Search Results for: Crude oil prices
OPEC expects rivals to pump out less oil in 2016
February 10th, 2016
Oil cartel OPEC has cut its forecasts for how much its rival producers will produce in in 2016, while the 12-member group continues to ramp up its own production levels. According to the latest monthly report from the group, ...
Oil prices rebound from sharp selloff; more volatility expected
February 10th, 2016
Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities. Liquidity in Asia ...
Iran ready to discuss oil with Saudis
February 10th, 2016
Iran’s Oil Minister Bijan Zangeneh said on Tuesday that Iran is ready to negotiate with Saudi Arabia over the current conditions in international oil markets. “We support any form of dialogue and cooperation with OPEC member states including Saudi ...
Oil Trades Near $31 After Saudi-Venezuela Talks as Bets Increase
February 8th, 2016
Al-Naimi speaks with counterpart about other producer meetings Vitol CEO says crude to stay between $40 and $60 for 10 years Oil traded near $31 a barrel after Saudi Arabia and Venezuela met to discuss cooperating to stabilize the ...
Bank of England: Oil price fall ‘good for UK economy’
February 5th, 2016
The fall in oil prices has been a “net good” for the economy, Bank of England deputy governor Ben Broadbent has said. He told BBC Radio 5live’s Wake Up To Money that falling oil prices had helped to push ...
Russia is now China’s biggest oil partner — and it’s a huge problem for Saudi Arabia
February 4th, 2016
Saudi Arabia has long trumped Russia in the Chinese oil market. The Saudi share of Chinese crude imports at the beginning of the decade was about 20%, while Russia’s was below 7%, according to data cited by RBC Capital ...
Oil Prices Could Jump 50% by the End of 2016
February 3rd, 2016
WTI seen averaging near $46 a barrel in Q4; Brent at about $48 U.S. sees domestic oil output falling by 620,000 barrels a day Oil bulls distressed that last week’s rally fizzled can find some comfort in forecasts for ...
Oil Prices Drop as Chances Fade for Output Cuts
February 2nd, 2016
Coordinated cutbacks considered less likely after Iran raises its export target Oil prices gave back a big chunk of last week’s gains, with traders losing hope that the world’s big producers will cut their output and that Asia’s economies ...
Asia markets trade lower, focus on oil, earnings and central banks
February 2nd, 2016
Asia markets closed mostly lower on Tuesday, weighed by declines in the energy sector as oil prices continued to tumble. Japan’s Nikkei 225 lost 114.55 points, or 0.64 percent, to close down at 17,750.68, while South Korea’s Kospi slipped ...
Saudi Arabia struggles to cope with cheap oil
February 1st, 2016
Saudi Arabia has managed to buy itself a couple of months. The global rout of oil prices is taking its toll on the kingdom’s bottom line. The country has been forced to cut government spending in its upcoming budget ...
