Oil Falls After OPEC Delays Output Decision
Oil fell in choppy trading on Thursday after OPEC ended a key meeting having made no decision on crude output, as it prepared to debate the matter with other exporters the next day.The…
Oil Prices Find Floor After Falls on Supply Glut Woes
Oil prices edged up on Thursday, supported by news of an attack on a Nigerian pipeline and moving off a five-week low reached the previous session when U.S. crude stocks data compounded…
Oil Finds Bottom on Supply Worries
Oil prices hit 5-week lows on Wednesday on U.S. stock build. Crude oil futures edged up on Thursday, supported by news of an attack on a Nigerian oil pipeline and a weaker U.S. dollar,…
Non-OPEC yet to pledge concrete oil output steps after meeting OPEC
Non-OPEC producers made no specific commitment on Saturday to join the Organisation of the Petroleum Exporting Countries in limiting oil output levels to prop up prices - a stance that…
US O&G Producers Stir from Hibernation: Kemp
U.S. oil and gas drillers are reporting the biggest and most sustained upturn since oil prices began slumping in the middle of 2014. The number of rigs drilling across the country has risen by 149…
Oil Rises on Record Indian Imports, Hopes of Output Caps
Oil prices edged up on Wednesday, supported by record Indian crude imports and talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market.
Saudis Gamble with Price, Hope to Keep Market Share
The Organisation of the Petroleum Exporting Countries surprised oil traders and analysts by announcing a production deal following a hastily convened extraordinary meeting in Algiers on Wednesday.
Oil Glut to ease by 2017, says IEA's Birol
The International Energy Agency (IEA) expects oil markets to reach a balance between supply and demand in 2017 as the current oil glut slowly eases, IEA chief Fatih Birol said during meetings in South Korea.
Hedge Fund Short Covering Fuels Oil Rally
Benchmark crude prices have risen almost 8 percent since early last week in what has all the hallmarks of a short-covering rally. Brent futures for October have risen by more than $4 per barrel from a low of $41.80 on Aug.
Rosneft Boss Says Saudi Arabia, US and Russia Call Shots on Oil Markets
Igor Sechin, the head of Russia's top oil producer Rosneft, said on Tuesday that Saudi Arabia, the United States and Russia were the three main players on global oil markets, dismissing again OPEC's role as a regulator.
Brent Lower on Strong Middle East Output
Rising Middle East output drags on global oil markets. Brent crude prices fell on Tuesday on rising output from the Middle East and ahead of an OPEC meeting on Thursday, while U.S. crude…
Russia: OPEC to Meet with non-OPEC States
Russia's envoy to the Organisation of the Petroleum Exporting Countries said on Wednesday he thought it unlikely that the OPEC would meet with non-OPEC nations to discuss oil production any time soon…
N. Dakota's Steady Production Shows Why Oil Market Rebalancing is Hard
North Dakota's oil production has been flat for more than a year, but it hasn't fallen despite the sharp drop in prices, illustrating the challenges of rebalancing the oil market. Output…
Fundamentals, Hedge Positions Muddle Energy Picture
Successful trading rule No.1: do not enter any significant position until you have worked out an eventual exit strategy. Rule No.1 is especially important if the position is large relative…
UAE Urges Oil Producers not to Raise Output in 2015
The United Arab Emirates oil minister urged all of the world's producers on Sunday not to raise their oil output next year, saying this would quickly stabilise prices. "We invite everyone…
Nigeria Faces Twin Currency, Budget Woes As Oil Price Slumps
A sharp drop in global oil prices has raised the twin spectres of a potential currency devaluation and budget shortfalls in Nigeria just as Africa's biggest economy gears up for a closely…
OPEC to Renew 30 mln bpd Output Ceiling
OPEC agreed on Wednesday to renew its oil production ceiling of 30 million barrels a day for the second half of this year, in a widely anticipated decision. The 12-member Organisation of…
