Weak economic outlook and oversupply weigh on oil markets

Last Updated: Tuesday, September 8, 2015, 08:21

Japan`s economy shrank an annualised 1.2 percent in April-June, revised GDP data showed on Tuesday, despite ongoing government and central bank measures to support growth.

Oil markets catch breath after biggest gains in six years

Last Updated: Friday, August 28, 2015, 08:27

Crude oil futures were largely steady on Friday after posting their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies.

Oil price near 6.5-year low as China economy fears linger

Last Updated: Wednesday, August 26, 2015, 08:56

Crude oil futures held in a narrow band on Wednesday not far off 6-1/2 year lows after China`s central bank moved to support the country`s stumbling economy, while concerns about a supply glut capped gains.

Without Saudi support, talk of OPEC emergency meeting is just noise

Last Updated: Tuesday, August 25, 2015, 23:16

Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices.

Oil dives below $40 per barrel, logs longest weekly losing streak in 29 years

Last Updated: Friday, August 21, 2015, 21:59

US crude oil prices on Friday dove below USD 40 a barrel for the first time since the 2009 financial crisis, notching their longest weekly losing streak in 29 years.

Five key reasons behind falling oil prices

Last Updated: Thursday, August 20, 2015, 10:59

Here are the 5 key reasons of oil price decline.

Oil hits four-month low on China stocks tumble, supply worries

Last Updated: Tuesday, July 28, 2015, 00:11

Crude oil futures hit four-month lows on Monday after a steep drop in China`s stock markets spread concerns about the economic health of the world`s biggest energy consumer, amid evidence of a growing crude glut.

Oil up more than 1% after US inventory drop

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.

Oil market jumps on hopes of easing global supply glut

Last Updated: Wednesday, April 15, 2015, 19:05

World oil prices shot higher Wednesday on forecasts that US shale production would likely drop and help ease a global supply glut, analysts said.

IEA says oil supply boost may defer market tightening

Last Updated: Wednesday, April 15, 2015, 16:04

The agency raised its forecast for global oil demand growth in 2015 for a second consecutive month, citing strong pockets of consumption in Europe, India and the United States.

Saudi crown prince blames weak growth for oil 'tensions'

Last Updated: Tuesday, January 6, 2015, 23:04

A weak global economy is the main reason for "tensions" in world oil markets, Saudi Arabia's crown prince said Tuesday, in a speech on behalf of ailing King Abdullah.

Oil markets face uncertain future as OPEC targets competitors

Last Updated: Monday, December 22, 2014, 17:55

A supply glut, lower demand and the stronger US dollar have all contributed to pushing down oil prices, which have dropped nearly 50 percent since June to around $60 a barrel.