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A driver refuels her car at a gas station of PetroChina, a subsidiary of CNPC (China National Petroleum Corporation), in Luoyang city, central China's Henan province, 19 August 2014. (File, Bloomberg)

HSBC analyst: China holds the key to an oil rebound

Cutting production is unlikely to trigger a sustainable recovery because China’s economic growth is slowing.
Categories: Crude oil
McDermott International has a $1.5 billion-plus contract with Saudia Arabia's national oil company. (AP file photo/John Moore)

Saudi Arabia edges out Russia in China oil sales as OPEC digs in

The world’s biggest oil exporter sold 3.99 million metric tons to China in October, 0.8 percent more than in September,
(Getty Images)

Year after key OPEC meeting, oil bankruptcies rise to 37

As many or more bankruptcies could occur next year if crude stays cheap, say attorneys at Dallas-based Haynes & Boone, the law firm that compiled the statistics.
(AP Photo/Hasan Jamali, File)

IEA: Iran return will intensify Europe oil-price competition

Europe will be the battleground between producers of sour crude grades, including Russia, Iraq, Saudi Arabia and Iran, as the Asian market becomes more “crowded,” the Paris-based IEA said in its monthly report.
Prime Minister Vladimir Putin of Russia visits an oil rig in the Caspian Sea operated by Lukoil, April 28, 2010. (Alexei Druzhinin/Pool via The New York Times)

Russia’s oil rivalry with Saudis masks bigger Iranian threat

Iranian shipments to Europe came to about 600,000 barrels a day, or 17 percent of its production, before sanctions blocked imports in 2012.
A OPEC logo sits on a sign outside the 167th Organization of Petroleum Exporting Countries (OPEC) conference in Vienna, Austria, on Friday, June 5, 2015. The Organization of Petroleum Exporting Countries has exceeded its own target of 30 million barrels a day for 12 straight months. Photographer: Lisi Niesner/Bloomberg

OPEC: Oil inventory surplus bigger than during recession

For the oil market, the first nine months of the year have seemed like a slow-motion repeat of the huge build in inventories that occurred six years ago amid a worldwide recession.
A handout picture released by the Saudi Press Agency (SPA) shows Saudi Arabia's new King Salman bin Abdul Aziz (C) praying along with Kuwaiti Emir Sheikh Sabah al-Ahmad Al-Sabah (2nd L), King Hamad bin Issa al-Khalifa of Bahrain (L) and other dignitaries and officials during the funeral of his half-brother late King Abdullah in Riyadh on January 23, 2015. The desert kingdom's elderly King Abdullah died early in the morning and was replaced by his half-brother Salman as the absolute ruler of the world's top oil exporter and the spiritual home of Islam. AFP PHOTO / HO / SPA == RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO/HO/SPA" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS ==-/AFP/Getty Images

Saudi Arabia will diversify oil-driven economy to meet U.N. goals on climate change

Saudi Arabia is the last Group of 20 countries with the world’s biggest economies to submit its plan to the U.N. before the summit in Paris.
Fatih Birol of the International Energy Agency.  (Dave Rossman photo)

IEA: Cheap oil era could boost reliance on Middle Eastern crude

If crude prices don’t bounce back by the end of the decade, an era of cheap oil could consolidate more oil-market power into the hands of a few low-cost producers in the Middle East – raising concerns about energy security for oil-importing nations, the IEA says.
Ali al-Naimi, Saudi Arabia’s minister of petroleum. (Joe Klamar/AFP/Getty Images)

Saudi Minister says Asia will drive oil demand

Oil demand will soon reflect the “attractiveness” of the current level of crude prices, and Asia will be a vital engine of economic expansion for decades, Saudi Oil Minister Ali al-Naimi said.
An oil worker walks by an oil pump during a sandstorm in the desert oil fields of Sakhir, Bahrain

FILE - In this Thursday, Jan. 8, 2015 file photo, an oil worker walks by an oil pump during a sandstorm that blew in, in the desert oil fields of Sakhir, Bahrain. Across a Mideast fueled by oil production, low global prices have some countries running on empty and scrambling to cover shortfalls, even as more regional crude is on tap to enter the market.(AP Photo/Hasan Jamali, File)

Oil market needs another month to decide if the rebound is for real

Even with oil prices possibly past the low point, and production falling from outside of OPEC, there aren’t enough signs to say a full recovery is in the works, Kuwait’s oil minister said.