ADVERTISEMENT

More about this topic

Now playing Next

Oil price falls to new 2017 low

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.

14/03/2017

Now playing Next

Saudi Arabia's oil price target revealed

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.

28/02/2017

Now playing Next

OPEC producers really are pumping less, boosting crude prices

Oil prices jump on word that OPEC producers have achieved over 90 percent of the output cuts they had pledged.

10/02/2017

Now playing Next

Oil prices hit 18-month high on production cut hopes

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.

03/01/2017

ADVERTISEMENT

Now playing Next

OPEC and Russia oil cut deals promise to address supply glut

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?

14/12/2016

Now playing Next

Russia signs oil development deals with Iran

Russia is moving forward with its plans to become a major investor in Iran through initial agreements covering various industries, particularly oil.

13/12/2016

Now playing Next

Oil demand set to rise says International Energy Agency

Global oil demand will rise more strongly than expected in 2016 and 2017 the International Energy Agency has said.

13/12/2016

Now playing Next

Oil prices spike on promises to pump less

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.

12/12/2016

Now playing Next

Oil extends gains ahead of OPEC talks

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…

09/12/2016

Now playing Next

Oil hits high for the year

Brent goes through 54$, WTI 51$, oil hitting year highs

01/12/2016

Now playing Next

OPEC agrees first production cut in eight years

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.

30/11/2016

Now playing Next

Oil falls again, dragging down dollar

The oil price continues to fall on doubts OPEC will agree production cuts.

28/11/2016

Now playing Next

Oil prices surge up on output cut hopes

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.

21/11/2016

Now playing Next

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

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

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

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

Monday blues as Deutsche Bank and energy sector pull down European stocks

European stock markets are suffering a nervous Monday as investors sold off energy company and bank shares - with Deutsche Bank the biggest loser.

26/09/2016

Now playing Next

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

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