Opec head says oil cuts ' only viable option' to stabilise market

2017-11-13 11:46

The oil market is re-balancing at a quickening pace and production cuts are the “only viable option” to restore market stability, Opec Secretary General Mohammad Barkindo said.

Nigeria's former oil minister blasted over court bid

2017-11-01 21:12

A Nigerian judge has accused the country's former oil minister of trying to "avoid justice" in Britain, as he dismissed an application for her to face corruption charges back home.

OPEC has success at last, but oil revival may be short-lived

2017-09-20 12:00

When OPEC and its allies gather this week, they’ll have the best evidence yet that their efforts to clear a global oil glut are succeeding. It may prove short-lived.

Opec's oil fight morphs from skirmish to years-long campaign

2017-08-16 07:55

When Opec and Russia first embarked on their strategy to clear a global oil glut, it was expected to succeed within six months. It now looks like the battle could last for years.

Oil majors gushing in cash despite cheap crude

2017-08-06 14:57

The prospect of crude remaining near the current $50 level is no longer a doomsday scenario for the world's oil majors.

Bullish day out for the JSE, international markets

2017-07-13 13:10

Markets firmed significantly amidst a strong performance by global markets.

Opec has few escape routes from another bear market in oil

2017-06-23 10:30

Oil’s back in a bear market and investors remain unmoved by last month’s agreement to prolong supply cuts, leaving Opec and its allies with few remaining tools to boost prices.

Opec deal extension isn't enough to rope in crude-oil bulls

2017-06-05 11:48

The good news from Opec wasn’t good enough, hedge funds trimmed bets on rising crude prices to the lowest levels since November as oil futures dropped below $50 a barrel.

OPEC insiders reel as key minister fired during meeting

2017-05-28 19:00

As OPEC ministers gathered to agree a oil-supply pact, the man credited with bringing about the landmark deal learned from a news broadcast that he had been fired.

OPEC leaves market guessing on exit strategy after oil pact

2017-05-26 07:32

OPEC may be celebrating an historic deal to extend supply cuts, but after the party, the organisation will face a trio of questions it left unanswered.


Cars to drive oil demand growth - OPEC

2017-11-09 10:19

The outlook looks bright for oil-producing nations and automakers, OPEC said on Tuesday, as the cartel expects a surge in car ownership in the developing world to far outweigh the adoption of electric vehicles over the coming two decades.

Opec and Russia stay focused on cuts as oil market improves

2017-09-22 13:11

Opec and Russia have said they were about halfway toward clearing a global oil glut and urged fellow producers to stay focused and finish the job.

Nigeria seizes properties linked to ex-oil minister

2017-08-23 15:56

A Nigerian court has confiscated four large housing complexes worth $7m from a former oil minister accused of corruption on Tuesday as fraud investigators continue to claw back her fortune.

Opec boosts demand outlook for its oil as fuel use strengthens

2017-08-10 14:43

Opec has boosted estimates of demand for its crude this year and next amid stronger-than-expected fuel consumption and a weaker outlook for rival supply.

Oil rises over $50 as OPEC set to meet with allies on compliance

2017-07-31 07:22

Oil has risen above $50 for the first time since May after OPEC said the group and its partners will meet next week to discuss why some nations are falling behind on their pledge to cut production.

Goldman sees risk of oil below $40 without OPEC 'shock and awe'

2017-07-11 09:30

OPEC needs to 'shock and awe' the oil market for prices to gain, according to Goldman Sachs Group.

Saudis see oil market balance despite added Libyan barrels

2017-06-19 16:39

The oil market is expected to balance in the fourth quarter even as output from fellow Opec members Libya and Nigeria as well as from shale oil producers is on the rise.

Opec wins hedge funds back with jump in oil bets before deal

2017-05-29 07:36

Hedge funds are giving the Organisation of Petroleum Exporting Countries some credit again.

Opec's failure to spell out its strategy will hurt

2017-05-26 13:55

Opec ministers have failed in their attempt to convince the market that they have a plan when they agreed to extend output cuts for another nine months.

Opec seen extending oil curbs to ease glut

2017-05-19 07:48

Opec will extend an accord that trims production, even as surging US output threatens the group’s goal of draining excess supply, according to a Bloomberg survey.

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