Last Updated: Thursday, May 28, 2015, 12:10
The US shale oil boom is turning global crude pricing on its head with the historical notion that light grades shall be priced at a premium to heavy ones quickly disappearing, according to predictions from producer group OPEC.
Last Updated: Monday, May 18, 2015, 10:22
The Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday.
Last Updated: Wednesday, May 13, 2015, 13:55
Global oil production exceeds demand by around 2 million barrels per day, or over 2%.
Last Updated: Monday, May 11, 2015, 20:00
OPEC decided against cutting output in November, despite a huge oversupply in world markets.
Last Updated: Monday, May 4, 2015, 13:41
A stronger dollar makes dollar denominated commodities, including oil, more expensive.
Last Updated: Friday, May 1, 2015, 17:51
Iraq`s oil exports rose in April to a record 3.08 million barrels per day (bpd) from 2.98 mln bpd in the previous month, the oil ministry said on Friday.
Last Updated: Friday, May 1, 2015, 03:09
Oil rounded out its best monthly gain in six years on Thursday, with the two global benchmarks for crude rising between 20 and 25 percent in April, helped by a weaker dollar and bets that a supply glut would ease.
Last Updated: Friday, April 17, 2015, 17:13
Oil eased below $64 a barrel on Friday as evidence this week of rising crude supplies from OPEC members outweighed signs of a slowdown in U.S. output and Middle East tensions.
Last Updated: Friday, April 17, 2015, 13:47
The Organization of the Petroleum Exporting Countries (OPEC) said that its March production jumped 810,000 barrels per day (bpd) to 30.79 million bpd, which is equivalent to a third of global supply.
Last Updated: Friday, April 17, 2015, 09:24
US benchmark West Texas Intermediate (WTI) for May delivery dipped 43 cents to $56.28 and Brent crude for June eased 48 cents to $63.50 in late-morning trade.
Last Updated: Thursday, April 16, 2015, 19:38
OPEC`s oil output has surged in March, the producer group said in a report, adding to excess supply in the market despite more evidence that its strategy of letting prices fall to hurt other producers is taking effect.
Last Updated: Thursday, April 16, 2015, 01:38
Oil prices rallied and U.S. crude jumped nearly 6 percent to a 2015 peak on Wednesday after government data showed crude oil inventories in the United States rose less than expected last week.
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