Oil fell on Thursday, dipping back toward 12-year lows on persistent concerns about a supply overhang and the outlook for demand. Oil futures dropped to their lowest levels since 2003 Continue Reading
Oil prices sank to a 12-year low, falling under $28 a barrel in early Asia trade Wednesday, as a glut continues to weigh on markets. On the New York Mercantile Continue Reading
Crude futures slumped again in Asian trade on Wednesday, with U.S. oil dropping more than 3 percent toward $27 a barrel and its lowest since 2003, on worries about global Continue Reading
Crude sank the most in more than four months as oil executives turned gloomier on the prospect of a recovery this year. Futures fell 6.7 percent to the lowest since Continue Reading
The global market likely won’t pull away from the supply side until at least 2017 as crude oil lingers in storage, the head of the EIA told U.S. lawmakers. Crude Continue Reading
Oil executives are starting to talk — or rather, whisper — about a new nightmare scenario: “A lot lower for a lot longer.” Oil executives, policy makers and banks said Continue Reading
Supertankers need a lot of time to stop and turn around. Similarly, shifting the world’s political stance towards Iran has taken a while to effect. And this tortuous process has Continue Reading
Kurdish oil player Genel Energy said it was optimistic for 2016, but recognized macroeconomic pressures and strains from regional security may persist. Genel offered an update before the March 3 Continue Reading
With sanctions pressures easing, the onus to address economic concerns in the depressed oil market is on Tehran, the country’s ruling cleric said. Iran is opening its economic doors to Continue Reading
Saudi Arabian Oil Co. is in talks with two of China’s leading energy companies concerning several energy projects to help increase the Saudi state-owned oil group’s sales in Asia. The Continue Reading
