Oil prices extend gains in Asia

2014-12-22 07:44

Oil prices in Asia have extended a sharp rebound, with analysts predicting the sector has bottomed out after plunging almost 50% since June.

Hope for oil price revival by second half of 2015

2014-12-22 05:00

Opec secretary general Abdullah al-Badri says he hopes to see a recovery in the price of oil by the end of the second half of 2015.

Canada slaps sanctions on Russian oil

2014-12-21 11:56

Canada has announced new sanctions against Russia, including additional restrictions on the export of technology used in the oil and gas industry.

Oil dive means rough ride for Gulf states

2014-12-19 09:14

Gulf countries are bracing for tough times as oil revenues fall and after they missed a golden chance to diversify in a decade of unprecedented windfalls.

European stock markets, oil rally

2014-12-18 14:40

Europe's main stock markets have surged following rallies in Tokyo and on Wall Street as dealers welcomed the outcome of the US Federal Reserve policy meeting.

Brent oil rises above $62

2014-12-18 12:36

Brent crude has jumped 2% to above $62 a barrel, as some traders bet a six-month price rout could be ending as more energy firms cut investment budgets.

Oil falls below $59, but production continues

2014-12-17 16:09

Brent crude oil has fallen below $59 a barrel, near 5-1/2-year lows, as major oil producers signalled that they will maintain output despite a supply glut.

Plunging oil 'to spark more global tensions'

2014-12-17 10:31

The oil market faces an uncertain outlook as tumbling prices from global oversupply stoke geopolitical tensions in key producers of crude, say analysts.

Gulf can cope with cheaper oil - IMF

2014-12-17 07:00

The Arab energy exporting states of the Gulf can cope comfortably with sliding oil prices, says an International Monetary Fund official.

Rouble collapses as oil prices decline

2014-12-16 15:53

Russia's central bank has raised its key interest rate in an emergency move to halt a collapse in the rouble as oil prices decline.

Brent oil tumbles under $60

2014-12-16 11:40

Brent oil has slumped to a new five-year low below $60 per barrel, as shrinking Chinese manufacturing activity stoked global demand concerns.

Brent rises above $62.50 after volatile trade

2014-12-15 09:28

Oil markets have seen volatile trading as Brent prices first fell to a five-and-a-half year low and then rose on hopes of improving manufacturing data.

Oil hits lowest in more than 5 years

2014-12-12 11:57

Brent crude oil has slipped to its lowest since July 2009, dragged down by persistent concerns over a global supply glut and a sluggish demand outlook.

Oil price slump carving a divide

2014-12-12 09:15

Oil's slide to the lowest price is carving a divide between US shale drillers who heavily hedged future production and those who didn't.

What makes the world go round?

2014-12-11 06:45

There is more to the world than paying less for petrol at the pump, says Leopold Scholtz.

BP to spend $1 bln on restructuring

2014-12-10 11:17

Oil major BP will spend $1bn on group-wide restructuring in the coming year as it laid out its long-term plans for its upstream oil and gas business.

Oil producers face 'huge liabilities'

2014-12-09 10:30

Saudi Arabia's top climate negotiator says that growing pressure to phase out fossil fuels does not help the UN climate negotiations.

Oil prices tumble 4% to fresh five-year lows

2014-12-09 07:41

Global oil prices have tumbled more than 4% to fresh five-year lows on mounting oversupply worries as global economic growth slows.

Oil companies should be a lot more profitable

2014-12-07 16:36

The 40% plunge in oil prices since July is almost certainly good news for the world economy; but it is surely a crippling blow for oil producers.

Total opens oil project off Angola

2014-12-05 12:30

Total has inaugurated a major project off Angola as the company touts its African investments in the face of falling prices.

Oil tumbles lower on Saudi price cut reports

2014-12-05 07:23

Oil prices have fallen in London and New York helped by reports that Saudi Arabia has trimmed its export prices and is doing nothing to tighten supplies.

Focus on Petrobras as graft expands

2014-12-04 11:41

Brazil's comptroller general has opened cases against eight engineering firms suspected of bribery and fraud in deals with Petrobras.

Oil prices recover slightly; rouble hits lows

2014-12-03 15:09

Oil prices have rebounded slightly after another slump, while the Russian ruble hit all-time lows against the dollar and euro.

Oil prices tumble after Iraq deal

2014-12-03 07:32

Oil prices have dived after Iraq and autonomous Kurds struck a deal that will boost the country's crude oil exports to an already oversupplied global market.

