Search Results for: Crude oil
Iran oil minister: Support any effort to stabilize market and prices
February 18th, 2016
Iran could support any effort to stabilize oil prices, including cooperation between OPEC and non-OPEC oil producers, the nation’s oil minister said after a meeting Wednesday, according to Reuters. Oil Minister Bijan Zanganeh said while he supports a production ...
Oil price rises ahead of OPEC talks with Iran
February 17th, 2016
Oil prices were higher on Wednesday morning as OPEC oil ministers traveled to Iran to talk about a possible production freeze between global oil producers. Skepticism has mounted over the possible freeze mooted Tuesday and Iran has already voiced ...
Asian shares consolidate, oil swings higher
February 17th, 2016
Asian shares were taking a breather on Wednesday after two sessions of solid gains, while oil prices swung higher as the market reconsidered the chances of a meaningful deal to restrict supply later in the year. The mood was ...
The UAE is offering India free oil
February 16th, 2016
UAE will stock 6 million barrels of oil in one compartment of Mangalore facility. Of this, 0.5 million tonnes will belong to India and it can use it in emergencies. In a first of its kind deal, UAE’s national ...
Shares Jump From Europe to Japan as Oil Holds Rally; Yuan Soars
February 16th, 2016
Absence of post-holiday China selloff bolstered sentiment Draghi said ECB will act should turmoil hit price stability Stocks came back with a vengeance amid speculation losses that sent global equities into a bear market had gone too far, with ...
Europe feels pain from olive oil crisis
February 15th, 2016
Europe’s consumers are facing a 20 per cent rise in the price of olive oil after bad weather and disease devastated the continent’s olive harvest. Olive farmers in Spain and Italy, meanwhile, have seen their leading position as exporters ...
Iran resumes oil export to Europe after 5-year-halt
February 15th, 2016
Iran has shipped crude oil to Europe for the first time in five years just a month after world powers lifted sanctions on Tehran in step with the landmark nuclear deal reached last July. The oil shipment to Europe ...
KPI Kuwait said oil prices could reach a range of $50 to $60 a barrel by mid-2017
February 15th, 2016
Kuwait Petroleum International (KPI) said on Saturday oil prices could reach a range of $50 to $60 a barrel by mid-2017, the official state news agency and Reuters reported. The agency quoted the company’s top executive Bakheet Al-Rashidi as ...
Oil prices fall on U.S. storage glut, ongoing economic woes
February 11th, 2016
Oil prices slid on Thursday as record U.S. crude inventories at the Cushing delivery point and worries about a global economic slowdown weighed on markets, and Goldman Sachs said prices would remain low and volatile until the second half ...
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, ...
