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.

IEA sees significant gains in US shale oil as price rise

2017-01-18 12:48

Oil-price gains will trigger a "significant" increase in US shale output as Organisation of Petroleum Exporting Countries and other producers rein in supply.

Oil climbs as Opec sees market balancing while dollar slides

2017-01-17 14:47

Brent oil has risen above $56 a barrel after Opec members including Saudi Arabia said output cuts are bringing the market into balance, while the dollar weakened.

Saudi oil output drops under Opec quota close to 2 year low

2017-01-12 15:33

Saudi Arabia has reduced oil production to less than 10 million barrels a day, below its targeted level, and will consider renewing its pledge to cut crude output in six months.

Govt's proposed fuel changes a ticking time-bomb - Naamsa

2017-01-12 07:27

Time is running out to avoid the oil currently refined in SA from becoming illegal, warns the National Association of Automobile Manufacturers of SA.

Oil: Getting rid of the glut

2017-01-10 07:46

The oil price will rise, the market will tighten and companies and countries will recover economic losses – if the oil market cuts the glut.

Oil halts gain near $54 as rising US drilling damps Saudi cuts

2017-01-09 09:48

Oil has halted its advance below $54 a barrel as an increase in US drilling countered signs Opec members are sticking to planned output cuts to stabilize the market.

Oil starts new year higher as Kuwait delivers on Opec output cut

2017-01-03 07:58

Oil has advanced after the biggest annual gain since 2009 as output cuts by Kuwait signalled Opec and other producing nations started trimming production to stabilise the market.


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.

Oil resumes advance as report shows US crude stockpiles drop

2017-01-19 11:27

Oil has resumed gains after the biggest drop in more than a week as industry data showed US crude stockpiles declined, while Opec trim production to ease a global glut.

Oil's surprise strength is spending Opec goal - Saudi minister

2017-01-18 09:37

The surprising strength of the oil market is the main reason why Opec could end output cuts by the middle of the year, says Saudi Arabia’s energy minister.

Saudi minister optimistic about oil market stabilisation

2017-01-12 18:46

Saudi Energy Minister Khaled al-Falih is optimistic about a stabilisation of the oil market following an Opec deal to cut output.

Oil holds biggest gain in 6 weeks

2017-01-12 11:07

Oil has held gains after advancing the most in almost six weeks as US refiners processed a record amount of crude, while Opec and other producers trim output to stabilise the market.

Big oil hits sweet spot as projects reap rewards of recovery

2017-01-11 11:04

Big Oil is poised to reap rewards this year as investments made before the crude-price slump pay off just as the recovery starts.

Oil falls as Opec output curbs offset by growth in US drilling

2017-01-09 14:43

Oil has fallen for the first time in four days as an increase in US drilling activity fanned speculation Opec production cuts could revive output in North America.

US oil industry chief calls for more access to offshore

2017-01-05 16:01

The head of the US oil industry has called for expanded offshore oil and gas production, delivering a call for deregulation two weeks before the inauguration of President-elect Donald Trump.

Oil set first annual gain ahead of Opec supply cuts

2016-12-30 10:41

Oil has headed for its first annual advance before supply cuts from Opec and other producing nations intended to stabilise the market and reduce swelling global inventories.

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