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OPEC

A man walks in front of the Novokuibyshevsk refinery near the city of Samara, October 28, 2010. REUTERS/Nikolay Korchekov/File Photo

Oil jumps after Saudis, Russia say supply cut to be extended to March 2018

15/05/2017(0)
Oil prices jumped over 1.5 percent on Monday after the energy ministers of the world’s two biggest producers Saudi Arabia and Russia jointly said that a crude production cut ... Read More
A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County Texas

Oil futures rose in Asian trading on Wednesday

10/05/2017(0)
Oil futures rose in Asian trading on Wednesday after Reuters reported Saudi Arabia would cut supplies to the region as OPEC battles against rising U.S. output that is threatening ... Read More
A pumpjack drills for oil in the Monterey Shale

Oil gives up earlier gains as rising US output, China concerns weigh

09/05/2017(0)
Oil prices gave up earlier gains on Tuesday, as concerns over slowing demand and a relentless rise in U.S. crude output undermined the impact of hopes that OPEC-led production ... Read More
A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County Texas

Oil prices rise on expectation of output cut extension

08/05/2017(0)
Oil prices rose on Monday as Saudi Arabia’s energy minister said an OPEC-led production cut scheduled to end in June would likely be extended to cover all of 2017, ... Read More
Shaybah oilfield complex is seen at night in the Rub' al-Khali desert, Saudi Arabia

Oil prices continue slide; WTI nearing six-month low as supply glut weighs

05/05/2017(0)
Oil prices fell by as much as a further 3 percent on Friday, after prices had crashed to five-month lows in the previous session, as concerns about global oversupply ... Read More
limassol-oil-rig

Is oil market moving from balance into deficit?

04/05/2017(0)
Market demand is heading into balance in the second half of the year, should the Organization of the Petroleum Exporting Countries (OPEC) extend its production-cut agreement with other producers ... Read More
A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County Texas

Oil eases, near weakest since late March on small U.S. stocks decline

04/05/2017(0)
Crude oil lost ground on Thursday, falling for a third out of four sessions and trading near its lowest since late March after data showed a lower than expected ... Read More
Brent Crude Oil

Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs

03/05/2017(0)
Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near ... Read More
oil markets

Oil posted losses for two weeks in a row

02/05/2017(0)
U.S. crude futures have posted losses for two weeks in a row and are poised to sink again, according to a historical correlation between oil prices and GDP data. ... Read More
A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County Texas

Oil rises on potential OPEC cut extension, but still faces second weekly loss

28/04/2017(0)
Oil prices rose on Friday but were still on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an ... Read More
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