Search Results for: Crude oil
Iran Oil Lands in Europe for First Time Since Sanctions End
March 7th, 2016
Spanish refiner Cepsa offloads first tanker with Iranian crude France and Romania await cargoes as Iran slowly ramps-up sales The Monte Toledo oil tanker covered the uneventful voyage from Iran to Europe with a haul of 1 million barrels ...
Russia to freeze oil output at January level – Putin
March 3rd, 2016
President Vladimir Putin has said Russia will freeze this year’s oil output at January’s production level. An agreement was reached during his meeting with the heads of the country’s oil majors on Tuesday. Putin said Energy Minister Aleksandr Novak ...
Oil prices edge up as confidence rises that market has bottomed
March 3rd, 2016
Oil prices edged higher on Thursday as sentiment spread that a 20-month-long market rout is coming to an end as production slows amid strong demand. U.S. crude futures were trading at $34.76 per barrel at 0540 GMT, up 10 ...
Shale Oil Isn’t Saudi Arabia’s Only Nemesis
March 2nd, 2016
Even when glut stops growing, market might shrug: SocGen History shows oil rebound will hinge on stockpiles: Goldman Even if Saudi Arabia wins its struggle with U.S. shale producers over market share, it will face a new billion-barrel adversary. ...
Is the oil crash over? Prices soar 30% in 11 days
March 1st, 2016
Oil has stopped crashing. Investors around the world freaked out when oil prices plummeted to a 13-year low of $26.05 a barrel on February 11. But they are now sitting at $34 a barrel, marking an incredible 30% spike ...
Arab States Face $94 Billion Debt Crunch on Oil Slump, HSBC Says
February 29th, 2016
$52 billion of bonds, $42 billion of loans due this, next year Refinancing challenging with slow growth, rating downgrades Gulf Cooperation Council countries may struggle to refinance $94 billion of debt in the next two years as the region ...
Oil Prices up on Strong U.S. Data and Lower Oil-Rig Count
February 29th, 2016
Crude oil prices rose in early Asian trade Monday, buoyed by hopes that a fall in U.S. oil rigs would ease excess supply while stronger consumer spending in that country would spark demand for oil. On the New York ...
Saudi Oil Minister Surprises OPEC with Tough Line on Prices
February 25th, 2016
Prepared for $20 a barrel to force production cuts outside the Middle East, Says al Naimi Saudi Arabian Oil Minister Ali al-Naimi surprised fellow members of the Organization of the Petroleum Exporting Countries on Tuesday when he said the ...
Asia shares edge ahead with oil, pound slips
February 22nd, 2016
Asian share markets edged cautiously higher on Monday as investors awaited a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European ...
Oil crisis: Prices decline again after Saudi Arabia refuses to cut production
February 19th, 2016
Oil prices declined after Saudi Arabia’s foreign minister Adel al-Jubeir said that his country will not cut production. The statement made on 18 February is contrary to what Saudi Arabia had agreed to at the recent emergency meeting in ...
