Russia says to meet oil output cut deal by April

2017-02-16 13:57

Russia has said it will fully comply with an oil output cut agreement with other oil producing countries by the end of April.

Oil slips as US drilling gains counter Opec production cuts

2017-02-13 12:48

Oil fell in New York, snapping a three-day gain on signs that Opec’s production cuts will stimulate a recovery in US crude production.

Oil market 'responding positively' to output cut - OPEC

2017-02-08 18:40

Qatar's energy minister, the current OPEC president, says world oil markets are "responding positively" to output cuts implemented.

Nigeria struggles to boost oil output

2017-02-08 14:00

Nigeria’s progress in curbing militant attacks hasn’t much boosted its oil output. While that’s bad news for a country mired in its worst economic slump in 25 years.

Surge in electric cars may blindside big oil: report

2017-02-07 09:57

Oil companies underestimating the global market for electric vehicles could be caught unaware by weakened demand for petrol within a decade, analysts said.

Shell net profit more than doubles in 2016

2017-02-02 12:19

Royal Dutch Shell says profit after tax more than doubled in 2016, helped by a recovery for oil prices in the fourth quarter.

Oil set for monthly loss as Opec cuts seen spurring US supply

2017-01-31 12:25

Oil is set for its first monthly decline since October as signs that US supply is expanding offset OPEC’s production curbs.

Oil heads for 2nd weekly gain as Opec cuts output

2017-01-27 12:25

Oil headed for a second weekly increase as Opec and other producers maintained they would achieve their target of cutting production to reduce bloated global inventories.

Sasol back in takeover mode – even considering a move back into China

2017-01-23 16:55

Sasol is transforming rapidly, betting heavily on its chemicals division to reduce its dependency on the rand oil price. Alec Hogg chats with Sasol’s joint CEOs.

Oil producers say output cut on track

2017-01-22 17:25

Oil producers say that their landmark December deal to slash output by almost two million barrels per day is on track, as they meet to review progress.


Kuwait sees Opec leaning on non-members to cut more oil output

2017-02-13 14:58

Opec is urging oil suppliers outside the group to fulfill their commitments to cut output, and crude prices will rise once producers demonstrate better compliance with their agreement to clear a global glut.

Oil jumps as IEA sees record OPEC cuts compliance

2017-02-10 16:16

Oil has jumped as the International Energy Agency said OPEC had achieved record initial compliance of 90% with their cuts agreement.

Oil market 'responding positively' to output cut: OPEC president

2017-02-08 15:24

Qatar's energy minister, the current OPEC president, says that world oil markets are 'responding positively' to output cuts implemented by the cartel and some non-cartel producers.

Oil declines on speculation US supply gains will counter Opec

2017-02-08 08:11

Oil has fallen a third day after industry data showed US crude stockpiles surged, raising speculation rising supply from US shale producers is offsetting cuts by Opec.

Oil trades near $54 as Iran tension offset rising US drilling

2017-02-06 14:41

Oil has traded near $54 a barrel as increased tension between Iran and the US countered expectations of rising American production.

Shell sells part of North Sea assets for $3.8bn

2017-01-31 14:09

Anglo-Dutch energy giant Royal Dutch Shell has agreed to sell a chunk of its North Sea assets to oil explorer Chrysaor for up to $3.8bn.

Opec convinces investors that its oil output cuts are real

2017-01-30 11:49

The Organisation of Petroleum Exporting Countries appears to have persuaded investors that it’s making good on promised production cuts.

Oil rises near $53 as Iraq is close to full Opec cut pledge

2017-01-24 08:50

Oil has advanced to trade near $53 a barrel as Iraq said it’s close to implementing its share of pledged output curbs agreed with Opec to trim bloated global inventories.

Opec shrugs off threat US will cut oil imports

2017-01-23 09:52

The Organisation of Petroleum Exporting Countries' two biggest suppliers to the US shrugged off a vow by President Donald Trump to end dependence on the group’s oil

Russia cuts oil output

2017-01-22 12:38

Russia has cut its oil production by some 100 000 barrels a day, says Energy Minister Alexander Novak ahead of a key meeting in Vienna.

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