BREAKING NEWS

Oil market

News

Judge in Brazil graft probe dies in plane crash

Teori Zavascki's death raises questions over who will take over the country's biggest corruption case.

Teori Zavascki's death raises questions over who will take over the country's biggest corruption case.

Business

Oil prices hit 18-month high on production cut hopes

Oil prices hit their highest in 18 months on hopes the deal between OPEC and non-OPEC members to cut production will reduce a glut of crude.

Oil prices hit their highest in 18 months on hopes the deal between OPEC and non-OPEC members to cut production will reduce a glut of crude.

News

Protests greet 20% petrol price hike in Mexico

Mexico's energy reforms have started to bite with a 20 percent rise at the petrol pumps and angry consumers have been protesting.

Mexico's energy reforms have started to bite with a 20 percent rise at the petrol pumps and angry consumers have been protesting.

Business

OPEC and Russia oil cut deals promise to address supply glut

Business Line considers the details of the agreements reached by oil producers from OPEC and other countries to cut output. Will it boost oil prices?

Business Line considers the details of the agreements reached by oil producers from OPEC and other countries to cut output. Will it boost oil prices?

Business

Russia signs oil development deals with Iran

Russia is moving forward with its plans to become a major investor in Iran through initial agreements covering various industries, particularly oil.

Russia is moving forward with its plans to become a major investor in Iran through initial agreements covering various industries, particularly oil.

Business

Oil prices spike on promises to pump less

Oil hit an 18-month high after OPEC and some of its rivals agreed to jointly reduce output to try to tackle global oversupply and boost prices.

Oil hit an 18-month high after OPEC and some of its rivals agreed to jointly reduce output to try to tackle global oversupply and boost prices.

Business

Oil extends gains ahead of OPEC talks

Oil prices extended gains for a second session running on Friday – fuelled by optimism that non-OPEC producers will agree to reduce output following a cartel agreement to limit…

Oil prices extended gains for a second session running on Friday – fuelled by optimism that non-OPEC producers will agree to reduce output following a cartel agreement to limit…

Business

OPEC agrees first production cut in eight years

OPEC gets its act together in first co-ordinated action in ages and agrees production cut, but analysts say no oil price shock is on the cards.

OPEC gets its act together in first co-ordinated action in ages and agrees production cut, but analysts say no oil price shock is on the cards.

Business

Oil prices surge up on output cut hopes

Oil prices rose to three-week highs on Monday amid expectations that OPEC is moving close to a deal to cut output when it meets next week.

Oil prices rose to three-week highs on Monday amid expectations that OPEC is moving close to a deal to cut output when it meets next week.

Business

OPEC deal optimism pushes up oil prices

There is renewed optimism that the producer group OPEC might agree to limit the amount it pumps, thereby addressing a supply glut and low prices.

There is renewed optimism that the producer group OPEC might agree to limit the amount it pumps, thereby addressing a supply glut and low prices.

Business

Oil bounces back on OPEC deal hopes

Oil prices jumped on Tuesday on expectations that OPEC may be nearing an agreement to reduce a huge supply glut.

Oil prices jumped on Tuesday on expectations that OPEC may be nearing an agreement to reduce a huge supply glut.

Business

BP hit worse than Shell by low oil prices

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.

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.

Business

Saudi Aramco boss warns low prices threaten future energy supplies

Saudi Aramco's head Amin Nasser says low prices mean cash-strapped energy companies are not investing risking shortages of oil and gas in the future.

Saudi Aramco's head Amin Nasser says low prices mean cash-strapped energy companies are not investing risking shortages of oil and gas in the future.

Business

Scepticism mounts over OPEC production cut move

Oil producers in the OPEC cartel have agreed they need to cut production to address a supply glut and lift prices - but the devil is in the details.

Oil producers in the OPEC cartel have agreed they need to cut production to address a supply glut and lift prices - but the devil is in the details.

Business

Madagascar drills deep to make most of unused resources

Madagascar is on the verge of an oil and gas revolution, but how will it develop these new sectors of the economy for the benefit of all without ruining the environment?

Madagascar is on the verge of an oil and gas revolution, but how will it develop these new sectors of the economy for the benefit of all without ruining the environment?

Business

Glut alert! Oil demand slowing, production still high

Oil prices were down again on Tuesday following pessimistic predictions about the growth in demand from the International Energy Agency.

Oil prices were down again on Tuesday following pessimistic predictions about the growth in demand from the International Energy Agency.

News

Haftar's oil blitz could fatally undermine Libyan government

The internationally-recognised Libyan government’s loss of key oil facilities to forces loyal to the eastern administration and General Kalifa Haftar is a potentially serious blow that could starve Tr

The internationally-recognised Libyan government’s loss of key oil facilities to forces loyal to the eastern administration and General Kalifa Haftar is a potentially serious blow that could starve Tr

Business

European markets hit by worries over US rate hike timing

Monday was a rough day for the world's financial markets amid fears that the Federal Reserve could raise interest rates again as early as next week.

Monday was a rough day for the world's financial markets amid fears that the Federal Reserve could raise interest rates again as early as next week.

Business

Saudi Arabia and Russia signed an oil deal - but what does it mean?

Saudi Arabia and Russia have agreed to cooperate over oil, with a task force to recommend measures and actions, but no immediate action by the world's two top producers.

Saudi Arabia and Russia have agreed to cooperate over oil, with a task force to recommend measures and actions, but no immediate action by the world's two top producers.