Search Results for: Saudi Arabia
Oil falls as rising Libyan, U.S. output undermines cuts
May 31st, 2017
Oil prices fell on Wednesday, as rising output from Libya added to concerns about increasing U.S. production that is undermining OPEC-led production cuts aimed at tightening the market. Brent crude futures LCOc1, the international benchmark for oil prices, were ...
Oil drops after OPEC-led output cut extension falls below expectations
May 26th, 2017
Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday’s meeting in Vienna, the Organization of the Petroleum ...
Oil prices fall as White House proposes U.S. oil reserve sales
May 23rd, 2017
Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country’s strategic oil reserves, even as producer club OPEC and its allies cut output to tighten the market. Brent crude futures LCOc1 were ...
Oil climbed toward $51 a barrel
May 22nd, 2017
Crude rises after Saudi Arabia says agreement reached on cuts Pound drops after U.K. threatens to quit Brexit negotiations Oil advanced a fourth day in the build up to OPEC’s gathering in Vienna this week, as speculation grows that ...
Oil prices climb on hopes output cuts will be extended
May 19th, 2017
Oil futures rose on Friday to the highest in nearly a month on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude, with key benchmarks heading for a second week of ...
Oil drops on rising U.S. crude inventories, defies expected supply cut extension
May 17th, 2017
Oil prices fell on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia to extend output cuts. Brent crude was down 41 cents, ...
China shares gain on spending program
May 15th, 2017
Hang Seng China Enterprises Index on course for six-day surge Oil climbs as Russia, Saudi Arabia favor extending output deal Chinese equities rose as optimism over infrastructure spending offset concerns over the strength of the global economy, while oil surged ...
Oil futures rose in Asian trading on Wednesday
May 10th, 2017
Oil futures rose in Asian trading on Wednesday after Reuters reported Saudi Arabia would cut supplies to the region as OPEC battles against rising U.S. output that is threatening to derail its attempts to end a sustained global glut ...
Oil gives up earlier gains as rising US output, China concerns weigh
May 9th, 2017
Oil prices gave up earlier gains on Tuesday, as concerns over slowing demand and a relentless rise in U.S. crude output undermined the impact of hopes that OPEC-led production cuts could be extended. Brent crude futures, the international benchmark ...
Gulf countries will return to economic growth
May 8th, 2017
The International Monetary Fund (IMF) has forecast the return of GCC countries to faster economic growth starting next year, supported by a fundamentally strong financial services sector and improved growth in the non-oil private sector as well as a ...
