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Business Series

No hurry to hike: pessimism from BoE on rates and OPEC on oil

The Bank of England met on what was dubbed “Super Thursday” on hopes that Bank Governor Mark Carney would have something positive to say on interest

Economy

Arctic withdrawal pushes Royal Dutch Shell into loss

Royal Dutch Shell has reported a pre-tax loss of $9.1 billion (8.3 billion euros) in the third quarter, largely due to the cost of shelving several

Economy

BP to tighten belt further as oil price slump hits profits

BP has announced a third round of spending cuts and more asset sales to offset an extended period of low oil prices, following a slump in

Economy

Oil producers meet amid little hope of agreement

The price of oil fell again ahead of a meeting on Wednesday of OPEC and non-OPEC producers in Vienna. Reuters reports that of eight non-member

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Economy

Iran vows to reach pre-sanctions oil output

Iran says it wants OPEC countries to cut oil output to boost prices – but intends to increase its own production once international sanctions are

Iraq

Iraq: government forces and Shiite militia retake Beiji oil refinery

Iraqi forces and Shiite militia fighters have recaptured most of the country’s largest oil refinery from the group calling itself Islamic State. The

Economy

Cheaper oil prompts US consumer price fall

The falling oil price saw US consumer prices drop in September by their biggest amount in eight months – but underlying price pressures were up

Economy

Global oil oversupply to persist in 2016, says IEA

The global oversupply of oil will persist through next year, according to the International Energy Agency, as growth in demand slows and

Business Series

Investors turn to precious metals as safe havens

Welcome to Business Middle East. This week we are taking a look at commodity prices. There is a ray of hope for the price of oil and precious metals

Economy

Russia 'ready to meet' other oil producers over market trouble

The price of oil rose on Monday after Russia – one of the world’s top three producers – said it was ready to meet others to discuss the market. Brent

Target

Kazenergy Forum: how to cope with the oil price slump?

Over the past year the global energy sector has been profoundly shaken. Oil prices have more than halved to below $50 per barrel, under pressure from

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Activists celebrate Arctic drilling victory

Business Series

Uncertainty over QE perturbs global markets

Global markets endured turbulent times last week amid uncertainty about monetary easing policies in the eurozone and Japan. ECB chief Mario Draghi

Economy

Campaigners hail Shell withdrawal from Alaska Arctic drilling

Royal Dutch Shell has abandoned its search for oil in the Arctic after failing to find enough supplies of crude during a seven-year quest. It has

Economy

Total cuts oil output growth target

French oil giant Total has reacted to the sector’s low prices by trimming its ambitious output growth targets, as well as cutting its capital and

Economy

OPEC predicts higher demand for its crude oil

OPEC has predicted a higher demand for its crude oil next year, cutting its forecast of supplies from non-member countries. It is sticking to its

Economy

Goldman Sachs says oil prices could fall to $20 a barrel

The price of oil could tumble even further to a low of $20 (17.73 euros) a barrel – that’s the warning from Goldman Sachs in a report published on

Business Line

Business Line special oil edition: a brave new world

In the last few weeks oil prices went on a wild rollercoaster ride. Now they seem to have re-taken their shaky path, driven in no small part by the

Economy

Oil down again, UK North Sea job losses total 5,500

Oil markets were down again on Monday amid continued fears over the fall in prices, the glut in global supply, and a slowdown in demand in China. The

Economy

Where is the oil price going? An expert comments

Volatility in the world markets has extended into oil, which has seen big price fluctuations over the past week, but remains on an overall downward