Business Line Cheap oil and the music industry's digital revolution 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. 20/04/2016
economy Disappointment over oil supply cap failure pushes crude prices down 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. 18/04/2016
economy Oil prices drop as Iran still not part of production freeze Oil prices continue to be pulled down by the lack of a deal between OPEC and other countries to freeze production. 14/03/2016
economy OPEC oil output cut very unlikely at June meeting, Iran's situation unclear OPEC is very unlikely to cut oil output at its next meeting in June, even if crude prices remain extremely low, according to OPEC sources and delegates 01/03/2016
economy Iran cool on oil production freeze plan Iran has said it supports in principle the freezing of oil production but stopped short of offering to limit its output in response to a Saudi and Russian proposal aimed at pushing up prices. 17/02/2016
economy Saudi Arabia and Russia agree oil output freeze but only if others do the same Saudi Arabia, Russia, Venezuela and Qatar have agreed to freeze their country's oil output, but only if other major producers do the same. There will now be talks with Iran and Iraq. 16/02/2016
economy International Energy Agency says oil glut is poised to worsen The International Energy Agency thinks oil prices won't rise significantly this year as declines in US output take time and OPEC is unlikely to agree with other producers to cut output. 09/02/2016
corporate Oil price slump hits BP and Exxon The bad news keeps pouring out of the oil industry. BP suffered its biggest loss in 20 years and Exxon Mobil has reported its smallest quarterly profit in more than a decade. 02/02/2016
economy Russia to talk to OPEC about pumping less oil to boost prices Russian Energy Minister Alexander Novak has confirmed that Saudi Arabia had proposed oil producing countries cut production by up to 5 percent each in order to support weak oil prices. 28/01/2016
economy Hopes of a supply cut deal push up oil prices Crude prices rose on Tuesday on hopes that OPEC and non-OPEC producers may be edging closer to a deal to pump less oil and address a supply glut. 26/01/2016
corporate 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 12/01/2016
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 12/01/2016
economy Oil prices tumble again to near 11-year low Oil prices tumbled four percent on Monday, coming close to their 11-year low – amid fears that the global surplus could worsen in the coming months 14/12/2015
economy OPEC crude oil output rises to three-year high Unfazed by tumbling prices, undeterred by low demand, OPEC raised its production of crude oil to a three-year high in November. Failure to agree a 10/12/2015
interview UAE Energy Minister Suhail Al Mazroui: "We will not rely on oil" Faced with the challenge of a declining oil market The United Arab Emirates, a major crude producer in the Gulf is striving to diversify its economy 09/12/2015
economy Brent crude oil dips below $40 a barrel for first time since 2009 US crude fell below $37 (34 euros) a barrel on Tuesday, and Brent below $40 (36.7 euros) for the first time since early 2009. Oil prices then 08/12/2015
Business Middle East OPEC: After the latest acrimonious meeting, where now for oil prices? On Business Middle East this week we analyse the repercussions of the latest OPEC meeting decision. According to analysts it’s clear from the meeting 08/12/2015
economy Saudi-led OPEC policy 'targets shale oil producers' OPEC’s failure to agree new limits on oil production regardless of demand and tumbling prices is seen by some as a deliberate move to send rival 07/12/2015
economy Oil output to stay high as OPEC fails to agree ceiling OPEC countries are to carry on producing current high levels of oil for the time being. This comes despite complaints that the huge global surplus is 04/12/2015
economy Energy markets fall as reports say OPEC to maintain output policy Energy markets fell following unconfirmed reports that OPEC has kept its policy of pumping near-record volumes of oil. Anonymous sources quoted by 04/12/2015
economy Saudi Arabia unfazed as OPEC set to keep oil output high OPEC members have been meeting in Vienna with the oil producers’ organisation widely expected to do nothing to tackle one of the worst crude gluts in 04/12/2015
economy Saudi Arabia hints it may back oil output cut - if others do too Are there more signs of a chink in the Saudi armour over oil production? OPEC’s effective leader has been softening its stance against cutting 03/12/2015
economy OPEC 'set to keep pumping oil' despite global glut OPEC is determined to keep pumping oil despite the financial consequences on the policy’s main architect Saudi Arabia, according to Reuters. The news 25/11/2015
economy IEA says oil glut could worsen through 2016 The International Energy Agency has estimated that slowing demand growth – as well as resilient non-OPEC supply – could worsen the oil surplus well 13/11/2015
Business Middle East 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 10/11/2015
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 21/10/2015
