Oil Prices Fall to 11-Year Low
Oil prices fell to an 11-year low on Wednesday under pressure from a strong dollar and weak economic data from China, the world’s second-biggest crude consumer. Investors were also positioning Continue Reading
Market fundamentals driving oil for now, analysis finds
The glut of oil on the global market is diminishing the prospects that tensions between Iran and Saudi Arabia will cause a spike in oil prices, analysis finds. Crude oil Continue Reading
Grim year forecast for developing nations
Developing economies last year recorded their slowest growth since the immediate aftermath of the 2008 financial crisis and are facing the prospect of an equally grim 2016, the World Bank Continue Reading
OPEC switches to Argus from Platts for energy price data
The Organization of the Petroleum Exporting Countries (OPEC) has switched to Argus Media as its energy price data provider this year, dropping global pricing service Platts. The producer group, which Continue Reading
Iran accuses Saudis of bombing embassy in Yemen
Iran has accused Saudi-led coalition warplanes of bombing its embassy in Yemen’s capital Sanaa, state media say. Broadcaster Irinn said missiles had struck the embassy, causing damage. Sanaa residents said Continue Reading
Ibrahim Khalil crossing to Turkey reopens
Iraq’s main crossing with Turkey reopened yesterday after 22 days of closures that choked off commerce and left thousands of trucks and people stranded at both sides of the border.So Continue Reading
Kurds make payments for oil exports
Energy companies working in the Kurdish north of Iraq said they’ve received payments from the regional government for crude oil exports. Norwegian energy company DNO International confirmed it received $30 Continue Reading
Islamic State Poses Growing Threat to Libya’s Oil Industry
The scope of Islamic State’s attacks on Libya’s eastern oil ports expanded on Wednesday, Libyan officials said, with at least five oil tanks set on fire amid fears the group Continue Reading
Nigeria: Lagarde Urges Nigeria to Diversify Its Economy Away From Oil
The head of the IMF, Christine Lagarde, is meeting with Nigerian President Buhari and industry leaders to discuss the country’s economy and the challenge posed by falling oil prices. Christine Continue Reading
Pressure Mounts for Nigeria Naira Devaluation on Oil Plunge
Nigerian authorities are facing growing pressure to devalue the naira as the price of oil, its biggest source of foreign exchange, fell to the lowest since 2004. The Central Bank Continue Reading