Apr 29, 2016 at 12:12 | Source: Reuters
Production may rise to around 10.5 million barrels per day (bpd) during summer, the sources said. Supply in April has held steady to slightly lower at about 10.15 million bpd, said three industry sources who monitor Saudi output.
Apr 18, 2016 at 13:44 | Source: CNBC
Equity and oil markets have been hit after talks between 16 global OPEC and non-OPEC producers in Qatar on Sunday failed to produce any deal to freeze production. There were hopes that a freeze would support oil prices, which have fallen dramatically since mid-2014 due a glut in supply and lagging demand.
Apr 18, 2016 at 09:50 | Source: PTI
Oil prices, which hit a 12-year low in January by dipping under USD 30 a barrel, had risen above USD 40 in recent days, buoyed by the bullish talks surrounding the Doha summit.
Apr 18, 2016 at 07:32 | Source: PTI
The hourslong meeting in Doha, the Qatari capital, resembled a failed OPEC meeting in December that saw crude oil prices tumble on the cartel's indecision.
Apr 17, 2016 at 18:10 | Source: PTI
Oil-producing countries met today in Qatar to discuss a possible freeze of production to counter low global prices, but Iran's last-minute decision to stay home could dilute the impact of any agreement.
Apr 17, 2016 at 16:44 | Source: Reuters
A meeting between OPEC and non-OPEC oil producers on an agreement to freeze output ran into last-minute trouble in Qatar on Sunday due to what looked like a new spike in tensions between Saudi Arabia and Iran, sources told Reuters.
Apr 17, 2016 at 16:03 | Source: PTI
Thousands of oil workers in Kuwait began an open-ended strike today to protest against a government proposal to cut their wages, the head of their union said. The strike, which could slash production if prolonged, comes as world oil producers gather in Qatar to negotiate an output freeze to boost prices.
Apr 15, 2016 at 12:21 | Source: CNBC
Oil prices have risen this week in anticipation of the meeting in Qatar on Sunday with Brent futures currently trading at USD 43.90 a barrel and US WTI at USD 41.57.
Apr 14, 2016 at 14:50 | Source: PTI
Ahead of the highly anticipated Doha talks, the 29-nation IEA said the oil market, which for months has been depressed by a vast oversupply, was expected to practically balance out in the second half of the year.
Apr 13, 2016 at 12:05 | Source: CNBC
Leading oil producers, including Saudi Arabia, will meet in Qatar on Sunday to discuss an output freeze to support oil prices.