Now playing Next Business Oil bounces back on OPEC deal hopes Oil prices jumped on Tuesday on expectations that OPEC may be nearing an agreement to reduce a huge supply glut. 15/11/2016
Now playing Next Business BP hit worse than Shell by low oil prices BP's latest quarterly earnings were almost halved while Shell announced its highest profit in five quarters thanks to the purchase of rival BG Group. 01/11/2016
Now playing Next Business Saudi Aramco boss warns low prices threaten future energy supplies Saudi Aramco's head Amin Nasser says low prices mean cash-strapped energy companies are not investing risking shortages of oil and gas in the future. 11/10/2016
Now playing Next Business Optimism rises over OPEC oil freeze deal, Russia pledges to join in 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. 10/10/2016
Now playing Next Business Scepticism mounts over OPEC production cut move 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. 29/09/2016
Now playing Next Business Oil prices rise after OPEC announces first output cut since 2008 OPEC has agreed to cut its oil output for the first time since 2008. 29/09/2016
Now playing Next Business Oil output freeze deal now seen more likely in November Saudia Arabia has softened its stance on Iran pumping more oil, but an OPEC deal to freeze output remains elusive. 28/09/2016
Now playing Next Business Line OPEC and other oil producers tentatively inch towards a production freeze 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. 21/09/2016
Now playing Next Business Oil rises as Venezuela's Maduro says production freeze deal is 'close' 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. 19/09/2016
Now playing Next target Madagascar drills deep to make most of unused resources Madagascar is on the verge of an oil and gas revolution, but how will it develop these new sectors of the economy for the benefit of all without ruining the environment? 15/09/2016
Now playing Next Business Glut alert! Oil demand slowing, production still high Oil prices were down again on Tuesday following pessimistic predictions about the growth in demand from the International Energy Agency. 13/09/2016
Now playing Next Libya Haftar's oil blitz could fatally undermine Libyan government The internationally-recognised Libyan government’s loss of key oil facilities to forces loyal to the eastern administration and General Kalifa Haftar is a potentially serious blow that could starve Tr 12/09/2016
Now playing Next Business European markets hit by worries over US rate hike timing Monday was a rough day for the world's financial markets amid fears that the Federal Reserve could raise interest rates again as early as next week. 12/09/2016
Now playing Next Business Saudi Arabia and Russia signed an oil deal - but what does it mean? 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. 05/09/2016
Now playing Next Business Oil production freeze speculation increases 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. 01/09/2016
Now playing Next Business Oil price slump hits Sinopec profit The sliding price of crude has again hit the profits of Sinopec - the state-controlled China Petroleum and Chemical Corporation. 29/08/2016
Now playing Next Business Statoil promises more for less from Sverdrup field The biggest Norwegian offshore oil project in decades is going to be cheaper and more productive according to energy firm Statoil. 29/08/2016
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 Business 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 Business 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
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