Search Results for: opec
Brent crude and WTI: Oil prices waver as Iran casts doubt on production cut deal
February 17th, 2016
Oil prices wavered this morning, dipping in and out of the red, as speculation swirled around oil markets over whether a deal between Saudi Arabia and Russia to freeze output at January levels would lead to a broader production ...
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 turned lower as Iran loads shipment for Europe
February 15th, 2016
Oil prices turned lower again today after soaring at the end of last week as Iran prepared to ship its first consignment of the commodity since sanctions were lifted, reigniting worries over a global supply glut. Both main contracts ...
Nikkei surges 7%, Topix up 8.3%; China lose ground
February 15th, 2016
Asian stocks mostly climbed on Monday, with Japan shares surging after last week’s sharp selloff. But China’s shares lost ground as its markets re-opened after the week-long Lunar New Year holiday. The Nikkei 225 retraced losses some of Friday’s losses, jumping ...
Asia markets close mixed; Hong Kong shares tumble
February 11th, 2016
Asian markets closed mixed on Thursday as investors digested remarks from Federal Reserve Chair Janet Yellen and oil remained volatile. Hong Kong’s Hang Seng index, which resumed trading today after being shut from Monday through Wednesday for the Lunar New ...
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 ...
IEA releases Oil Market Report for February
February 10th, 2016
As signs of a demand slowdown surface, higher OPEC output only partly offsets non-OPEC decline Having peaked, at a five-year high of 1.6 million barrels per day (mb/d) in 2015, global oil demand growth is forecast to ease back ...
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 ...
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 ...
