Last Updated: Friday, June 5, 2015, 18:00
Oil prices rose on Friday, breaking a two-day losing streak, after OPEC ministers maintained their existing oil production target for another six months at a level below current output.
Last Updated: Friday, June 5, 2015, 17:47
OPEC has been pumping over 31.2 million bpd in recent weeks, a Reuters survey has shown with Saudi Arabia production near record levels.
Last Updated: Friday, June 5, 2015, 10:19
"We expect payroll numbers to go up, and this will in turn firm up the dollar and subsequently make dollar-priced crude more expensive," said Teo.
Last Updated: Friday, June 5, 2015, 10:09
However on Thursday, New York`s West Texas Intermediate (WTI) crude and London`s Brent oil both fell sharply for a second day as traders fretted that a no-change OPEC decision would further fuel the burgeoning global supply glut.
Last Updated: Thursday, June 4, 2015, 17:00
OPEC headed Thursday towards holding crude output levels on the eve of its production meeting, as oil prices slid back under $60 a barrel on concerns that the expected decision would further fuel oversupply.
Last Updated: Wednesday, June 3, 2015, 22:03
Reiterating New Delhi's decade-old demand, Oil Minister Dharmendra Pradhan said the OPEC is not justified in asking Asian buyers to pay more so that transportation cost to distant consumers particularly in the West can be subsidised.
Last Updated: Wednesday, June 3, 2015, 20:47
OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year`s shock market therapy has revived demand and knocked back growing competition.
Last Updated: Wednesday, June 3, 2015, 18:32
Recent unrest in the Middle East and North Africa has little impact on oil prices because the market has become "comfortable" with risk, Saudi Arabia`s Oil Minister said Wednesday.
Last Updated: Wednesday, June 3, 2015, 10:28
WTI jumped USD 1.06 and Brent rose 61 cents yesterday after a sharp fall in the US dollar, which made dollar-priced crude cheaper for buyers using weaker currencies.
Last Updated: Wednesday, June 3, 2015, 04:18
A sharp fall in the dollar on improved eurozone economic data sent New York oil prices to fresh 2015 highs Tuesday, even as officials at OPEC defended their generous output strategy.
Last Updated: Tuesday, June 2, 2015, 07:08
Oil prices dipped Monday as the dollar strengthened and the market looked ahead to an OPEC meeting expected to keep output high.
Last Updated: Saturday, May 30, 2015, 10:13
Crude oil prices rose more than 1 percent on Friday after U.S. inventories fell for a fourth straight week, though a stronger dollar left prices set for a weekly drop.
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