Oil price fall good news for world economy: IMF

2014-12-02 10:29

The plunge in oil prices may hurt some crude exporters but is overall a good thing for the world economy, International Monetary Fund Managing Director says.


Why oil could drop as low as $20 per barrel

2014-12-22 07:00

How low can the oil price go and how long will it last? The history of inflation-adjusted oil prices offers some intriguing hints.

Iran, Syria relationship tested by oil price drop

2014-12-21 12:29

Syrian businessmen and trade officials say they are worried the economic lifeline provided by Iran is under strain from plunging oil prices.

Brent crude steady below $60 a barrel

2014-12-19 11:25

Brent crude has held below $60 a barrel, near a five-and-a-half year low as a global oversupply of oil showed little sign of receding.

Oil dives in volatile trade

2014-12-19 07:33

Oil prices have skidded sharply in volatile trade, pushing the US benchmark futures contract to a new five-year low amid concerns about ample global supplies.

Impossible to reduce output - Saudis

2014-12-18 12:46

Saudi Arabia, the largest producer in the Opec oil cartel, cannot reduce its output despite plunging prices, a report says.

Oil up on stabilising rouble, US supply drop

2014-12-18 07:45

World oil prices have rallied somewhat after the rouble stabilised and the US reported lower crude inventories.

Oil stays below $60 as Opec, Russia keep pumping

2014-12-17 13:57

Brent crude has held below $60 a barrel as major oil producers signalled they would maintain output despite a supply glut and faltering demand.

Oil prices sink further in Asian trade

2014-12-17 07:46

Oil has suffered fresh losses in Asia, sinking to new multi-year lows as dealers watch Russia's rouble crisis and await the latest US crude supply report.

Russia sees no price floor for oil

2014-12-17 06:00

Russia says it will not cut oil output to help prop up prices despite its economy showing signs of severe stress and its currency collapsing.

Oil prices now unsustainably low - expert

2014-12-16 15:33

Oil prices have now fallen to an unsustainably low level, says Reuters market analyst John Kemp.

China extends $2bn credit to Angola

2014-12-15 19:00

Angola's state oil company Sonangol is set to benefit from a new $2.0bn line of credit from the Chinese Development Bank to finance new projects.

Badri: Opec has no target price

2014-12-14 12:00

Opec's secretary-general says he believes Gulf countries should continue to invest in exploration despite oil hitting a five-year low.

IEA cuts 2015 oil demand outlook

2014-12-12 11:47

Global appetite for oil will grow at a slower pace in 2015 than earlier thought despite plunging crude prices, warns the International Energy Agency.

US oil dips below $60

2014-12-12 07:51

US oil prices tumbled below $60 a barrel for the first time since July 2009, taking the shocking loss since June to about 44%.

Oil crashes 5%, nears $60 on weak demand

2014-12-11 02:17

Oil prices have tumbled as much as 5%, pushing US crude to five-year lows near $60 a barrel after data showed a spike in US inventories.

Oil rallies on lower US output forecast

2014-12-10 07:32

Global oil prices have rallied modestly from five-year lows after a US agency trimmed its forecast for 2015 US output due to drilling-budget cutbacks.

Australian energy firms hit by falling oil prices

2014-12-09 09:33

Shares in Australian energy companies have been hammered by plunging oil and commodity prices, with BHP hitting a five-year low.

Oil down on lacklustre Chinese trade data

2014-12-08 07:24

Crude has hit fresh five-year lows following another weak batch of trade data out of China, while prices were also pressured by the strengthening dollar.

Oil price drop threatens investments

2014-12-05 14:56

The continued fall of oil prices may lead to the postponement of $150bn worth of projects in the sector worldwide, says a source.

Over $150bn in oil projects face the axe

2014-12-05 09:00

Global oil and gas exploration projects worth more than $150bn are likely to be put on hold next year as plunging oil prices render them uneconomic.

Oil to rebound next year after post-Opec sell-off

2014-12-04 16:15

Oil prices are expected to rebound in 2015 and 2016 as the market stabilises in the wake of a near-40% collapse this year.

Oil prices up on lower US supplies

2014-12-04 07:38

Oil prices have risen in Asia after a dip in US crude stockpiles raised optimism about energy demand in the world's top crude consumer during the winter season.

Oil price dip impacts Aus energy firms

2014-12-03 10:38

Australian energy firms are reassessing their investment plans and forecast as oil prices sit at multi-year lows.

Oil takes breather in Asian trade

2014-12-02 07:34

Crude prices have fallen in Asia but losses were curbed as dealers took a breather after days of sharp sell-offs following Opec's decision to hold output levels.

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