Saudi Arabia reportedly wants crude oil to rise to around $60 a barrel this year to encourage new investment but not boost US shale oil output.
BP's latest quarterly earnings were almost halved while Shell announced its highest profit in five quarters thanks to the purchase of rival BG Group.
Oil prices have hit their highest in 10 months due to a fall in stockpiles in the United States and supply disruptions in Canada, Nigeria, Venezuela and Libya.
Brent crude oil is up five percent, at more than 41 dollars a barrel. The surge is raising hopes that top producers will will agree to freeze
Oil slid below 33 dollars a barrel on Thursday as a result of rising US energy stockpile and China’s weakening currency. Benchmark Brent fell 4.7
Brent crude fell to its lowest price for more than 11 years on Monday, plunging to $36.05 a barrel before recovering slightly. It came as the global
Oil prices tumbled four percent on Monday, coming close to their 11-year low – amid fears that the global surplus could worsen in the coming months
Crude prices continue to slide as economic slowdowns on both sides of the Atlantic boost fears of lower oil demand. Traders are worried by