Stocks Resume Slide on Oil Concerns
Global stocks resumed the steep declines that have characterized much of the year on Thursday, as fears around commodity prices and the outlook for global growth continued to weigh on Continue Reading
Iran: No request for OPEC meeting
Iran has received no formal request for an extraordinary meeting for members of the Organization of Petroleum Exporting Countries, its oil minister said. Nigerian Oil Minister and current OPEC President Continue Reading
Iran’s moderates ensure swift release of US sailors
Iran has released two US patrol boats and 10 crew members who were taken into custody on Tuesday after Tehran said they strayed into Iranian waters “unintentionally”. The swift resolution Continue Reading
Iran’s Swift Release of U.S. Sailors Hailed as a Sign of Warmer Relations
Iran ’s release of 10 United States Navy sailors on Wednesday, less than 24 hours after they were detained on the Persian Gulf, is being hailed in both countries as Continue Reading
Iran’s Post-Sanctions Oil Surge Likely to Come in a Half Measure
Iran may only be able to deliver about half of the promised surge in crude output after sanctions are lifted as it struggles to revive idled fields, according to banks Continue Reading
Libya Meets With Energy Companies to Bolster Recovery of Its Damaged Petroleum Sector
The head of Libya’s state-oil company on Wednesday said he is meeting with major oil companies such as BP BP 0.07 % PLC to try to jump-start the country’s potential Continue Reading
Africa’s Richest Man Will Fix Nigeria’s Chronic Fuel Crisis
After waiting in line for more than four hours to buy gasoline in Nigeria’s capital, Abuja, taxi driver Adebayo Olawole considered himself fortunate he got a half-filled tank. The day Continue Reading
Nigeria Rules Out Cutting Oil Production in Isolation of OPEC
Nigeria said Wednesday it would not cut oil production outside the framework of the Organisation of Petroleum Exporting Countries (OPEC), even as nose diving crude prices caused by a global Continue Reading
China Tightens Hold Over Prices for Gasoline, Diesel
China’s government, worried that energy has gotten too cheap, said it will tighten its hold over domestic prices for gasoline and other products in response to a slide in global Continue Reading
Is China’s Devalued Currency a Takedown on Oil Prices, Too?
Weak Chinese demand for oil, coupled with its devalued currency against the US dollar could lead industry into a deeper trough, economists say. Following an inauspicious start to 2016, oil Continue Reading