Once Opec's oil-price dove, Saudi Arabia takes a harder line

2018-02-19 12:47

For decades, Saudi Arabia was the voice of moderation within Opec, pushing back against the urging of members like Venezuela and Iran for higher oil prices.

Saudi Arabia calls for oil producers to extend cooperation

2018-01-21 15:30

Top oil exporter Saudi Arabia called for extending cooperation between OPEC and non-OPEC producers beyond 2018, after a deal to cut output succeeded in shoring up prices.

Oil resurrection sets stage for another OPEC-stale clash in 2018

2017-12-29 07:53

Oil’s revival from the biggest crash persisted, with prices set for a second annual gain after weathering everything from hurricanes and Middle East conflict to the tussle between OPEC and US shale.

Expect big fuel price increase - economist

2017-11-27 14:48

Big fuel price increases are expected in December due to the rise in the price of global crude oil, and the further weakening of the exchange rate, warns an economist.

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.


OPEC's oil price nightmare is already coming true – Gadfly

2018-02-11 14:00

The US has become a serious contender as the world's largest oil producer.

Opec wins over hedge funds to make 2017 oil's most bullish year

2018-01-02 07:39

Oil bulls are charging into the new year with unprecedented vigor, and the credit goes to Opec.

Oil slips near $57 on Opec-cuts review, rising US rig count

2017-12-11 13:30

Oil has slipped to near $57 a barrel as US drilling expanded and Opec nations Kuwait and the United Arab Emirates signaled they can phase out production cuts if the market improves.

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.

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