen in December in the US by a seasonally adjusted 0.4% as the falling oil price continued to send the cost of petrol plummeting.

Global oil price dip a gift to PM Cameron

2015-01-16 16:30

Cheaper oil prices have come as a political gift to UK Prime Minister ahead of national polls by lowering prices for everything from petrol to food.

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