Oil prices fell on Monday, weighed down by global oversupply and slowing economic growth prospects, although the prospects of falling production lent crude some support. U.S. crude was trading at Continue Reading
Brent crude, the global benchmark, swung between gains and losses near $40 a barrel as a dwindling rig count in the U.S. countered Iran’s plans to expand production. Futures in Continue Reading
Hedge funds are the most bullish on oil in almost a year as the U.S. shale boom unravels and demand for gasoline strengthens. Signs that producers won’t be able to Continue Reading
The slide in oil prices has paused after crude fell more than 70% from its 2014 peak. Now the question is whether the recent rise itself could spark another downward Continue Reading
Oil prices should fall, possibly hard, in coming weeks. That is because fundamentals do not support the present price. Prices should fall to around $30 once the empty nature of an OPEC-plus-Russia production freeze Continue Reading
Russia is ready to coordinate its actions with the U.S.-led coalition in Syria to push the Islamic State group out of Raqqa, Interfax news agency quoted Russia’s Foreign Minister Sergei Continue Reading
Oil Minister Bijan Zanganeh said Iran would join discussions between other producers about a possible freeze of oil production after its own output reached four million barrels per day (bpd), Continue Reading
Iran plans to boost crude output to 4 million barrels a day before it will consider joining other suppliers in seeking ways to rebalance the global oil market. “They should Continue Reading
Nation’s oil demand rose by 300,000 b/d last year: report says India is replacing China as the center of the world’s oil demand growth as it’s economy expands faster than Continue Reading
China has said it seeks more crude oil exports from Nigeria in spite of the recent changes in oil prices. Zao LingXiang, Economic and Commercial Counsellor of the Chinese Embassy Continue Reading
