Crude Oil Prices Up, But Downside Risks Loom
Crude oil prices eked out minor gains on Asian trade Friday as the market adopts a cautious attitude considering the possibility that large oil producers may discuss a coordinated output Continue Reading
Oil set for second weekly gain on Russia-led supply cut talk
Global benchmark Brent crude futures rose on Friday, moving nearly 8 percent higher so far this week, and set for a second weekly gain, spurred by hopes of a deal Continue Reading
Oil rises for third day on hopes of deal to cut production
Oil prices rose for the third straight day on Thursday on hopes of the first global deal in over a decade between among oil-producing countries to help clear a glut Continue Reading
Russia says Saudis proposing global oil production cut
Russia said on Thursday that OPEC’s largest producer Saudi Arabia, had proposed oil production cuts of up to 5 percent in what would be the first global deal in over Continue Reading
Iran oil minister says not contacted by Russia, sees Total deal
OPEC oil producer Iran has not been contacted by Russia about cuts in output to bolster oil prices, Iranian Oil Minister Bijan Namdar Zanganeh said at a Franco-Iranian summit on Continue Reading
Within OPEC, Iran is a challenge to any deal on oil cuts: sources
Iran, boosting oil exports after the lifting of sanctions, is talking of a need to recoup its market share, making the OPEC member a challenge to any deal among producers Continue Reading
Russia Comments Tease Oil Market Eager for Any Glimmer of Hope
For a few minutes, at least, there was a glimmer of hope for the world’s struggling oil producers. After months of opposing any production cuts, Russia said on Thursday it Continue Reading
OPEC States Say No Meeting Planned as Russia Floats Talks
OPEC delegates said they have no meeting planned with Russia after the country’s Energy Minister Alexander Novak indicated he was willing to meet with the group next month to coordinate Continue Reading
Oil analysts say Russian talk of output cuts gives market ‘false hope’
Oil market analysts on Thursday largely dismissed the possibility of coordinated production cuts by OPEC and Russia, saying the market’s early positive reaction was based on false hope. “Talk of Continue Reading
Decision On Oil Cut Only Possible If All Exporters Agree, Russian Energy Minister Says
A decision on cutting oil production is possible only if all crude exporting nations are in consensus, and there is no timing for talks yet, Russia’s Energy Minister Alexander Novak Continue Reading