Oil set for weekly drop on US supply before Opec meet on cuts

2017-03-24 14:45

Oil has headed for a weekly loss as Opec and its allies prepared to meet for a review of their production cuts, while swelling US inventories indicated measures aren't working yet.

Brent oil extends drop as industry data shows rising US supply

2017-03-22 10:44

Brent oil has extended losses towards $50 a barrel as industry data showed US stockpiles expanded, raising speculation surging supplies are offsetting output cuts.

Oil declines as US drillers boost rigs

2017-03-20 09:41

Oil has declined as an increase in US drilling countered the prospect of OPEC extending an output-reduction deal.

Oil rebounds on US stockpile drop as Saudis lift output

2017-03-15 10:11

Oil has rebounded above $48 a barrel as a reported decline in US crude stockpiles countered a boost in output from Saudi Arabia.

Oil extends decline as US drilling accelerates amid Opec cuts

2017-03-13 10:32

Oil has extended its decline below $50 a barrel as US drillers continued to boost activity, countering Opec efforts to drain a global glut.

Oil extends slump as euro gains before ECB meet

2017-03-09 14:22

Crude’s selloff has deepened, with prices slumping a fourth day amid a broad commodities retreat that dragged down European stocks.

Investors start doubting oil rally

2017-03-06 08:40

The oil market’s failure to break out of the tightest range in more than a decade is sapping investor interest.

Sasol says $11bn US project on track for 2018 start

2017-02-27 19:45

Sasol says the first units at its Lake Charles chemical project will start operating in 2018, as the firm posts lower first-half profit because of currency losses and a strike.

Oil giant taps China's vast geothermal reserves

2017-02-26 14:00

Chinese state-run energy giant Sinopec has drilled hundreds of wells across the country. The almost mile deep holes are providing clean heat for local homes.

Oil rides best rally in 2 months

2017-02-22 10:05

Oil has extended gains in its longest rally since the end of December on increasing confidence that OPEC’s supply curbs will outweigh a gain in US crude stockpiles.


Oil falls amid record US stockpiles

2017-03-24 09:29

Oil has dropped as US crude supplies rose to an all-time high while investors await a meeting between OPEC and its allies.

Oil drops as US drilling growth threatens to counter OPEC cuts

2017-03-20 12:01

Oil has fallen as US drilling continued to rise, undermining the potential for even an extended OPEC output-reduction deal to rebalance the market.

Oil set for first weekly gain this month

2017-03-17 10:13

Oil has headed for the first weekly advance this month after US crude stockpiles eased from a record and as Saudi Arabia signalled an Opec-led deal to cut supply may be extended.

Oil holds losses as US crude stockpiles seen rising

2017-03-14 09:32

Oil has held losses below $49 a barrel before US government data forecast to show record crude inventories expanded further.

Opec's Houston huddle only deepens dilemma of extending cuts

2017-03-09 14:27

The Opec ministers have met with partners and rivals in Houston this week as they try to figure out whether to prolong production cuts, that decision only got harder.

Oil prices fall to 2017 low as US petroleum supply surges

2017-03-09 07:30

Oil prices have slumped to their lowest level of 2017 following a bearish US supply report that also dented American petroleum-linked shares.

Oil slips as US stockpiles set record

2017-03-02 15:19

Oil has slid for a third day as record US crude stockpiles were seen jeopardising OPEC’s efforts to drain a global surplus.

Stronger rand knocks Sasol's profit

2017-02-27 11:56

Sasol has announced that its operating profit is down 8% to R13.7bn, on the negative impact of a firmer exchange rate and strike action.

Oil slips from 19-month high

2017-02-24 15:18

Oil has retreated from the highest closing level since July 2015 as markets remained adequately supplied even as OPEC’s output cuts began to take effect in the US.

Russia overtakes Saudi Arabia as world's top crude producer

2017-02-20 17:39

Russia has overtaken Saudi Arabia as the world’s largest crude producer in December, according to new data released.

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