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WTI oil extends drop below $60 as IEA cuts forecast

WTI has tumbled 20 percent since OPEC decided to leave its output ceiling unchanged last month, resisting calls from members including Venezuela to cut production to stabilize prices.  More »

WTI oil drops below $60 after Saudis question need to cut

OPEC decided against reducing its output quota at a meeting last month, letting prices drop to a level that may slow U.S. production that’s surged to the highest level in more than three decades.  More »

WTI falls to 5-year low as Saudis question need to cut

Oil’s collapse into a bear market has been exacerbated as OPEC’s three largest members offered the deepest discounts on exports to Asia in at least six years.  More »

U.S. getting rid of oil addiction as price plummets in glut

The catalyst for the latest sell-off in oil was an OPEC report that projected demand for its crude would sink next year to levels not seen in more than a decade.  More »

Why Texas is now home to bargain-hunting Japan oil buyers

Their move into Houston illustrates the challenge for OPEC as the highest American output in more than three decades lures the group’s traditional customers and benchmark prices tumble.  More »

Oil price hit by OPEC numbers as Saudis stand firm on output

OPEC cut the forecast for how much crude it will need to produce next year by about 300,000 barrels a day to 28.9 million a day, the least since 2003.  More »

Brent crude drops below $65 as OPEC sees less demand

Brent has collapsed 17 percent in London since Nov. 26, the day before OPEC agreed to leave its production limit unchanged at 30 million barrels a day, resisting calls from members including Venezuela to cut output to stabilize prices.  More »

As oil resumes drop, Iran sees $40 if there’s OPEC discord

Brent collapsed 15 percent since OPEC agreed to leave its production ceiling unchanged on Nov. 27, resisting calls from members including Venezuela to cut output to stabilize prices.  More »

OPEC says 2015 demand for its crude will be weakest in 12 years

OPEC lowered its projection for 2015 by about 300,000 barrels a day, to 28.9 million a day.  More »

Crude oil climbs back from 5-year lows

WTI for January delivery rose 77 cents, or 1.2 percent, to settle at $63.82 a barrel.  More »

Kuwait sees oil stuck at $65 for six months until OPEC moves

OPEC decided on Nov. 27 to maintain its output target, prompting a drop in European benchmark Brent crude to less than $70 a barrel for the first time since May 2010.  More »

Crude rebounds from five-year low

Crude is trading in a bear market as the highest U.S. production in three decades exacerbates a global glut.  More »

Oil plunges to 5-year low

Both Brent and WTI tumbled 18 percent in November as OPEC decided to maintain its 30 million-barrel-a-day output target.  More »

Oil slumps to five-year low as OPEC decision spurs forecast cuts

Oil is trading in a bear market amid signs that U.S. output is expanding even after the decision by OPEC, which is responsible for about 40 percent of global supplies.  More »

Hedge funds betting that OPEC-led oil rout is near end

Oil’s collapse accelerated after the 12-nation Organization of Petroleum Exporting Countries decided Nov. 27 to maintain output levels, underscoring the price war in crude.  More »
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