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Economy

Oil price dips below the 30 dollar mark with Iran poised to crank up exports

Oil has dipped below the 30 dollar a barrel price. That represented a drop of 4.5 percent which means it has tumbled a massive 70 percent in the past

World News

World stocks set for third week of losses as oil falls back below $30

Concerns about global growth are alive and kicking. Commodity currencies took a beating on Friday (January 15) as oil prices fell back below 30

Economy

Oil crash could mean a litre of petrol will be cheaper than a bottle of mineral water

Fed up with the constant talk of tumbling oil prices? Let’s talk water instead. Let’s invert that old saying and pour water on troubled oil times

Economy

Pain at the petrol pumps for motorists despite oil prices tumbling

The theory of cheap oil for the motorist. How does it work – or does it? Tumbling prices and a global glut but not at the pumps. Percentage price

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Business Line

Oil price warnings and Tinder swipes right or left

When US investment bank Goldman Sachs said last year that oil could fall as low as US$20 per barrel, no one really took it seriously, rather as the

Business Series

UK oil giant BP cuts jobs

UK oil company BP is set to pay the price for plummeting prices. It has announced it is to shed 4,000 jobs globally, 600 of which will be lost from

Economy

Calls for an emergency meeting of OPEC countries as oil prices slip

Volatile trading in oil has prompted calls for an emergency meeting of the Organisation of the Petroleum Exporting Countries. Benchmark Brent crude

Economy

Saudis begin opening oil industry to foreign investors

Saudi Arabia will open its oil refining ventures to foreign investors, but not state-owned exploration and production activities, according to

Business Series

Saudi Arabia confirms potential share sale of Aramco

It’s been confirmed Saudi Arabia has been studying options and is considering a share sale of its oil company Saudi Aramco. If the move went ahead it

Economy

Oil slides below 33 dollars a barrel

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

Business Line

Catching China's cold

It is said when America sneezes the world catches a cold. In this first edition of 2016 we look at what happens to the world when China gets sick

Economy

Oil prices hit lowest in 11 years

Oil prices have hit their lowest in over 11 years as the diplomatic fall out between Saudi Arabia and Iran has killed speculation that OPEC members

Economy

Oil supply could grow further after diplomatic fall out between Iran and Saudi Arabia

Oil from Saudi Arabia is a part of the rivalry it has with Iran and now it’s taking to the stage in the diplomatic fall out. How will that effect

World News

Saudis brace for 'prolonged period' of low oil prices

Saudi’s Arabia’s planned cuts in spending and energy subsidies show the world’s largest crude oil exporter is bracing for a prolonged period of low

Economy

Oil industry's pain is the US motorist's gain

It may not do much to reduce air pollution or greenhouse gas emissions – it’s certainly not helped the oil industry – but low fuel prices are a boon

Business Series

After a volatile 2015, a look forward to 2016

On the season finale of Business Middle East we summarise a volatile year and discuss the 2016 forecast for global and MENA markets with Nour Eldeen

Economy

Falling oil prices wreak havoc in Venezuela

The tumbling oil price has had a catastrophic effect in Venezuela, which has the dubious privilege of having the world’s highest inflation. The value

Economy

Brent crude oil price falls to 11-year low

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

Economy

Russia boosts oil exports to Asia, denting OPEC's drive for customers

Russian crude oil exports to Asian countries have increased by almost a quarter this year according to data compiled by Reuters. Sales rose 23

Economy

US Congress leaders agree to end 40-year oil export ban

US Congressional leaders have agreed to lift the country’s 40-year-old ban on oil exports, a historic action reflecting the impact of a boom in