OPEC

World oil prices edge down over expected climb in US output
Business

World oil prices edge down over expected climb in US output

Oil prices fell in thin trade on Tuesday after the Easter holiday break shut many markets for as long as…
World oil market ‘close to balance’ despite OPEC cuts: IEA
Business

World oil market ‘close to balance’ despite OPEC cuts: IEA

Supply and demand in the oil market are close to matching up, the IEA said Thursday, as landmark OPEC-led production…
Oil prices fall as Libya’s output rebound boosts supply
Business

Oil prices fall as Libya’s output rebound boosts supply

Oil prices fell on Tuesday as a rebound in Libyan crude production combined with an increase in US drilling to…
Oil prices dip as doubts remain over OPEC supply cuts
Business

Oil prices dip as doubts remain over OPEC supply cuts

Oil prices dipped on Friday as the market looked for clues on how effectively OPEC production cuts are working to…
Oil drops to 3-month low, US erases all gains since OPEC output cut
Business

Oil drops to 3-month low, US erases all gains since OPEC output cut

Oil tumbled on Tuesday after OPEC reported a rise in global crude stocks and a surprise output jump from its…
Oil touches three-month lows, as US supply swells
Business

Oil touches three-month lows, as US supply swells

Oil hovered around three-month lows on Monday, as rising US inventories and drilling activity offset optimism over OPEC's efforts to…
Saudi energy minister says oil market fundamentals improving
Business

Saudi energy minister says oil market fundamentals improving

Saudi Energy Minister Khalid al-Falih said on Tuesday that oil market fundamentals were improving after an agreement struck with top…
Saudi Arabia wants oil prices to rise to around US$60 in 2017: sources
Business

Saudi Arabia wants oil prices to rise to around US$60 in 2017: sources

Saudi Arabia wants crude oil prices to rise to around US$60 a barrel this year, five sources from OPEC countries…
Oil prices rise after report shows drop in US stocks
Business

Oil prices rise after report shows drop in US stocks

Oil prices rose on Thursday after US data showed a surprise decline in inventories, suggesting that a global glut may…
‘Historic’ deal with non-OPEC Saturday – OPEC SecGen
World

‘Historic’ deal with non-OPEC Saturday – OPEC SecGen

The Organization of Petroleum Exporting Countries (OPEC) Secretary-General Mohammed Barkindo said he saw a total of 12 non-OPEC countries signing…
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