Oil slips towards $33 as hopes for production cut fade
Oil prices fell on Tuesday, dented by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded. Brent for Continue Reading
Oil drops 6 pct on China data, slim chances of OPEC deal
crude oil prices fell 6 percent on Monday as weak economic data from China, the world’s largest energy consumer, reversed a four-day rally from last week and an OPEC source Continue Reading
Natural Gas Retreats on Warm Weather Forecasts
Natural gas prices are posting their largest losses in a month Monday after warmer updates to weather models pushed traders to sell as soon as electronic trading opened. Futures for Continue Reading
Goldman Sees Coordinated Oil-Output Cuts as `Highly Unlikely’
The world’s biggest oil producers including Russia and Saudi Arabia are set to keep pumping crude into a glutted market and forgo coordinated output cuts as OPEC seeks to shut Continue Reading
A new global oil deal could draw lessons from 1998
After a year of secret diplomacy and hushed-up private talks around the world, OPEC’s mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which Continue Reading
For Once, Low Oil Prices May Be a Problem for World’s Economy
For the last 75 years, almost every economic crisis has been preceded by an oil price spike. The worry now is that low energy prices are pushing the global economy Continue Reading
Offshore vessel, rig owners hit by weak demand, consider scrapping early
Weak crude oil prices are taking a toll on demand for offshore vessels and rigs, badly hitting investments in the sector, increasing idle capacity and prompting some owners to scrap Continue Reading
Despite Basra security surge, violence continues
Security forces in Basra are continuing to struggle with an array of challenges, including violence near oil fields between rival tribes, tensions with paramilitary groups, and a rise in mafia-style Continue Reading
U.N. announces start of Syria peace talks as government troops advance
Asaad Al-Zoubi (R), head of the Syrian opposition delegation, and Salim al-Muslat (2nd R), spokesman for the High Negotiations Committee (HNC), attend peace talks with U.N. mediator for Syria Staffan Continue Reading
Saudi Arabia ready to manage oil market but all must cooperate: Al Hayat newspaper
Saudi Arabia is ready to manage the oil market under the condition that “everybody must cooperate”, from OPEC members to other oil producers outside the exporting group, the Saudi-owned al-Hayat Continue Reading