Oct 20, 2014 at 10:43 | Source: Reuters
"Oil markets are following the positive sentiment from equity markets," said Ric Spooner, chief analyst at CMC Markets in Sydney.
Oct 16, 2014 at 10:59 | Source: Reuters
Brent has lost more than 28 percent since June amid slow demand and abundant supply, with losses accelerating in recent weeks on signals that the Organization of the Petroleum Exporting Countries will not slash output to rescue prices.
Oct 15, 2014 at 12:40 | Source: Reuters
Comments from core OPEC members, including Saudi Arabia, Kuwait and Iran, signalling the group was unlikely to cut output to support the market have further depressed prices.
Oct 14, 2014 at 15:10 | Source: Reuters
The oil glut of the 1980s, the early days of the modern crude market and a distant memory for most traders, has resurfaced recently in conversations with Saudi officials and veteran analysts who see it as the defining moment behind the kingdom's new strategy to protect medium-term market share.
Oct 14, 2014 at 15:04 | Source: Reuters
The global oil benchmark has declined more than 20 percent from the 2014 high in June as supplies rose and demand slowed in the United States, Europe and China.
Oct 13, 2014 at 17:37 | Source: Reuters
Chinese trade data eased fears of slowdown in the world's second-largest economy, showing exports grew 15.4 percent year-on-year in September and exports rose 6 percent in value, both ahead of market expectations. But broader concerns about global growth remained.
Oct 13, 2014 at 15:39 | Source: Reuters
Saudi Arabia has privately told oil market participants it can accept oil prices between USD 80 and USD 90 a barrel, sources briefed by OPEC's biggest producer have told Reuters.
Oct 11, 2014 at 12:29 | Source: CNBC
Official forecasts expect heating degree days in the US to be 12 percent lower than last winter, implying lower demand, the Organization of Petroleum Exporting Countries (OPEC) said in its monthly oil market report as Brent traded close to a four-year low.
Sep 17, 2014 at 14:32 | Source: Reuters
Many OPEC countries need oil prices above USD 100 a barrel in order to meet their budget needs and analysts say Saudi Arabia, OPEC's biggest producer, could cut production in an effort to support prices. Any production cut by OPEC, due to meet in November, would be the group's first since 2008.
Sep 12, 2014 at 12:07 | Source: CNBC-TV18
Vandana Hari of Platts says the fundamental demand-supply story supply glut and low demand points to downward pressure on prices. She does not see oil prices racing back to USD 100 anytime soon.