BREAKING NEWS

Oil market

News

Investors, edgy after US strikes in Syria, turn to oil and gold

Investors in Europe were edgy on Friday following the US air strikes in Syria, but stocks erased most of their initial losses after US officials called the attack a one-off event that would not lead t

Investors in Europe were edgy on Friday following the US air strikes in Syria, but stocks erased most of their initial losses after US officials called the attack a one-off event that would not lead t

News

Oil price falls to new 2017 low

Oil prices have tumbled following an OPEC report that stocks are rising worldwide, despite an agreement to reduce output to try to push up prices.

Oil prices have tumbled following an OPEC report that stocks are rising worldwide, despite an agreement to reduce output to try to push up prices.

Business

Repsol's Alaska oil find enough to supply Spain for four years

Spanish energy firm Repsol's shares jumped after it announced it has found a field with enough crude to supply all of needs of Spain for four years.

Spanish energy firm Repsol's shares jumped after it announced it has found a field with enough crude to supply all of needs of Spain for four years.

Business

Saudi Arabia's oil price target revealed

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.

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.

Business

BP's spending spree means a need for higher crude prices

British oil and gas company BP has said it needs crude oil to be selling for $60 a barrel by the end of the year for it to break even.

British oil and gas company BP has said it needs crude oil to be selling for $60 a barrel by the end of the year for it to break even.

News

Greenpeace take over crane near White House to display "Resist" message

A crane on a construction site overlooking the White House in Washington D.C. has been taken over by Greenpeace to display a banner with the message "Resist".

A crane on a construction site overlooking the White House in Washington D.C. has been taken over by Greenpeace to display a banner with the message "Resist".

News

Trump accelerates controversial Keystone and Dakota pipelines

Not one to shy away from a challenge, US President Donald Trump has signed executive orders to accelerate two controversial pipeline projects.

Not one to shy away from a challenge, US President Donald Trump has signed executive orders to accelerate two controversial pipeline projects.

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.