Tag: OPEC

Oil rebounds from five-year low as Saudi comments add volatility

West Texas Intermediate, the U.S. grade, climbed as much as 2.6 percent in New York and Brent 2.2 percent in London.  More »

Exxon Mobil shows why U.S. oil output rises as prices plunge

Oil companies, while trimming 2015 budgets to cope with the lowest crude prices in five years, are also shifting their focus to their most-prolific, lowest-cost fields.  More »

Oil drops to 5-year low on concern supply glut to worsen

Saudi Arabia, the largest producer in OPEC, will stick to its policy to maintain output, Oil Minister Ali Al-Naimi said.  More »

Saudi Arabia says OPEC won’t give up oil-market share

Global oil markets are experiencing “temporary” instability caused mainly by a slowdown in the world economy, Oil Minister Ali Al-Naimi said.  More »

Crude resumes slide on concern supply outpacing demand

Trading volatility for both Brent and West Texas Intermediate increased to a four-year high.  More »

Crude oil futures rebound with stocks as selloff pauses

Brent, the benchmark for half the world’s oil, advanced from a five-year low. West Texas Intermediate shrugged off an increase in supplies at Cushing, the delivery point for Nymex futures.  More »

Militant fighting, price plunge threaten Iraq’s oil production goal

Iraq is supposed to add more new oil production by the end of this decade than any other OPEC member.  More »

Oil trades near 5-year low as Russia echoes OPEC output policy

Oil has slumped about 45 percent this year as a surge in shale drilling lifted U.S. output to the fastest pace in three decades amid slower growth in world demand.  More »

Global crude plunges through $60 as producers fail to curb glut

Brent futures slumped as much 3.3 percent to its lowest since May 2009 in London.  More »

Nigeria’s oil unions continue strike that may curtail exports

Any reduction in pumping would coincide with a collapse in the price of Nigeria’s biggest source of revenue.  More »

Crude seen falling to $50 in 2015 as OPEC fails to stem glut

Brent futures sank to a five-year low Monday, two weeks after OPEC decided to maintain output even as the highest U.S. production in three decades swells a global surplus.  More »

Oil falls as UAE says OPEC won’t cut output to boost price

Prices have fallen about 20 percent to the lowest in five years since OPEC decided against cutting production to tackle the glut at a Nov. 27 meeting.  More »

Producers, oil-tool firms hold off on IPOs as crude plunges

Wall Street investors have had a hard time putting a stock-market value on these companies because crude prices are still wobbling daily.  More »

Goldman sees U.S. oil output unscathed as costs decline

The slump in benchmark U.S. crude futures, which are down more than 40 percent this year, is driving producers to move drill rigs to lower-cost fields, the bank said in an e-mailed report.  More »

Oil jumps most in two weeks as fighting, strike curb OPEC output

Fighting disrupted exports from Libya’s largest and third-largest crude ports and halted output from some fields, state-run National Oil Corp said.  More »
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