Oil prices rally after plumbing new depths

2016-02-12 07:42

Oil has surged more than 5%, a day after tanking towards 13-year lows and following a suggestion that OPEC could possible cut output to stabilise volatile crude markets.

Maersk profit plunges as oil, container divisions lag

2016-02-10 09:34

P Moeller-Maersk has reported an 84% plunge in 2015 profit after its oil unit was hit by lower energy prices and its container division suffering.

Oil price gains capped by IEA gloom

2016-02-09 15:29

Oil has rebounded slightly from the previous day's sharp selloff, but gains were capped by a gloomy market assessment from the IEA energy watchdog.

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.

Oil prices slide as output cut hopes fade

2016-02-08 15:21

Oil prices have sunk, matching a fierce selloff on stock markets, as hopes of a cut to crude output faded.

National Oil warns about ‘illicit’ sales

2016-02-07 18:08

National Oil Corp in western Libya has warned traders against loading “illicit” cargoes of oil at Hariga port in the eastern part of the country.

Oil up as weak dollar offsets supply concerns

2016-02-05 07:49

Crude prices have risen as a weaker US dollar offset concerns over a global supply glut and diminishing hopes of a near-term deal by major petroleum producers to cut output.

Oil prices extend rebound in Asia

2016-02-04 07:30

Oil prices have extended their rebound in Asia, buoyed by a weaker dollar, bargain buying and fresh speculation of a possible output cut by the OPEC producers' group.

Oil holds firm before US inventories

2016-02-03 14:28

World oil prices have risen slightly, after briefly slipping under $30 a barrel, as traders awaited the weekly update on energy inventories in the United States.

IMF ready to lend to African oil producers

2016-02-03 09:58

The International Monetary Fund stands ready to help sub-Saharan Africa's oil exporters cope with plunging crude prices and growing fiscal pressures.


Oil extends loss to trade near 12-year low

2016-02-11 12:23

Oil has extended losses to trade near a 12-year low as crude stockpiles at the delivery point for New York futures expanded to a record even as nationwide supplies slipped.

Oil slumps on IEA gloom

2016-02-10 07:21

Oil has resumed heavy falls, erasing earlier gains in highly volatile trade, after the International Energy Agency issued a gloomy market outlook.

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 prices stage mild recovery after sell-off

2016-02-09 07:08

Oil prices have rallied after a three-day sell-off that saw the US benchmark sink back below $30 a barrel, analysts warned the ongoing supply glut will keep a lid on oil.

Oil prices dip as supply fears offset Saudi-Venezuela talks

2016-02-08 07:39

Crude prices have edged down in Asia as worries about the ongoing supply glut offset news that Saudi Arabia and Venezuela held talks on stabilising the stressed market.

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 market rebounds slightly

2016-02-04 14:34

Oil prices have extended their rebound, buoyed by a weaker dollar, bargain buying and fresh speculation of a possible output cut by the OPEC producers' group.

Oil trades near $30 after biggest 2-day drop in 7 years

2016-02-03 16:52

Oil has traded near $30 a barrel after the biggest two-day drop in almost seven years as US industry data showed crude stockpiles increased, exacerbating a global surplus.

Oil industry plans to keep investors happy: borrow more money

2016-02-03 12:18

The world’s largest oil companies have a plan to weather the worst market in over a decade: borrow more money.

Plunge in oil price batters ExxonMobil earnings

2016-02-03 09:22

ExxonMobil has announced plans to slash its capital budget and suspend its share repurchase programme after the crash in oil prices cut deeply into its earnings.

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