Traders Call Bottom of Oil Price Slump
Global oil markets have hit the bottom of the barrel, according to a host of the world’s most senior oil traders. The chief executives of some of the world’s biggest Continue Reading
Russia, Saudi Arabia Reach Oil-Freeze Consensus, Interfax Says
Saudi Arabia and Russia have reached an agreement that means the Persian Gulf nation will make a final decision on freezing oil production regardless of whether Iran agrees to join, Continue Reading
Oil Breaks Key Technical Level for First Time Since 2014: Chart
Top executives at the world’s largest oil-trading houses said the worst of the market’s woes are probably over, with some predicting prices will climb to $50 a barrel by next Continue Reading
U.S. crude stocks seen resuming build, gasoline inventories likely down
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. U.S. commercial crude oil inventories were forecast to see a build last week, while gasoline stockpiles probably Continue Reading
The Great Glut: Why LNG Markets Might Not Balance Before 2025
The LNG Glut and the Golden Age of Gas, Part 1 ‘Where are all the LNG postponements?’ was the puzzled, plaintive warning heard from Oil & Gas experts Wood Mackenzie Continue Reading
IMF Cuts 2016 Global Economic Growth Outlook to 3.2%
The world economy is increasingly at risk of stalling, the International Monetary Fund warned Tuesday as it once again cut its forecast for global growth prospects. The IMF said it Continue Reading
Band plays on, as global oil glut leaves supertankers in a huge jam
Shipping vessels and oil tankers line up on the eastern coast of Singapore in this July 22, 2015 file photo. It may be the world’s biggest traffic jam. As ports Continue Reading
Saudi Rating Cut for First Time at Fitch on Lower Oil Prices
Saudi Arabia’s credit worthiness was downgraded at Fitch Ratings after the plunge in oil prices. The kingdom’s rating was lowered one level to AA-, the fourth-highest investment grade, the rating Continue Reading
New oil minister tapped in second try at Cabinet overhaul
Jabbar Allibi, a former director general of Iraq’s South Oil Company (SOC), has been proposed as Iraq’s next oil minister, as part of Prime Minister Haider al-Abadi’s second attempt to Continue Reading
Kuwait Seeks Oil Output at 43-Year High as Freeze Talks Loom
Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output to Continue Reading