An oil tanker sits anchored off the Fos-Lavera oil hub near Marseille, France, in this October 15, 2015 file photo. Oil-producing countries will sell $240 billion of international assets this Continue Reading
The International Monetary Fund cut its world growth outlook, as the commodities slump and political gridlock push Brazil deeper into recession, plunging oil prices hobble Mideast crude producers, and the Continue Reading
Highlights (19 January 2016) Markets were routed in December as persistent oversupply, bloated inventories and a slew of negative economic news pressured prices so that by mid-January crude oil touched Continue Reading
OPEC forecast on Monday that oil supply from non-member countries will post a larger-than-expected decline this year due to the collapse in prices, boosting the need for crude from the Continue Reading
Iran announced its full return to the global oil market by ordering an immediate increase in production, prompting warnings from fellow Opec members that it risks prolonging the biggest price Continue Reading
Unseasonably warm weather and rising supply will keep the crude oil market oversupplied until at least late 2016, the International Energy Agency said in its monthly report on Tuesday. Warm Continue Reading
Iran’s post-sanctions ramp up of crude sales will likely intensify competition among oil producers for a share of the Mediterranean oil market as the country seeks to win back customers Continue Reading
The IEA trimmed 2016 estimates for global oil demand as China’s economic expansion weakens and raised forecasts for supplies outside the Organization of Petroleum Exporting Countries. While non-OPEC supply is Continue Reading
Oil prices could fall further this year as the market faces an “enormous strain” on its ability to absorb new supplies from producers such as Iran, a top world energy Continue Reading
The oil market “could drown in oversupply” as Iran’s return offsets production cuts, paving the way for a further slide in prices, the world’s leading energy forecaster said on Tuesday. Continue Reading
Production outside the Organization of Petroleum Exporting Countries will drop by 660,000 barrels a day, the group said Monday in its monthly market report, deepening the decline from its previous Continue Reading
Iran’s oil ministry issued an order to increase production by 500,000 barrels a day as the country moved ahead with plans to add supply to a glutted market even at Continue Reading
Hellenic Petroleum, Greece’s biggest oil refiner, will meet top Iranian oil officials on Friday to discuss crude oil imports from Iran, a company source said on Monday, after world powers Continue Reading
Saudi Arabia, the world’s largest crude exporter, shipped the most oil in seven months in November in a sign that overseas refineries were getting prepared to put plants back on Continue Reading
The Syrian Observatory for Human Rights group said scores of Syrian government forces have been killed in three days of fighting with Islamic State in the east of the country, Continue Reading
China recorded a pronounced deceleration in growth last year, affirming that a multiyear slowdown is biting the world’s second-largest economy harder and shows little sign of abating. The growth rate, Continue Reading
Saudi Arabia’s closest allies have sided with Riyadh in its diplomatic standoff with Iran, but the kingdom’s attempts to assemble a broader anti-Tehran bloc are exposing the limits of its Continue Reading
Photo An investor at a securities company in Beijing. Investors have been on edge in recent weeks amid renewed turmoil in China’s stock markets and currency exchange rate. Credit Wang Continue Reading
The lifting of sanctions against Iran could take up Nigeria’s share of oil export to India, findings have shown. Economic sanctions on Iran were lifted on Saturday after the UN Continue Reading
Malaysia’s state-oil firm Petroliam Nasional Bhd., or Petronas, is planning to slash as much as 50 billion ringgit ($11.4 billion) in capital and operating expenditure over the next four years, Continue Reading
China’s economy slowed in December, capping the weakest quarter of growth since the 2009 global recession, as the Communist leadership struggles to manage a transition to consumer-led expansion. Industrial production, Continue Reading
Cnooc Ltd., China’s biggest offshore oil and gas producer, plans to trim output for the first time in more than a decade as it cuts spending to cope with oil’s Continue Reading
Chinese steel production and power generation contracted last year for the first time in at least a quarter of a century, according to official statistics released on Tuesday, as the Continue Reading
If currencies at least partly determine where things get made, the continued rise in the US dollar is bad news for manufacturers in the US. It is especially bad news given Continue Reading
China’s economy recorded the slowest annual expansion in a quarter of a century in 2015 as authorities signaled more supply-side structural reforms for long-term growth. The economy grew 6.9 percent Continue Reading
