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.
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.
Oil prices jump on word that OPEC producers have achieved over 90 percent of the output cuts they had pledged.
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.
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?
Russia is moving forward with its plans to become a major investor in Iran through initial agreements covering various industries, particularly oil.
Global oil demand will rise more strongly than expected in 2016 and 2017 the International Energy Agency has said.
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 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…
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.
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.
Russia's President Putin says it is ready to join a proposed freeze of oil output by OPEC members but did not say at what level it would cap output.
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.
OPEC has agreed to cut its oil output for the first time since 2008.
Saudia Arabia has softened its stance on Iran pumping more oil, but an OPEC deal to freeze output remains elusive.
European stock markets are suffering a nervous Monday as investors sold off energy company and bank shares - with Deutsche Bank the biggest loser.
In this edition of Business Line we look at the chances of OPEC and non-member producers, including Russia, reaching an agreement on limiting oil production.
Oil prices jumped on Monday after Venezuela's President Nicolas Maduro said OPEC and non-OPEC countries are close to reaching a deal to stabilise markets.
Oil prices were down again on Tuesday following pessimistic predictions about the growth in demand from the International Energy Agency.
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.
A freeze of oil output by major producers is looking more likely as Saudi Arabia signals a change in approach ahead of an OPEC meeting in Algeria later this month.
Oil prices have slipped amid fading hopes of an agreement to limit production even with the market being hugely oversupplied.
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.
OPEC has failed to agree on limiting output which would have boosted the price of crude but Saudi Arabia promised not to flood the oil market with extra barrels.
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.
In this edition of Business Line we look in depth at the major oil producers attempts to stop prices falling and why they failed, plus the good news for the music industry from the digital revolution.
Oil price tumbled on Monday and OPEC's credibility has been seriously undermined with the failure of talks to try to freeze the production of crude.