Oil traded near $51 a barrel as investors weighed a surprise increase in U.S. stockpiles against OPEC-led efforts to reduce the global oversupply. Futures were little changed in New York Continue Reading
FILE PHOTO: A man pumps petrol for his car at a petrol station in Hanoi, Vietnam December 20, 2016. Oil prices edged up on Thursday, on track for a weekly Continue Reading
The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses Continue Reading
The oil products that we use—such as gasoline, diesel, and heating oil—are all refined from crude oil. If the demand for these refined products increases, then the demand for crude Continue Reading
Iran has sold all the oil it had stored for years at sea and Tehran is now struggling to keep exports growing as it grapples with production constraints, shipping and Continue Reading
The depletion of Saudi Arabia’s currency reserves shows no sign of abating It was meant to be a given that a rebound in oil prices would slow the depletion of Continue Reading
Middle East international bond sales are off to the strongest ever start to a year as borrower demand for funds outstrips the firepower of local banks in an era of Continue Reading
An exploration campaign off the coast of Cyprus is planned by 2018 following a study of the reserve potential, a Qatari energy company said Wednesday. Cypriot President Nicos Anastasiades hosted Continue Reading
Iraq has plans to boost its crude oil production by 600,000 bpd to 5 million bpd by the end of this year, regardless of its participation in OPEC’s production cut Continue Reading
Iraq says it cut output by 300,000 bpd in March, taking production down to an average of 4.464 million barrels per day (mb/d). That puts Iraq at about 98 percent Continue Reading
