Now playing Next Venezuela Iran and Venezuela cooperate to boost oil prices Venezuela’s president said he expects new measures to stabalise oil markets and strengthen OPEC to be announced soon. 28/08/2016
Now playing Next Economy Hopes of a production freeze dim, pulling down oil prices Oil prices have slipped amid fading hopes of an agreement to limit production even with the market being hugely oversupplied. 25/08/2016
Now playing Next Economy Oil dips below $50 a barrel as production limit hopes fade Crude oil prices have slipped back after hitting an eight-week high following their longest run of gains in four years in the belief that a limit on output will not be agreed by producers. 22/08/2016
Now playing Next Economy Big job cuts in Britain's oil and gas sector As many as 120,000 workers will have lost their jobs in Britain's oil and gas sector by the end of the year, according to the industry's lobby group. 10/06/2016
Now playing Next Economy Oil prices rise to almost double January's lows 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. 09/06/2016
Now playing Next Business Series Rosneft's quarterly net profit falls 75 percent Rosneft's quarterly net profit fell by 75 percent as crude oil prices declined, but Russia's top oil producer also blamed heavy investment in the period. 08/06/2016
Now playing Next Business Series Cost cutting Royal Dutch Shell to halt operations in up to 10 countries Royal Dutch Shell is to end oil and gas operations in up to 10 countries as it further reduces spending after the purchase of BG Group. 07/06/2016
Now playing Next Business Series Lukoil profits hit by oil price slump Russia's Lukoil has said its profits in the first three months of this year were down by 59 percent as oil prices fell to a 12-year low and its output declined. 06/06/2016
Now playing Next Economy Oil tops $50 a barrel for first time this year Brent crude oil has been above $50 a barrel for the first time this year, up 80 percent on the January price. 26/05/2016
Now playing Next Economy French fuel strike: frustration at the pumps and an investment warning The boss of French energy firm Total has warned it will "seriously reconsider" its future investment plans in France due to the strikes at its refineries against labour law reform. 24/05/2016
Now playing Next France Protests against France's labour reforms spread across the country with transport targeted France is on the brink of an unprecedented social and economic crisis. 23/05/2016
Now playing Next Business Series Brazil's Petrobras gets new boss with same old problems Pedro Parente, the new boss of Brazil's scandal-ridden state-controlled energy firm Petrobras, has been talking about the challenges ahead. 20/05/2016
Now playing Next Libya Divided Libya agrees on oil Rival Libyan factions have reached an outline agreement to join forces and form a single oil authority operating throughout the country. 17/05/2016
Now playing Next Economy Oil prices boosted by supply outages and deficit forecast from Goldman Sachs Oil prices jumped to their highest in six months after forecasters at Goldman Sachs said the world now has a deficit rather than a glut of crude. 16/05/2016
Now playing Next Economy IEA oil forecast brightens The International Energy Agency is no longer so concerned about the oil market "drowning in supply" this year and says unplanned disruptions to output could help run down the global glut of crude. 12/05/2016
Now playing Next Canada Oil production resumes in fire-hit Fort McMurray The blaze continues to spread but experts say it is in uninhabited areas to the east and south of the town. 11/05/2016
Now playing Next Economy Challenges ahead for Khalid al-Falih, Saudi Arabia's new energy minister Saudi Arabia's new energy minister is Khalid al-Falih, with an expanded portfolio and a focus on job creation and economic reform. 09/05/2016
Now playing Next Economy Oil price rise from disruption by Canada's McMurray wildfire Crude prices have risen on fears of significant delays to the restart of production near the wildfire-devastated Canadian oil town of Fort McMurray. 09/05/2016
Now playing Next Business Series Competition issues scupper Halliburton-Baker Hughes merger Oilfield services provider Halliburton and smaller rival Baker Hughes have called off their merger in the face of opposition from US and European competition regulators. 02/05/2016
Now playing Next Norway 11 bodies recovered after Norwegian helicopter crash A helicopter ferrying passengers from a Norwegian oil platform crashed in the North Sea on Friday (April 29) killing at least 11 of the 13 people on 29/04/2016