Never has corporate turnaround expert Jeff Huddleston been more needed or more dreaded. Huddleston says he’s gotten used to being “the most hated guy” in the room over the past Continue Reading
Undeterred by taunts that fusion always seems to lie 50 years in the future as a commercial energy source, a growing programme of research is aimed at taming the nuclear Continue Reading
The ruble strengthened the most in almost four weeks as oil and other emerging-market currencies climbed while Rabobank said it may be premature to expect further gains. The Russian currency Continue Reading
From Science magazine’s “The Next Oil Crisis Looms Large—and Perhaps Close,” Aug. 21, 1998: This spring . . . the Paris-based International Energy Agency (IEA) of the Organization for Economic Continue Reading
Crude oil prices continued to slide Monday with the Brent global benchmark and its U.S. counterpart West Texas Intermediate firmly entrenched under $30 a barrel. Brent fell 1.28% to $28.54 Continue Reading
Oil prices hit their lowest since 2003 on Monday, as the market braced for additional Iranian exports after the lifting of sanctions against the country over the weekend. The United Continue Reading
Iran is determined to raise its oil output as planned as soon as sanctions on its oil industry are lifted, Mehdi Asali, its representative to the OPEC producers’ group, said Continue Reading
As Iran emerges from a decade of international sanctions, its Gulf Arab rivals are facing their toughest economic predicament since the global financial crisis. Governments across the six-nation Gulf Cooperation Continue Reading
Iran could get more than five times as much cash from oil sales by year-end as the lifting of economic sanctions frees the OPEC member to boost crude exports and Continue Reading
Iran celebrated the removal of economic sanctions on Sunday, even as regional rivals warned that it was still out to destabilize the Middle East and needed to be closely monitored. Continue Reading
Iran’s full re-entry into the global oil market could take months following the lifting of Western sanctions this weekend, one of the country’s top oil officials said Sunday, signaling that Continue Reading
Iran’s success in winning an end to international sanctions will only intensify a power struggle among the faction-ridden elite, and President Hassan Rouhani cannot count on domestic political support from Continue Reading
When Iranian voters rallied behind Hassan Rouhani in 2013 as their surprise choice for president, they picked a reformer who promised to end the crushing pain of international sanctions. On Continue Reading
The Iraqi oil ministry has reduced the local retail price of high octane gasoline to reflect the lower cost of importing it, the government said on Sunday on its website.A Continue Reading
Saudi Oil Minister Ali al-Naimi said crude prices will rise and foresees that market forces and cooperation among producing nations will lead in time to renewed stability. “I am optimistic Continue Reading
The Nigerian military on Sunday confirmed that multiple attacks were carried out on oil installations in the Niger Delta area. The Commander of the Joint Task Force, JTF, Alani Okunlola, Continue Reading
Nigeria’s troubled economy, which is on the brink of a recession, is expected to worsen following the lifting of economic sanctions on Iran by the United States which effectively re-admits Continue Reading
China Securities Regulatory Commission Chairman Xiao Gang in Hong Kong in January 2015. What’s wrong with China’s stock market? Just about everything, according to a statement from Xiao Gang , Continue Reading
Sainty Marine Corporation started small, buying and selling a few ships in the 1980s. But the state-owned Chinese company went on a debt-fueled binge over the last few years, opening Continue Reading
Chinese oil producer MIE Holdings Corp. fell to record lows in the bond market after Fitch Ratings downgraded it further into junk territory citing uncertainty it will be able to Continue Reading
The classic I.P.A.T. (Ecological Impact = Population * Affluence * Technology) equation very succinctly sums up the problem that humanity faces. Growth in both the number of people on the Continue Reading
The head of Nexen Energy ULC, which is owned by Chinese state-controlled energy company Cnooc, apologized for the accident at its Long Lake facility in northern Alberta and said Cnooc Continue Reading
Oil held above $118 on Wednesday but stayed on the boil due to a weakening dollar, supply disruptions in Nigeria and fears that a refinery strike in Scotland could hit Continue Reading
Negative energy prices are rare but not unprecedented. Propane traded at a negative value in Edmonton, a key pipeline hub in oil-rich Alberta province, for about three months last year. Continue Reading
The two Canadian energy companies have been working on a revised bid since Friday , this person said, adding that talks were still ongoing. The value of the potential revised Continue Reading
