Feb 13, 2016 at 12:12 | Source: Reuters
Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.
Feb 13, 2016 at 12:00 | Source: PTI
"The market will oblige all (producers) not to reduce but to stabilise their output levels," Mazrouei, whose country is a key OPEC producer, told satellite news channel Sky News Arabia.
Feb 12, 2016 at 08:35 | Source: Reuters
US crude prices bounced away from 12-year lows early on Friday after comments by an OPEC energy minister sparked hopes of a coordinated production cut, yet analysts said such a move remained unlikely and that oversupply would persist.
Feb 12, 2016 at 08:33 | Source: CNBC-TV18
global sell-off, falling oil prices, and news about possible cut in production by OPEC.JP Morgans economist James Glassman is also surprised at the sell off seen in global markets because according him there is nothing in the US economic data that one needs to worry about.
Feb 11, 2016 at 17:11 | Source: CNBC
In a sign that producers are still competing for market share by lowering prices, Iran offered its crude to Asia at a discount to rival OPEC producer Saudi Arabia.
Feb 09, 2016 at 19:22 | Source: PTI
US benchmark West Texas Intermediate for March delivery added 46 cents to USD 30.15 a barrel compared with Monday's close.
Feb 06, 2016 at 14:19 | Source: Reuters
A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia's Lukoil.
Feb 02, 2016 at 15:55 | Source: PTI
BP suffered a loss after taxation of USD 6.48 billion (5.97 billion euros) last year, compared with a net profit of USD 3.78 billion in 2014, it said in a results statement.
Feb 02, 2016 at 09:21 | Source: CNBC
West Texas Intermediate crude tumbled around 5 percent in late morning trade to under USD 32 per barrel, as hopes for a deal among OPEC countries and Russia to reduce output dwindled.
Feb 02, 2016 at 08:57 | Source: Reuters
The front month contract for West Texas Intermediate (WTI) was down 49 cents at USD 31.13 as after falling USD 2.00, or 5.9 percent, in the previous session.