Oil prices rose almost 3 percent as OPEC agreed a modest increase in output.
VIENNA/MOSCOW: Russia and Saudi Arabia are pushing OPEC and its allies to raise oil output steeply from July to meet growing demand and cover supply outages in Venezuela and Libya despite opposition from several members of the producer…
LONDON: Britain’s biggest carmaker Jaguar Land Rover will cut around 1,000 jobs and production at two of its English factories due to a fall in sales caused by uncertainty around Brexit and confusion over diesel policy, a source told…
NEW DELHI: Saudi Arabia hopes OPEC and its allies will be able to relax production curbs next year and create a permanent framework to stabilise oil markets after the current supply cut deal ends this year, its oil minister said on…
SINGAPORE: The oversupplied oil market will be rebalanced earlier than expected if major crude producers implement a deal to cap output when they meet next month, the International Energy Agency chief said Tuesday. Under current…
SINGAPORE CITY: Oil prices dipped in Asia Monday after Iran said it has no plans to join any output freeze by other major producers.
SINGAPORE: Oil prices tumbled further in Asia Tuesday on dwindling hopes that key producers will reach an agreement to freeze output when they meet this month to discuss a global supply glut.
LONDON: Movers and shakers from the oil industry descended on London last week and expressed optimism over a sharp rebound in the beleaguered crude market later this year.
SINGAPORE: Oil prices resumed their slide in Asia Wednesday as long-running concerns over the saturated market overshadowed talk of possible coordination between some major producers to slash output.
KANO: It's a situation that mirrors the giant oil industry, where Nigeria has abundant resources but has lacked the capacity, will or ability to exploit it, forcing a reliance on imports.