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Economy

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.

Markets

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.

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.

Markets

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.

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Markets

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.

Economy

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.

Economy

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.

Economy

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.

Economy

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.

Economy

OPEC fails to agree on limiting output, denies it is 'dead'

OPEC has failed to agree on limiting output which would have boosted the price of crude but Saudi Arabia promised not to flood the oil market with extra barrels.

Economy

IEA oil forecast brightens

The International Energy Agency is no longer so concerned about the oil market "drowning in supply" this year and says unplanned disruptions to output could help run down the global glut of crude.

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.

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.

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.

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

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.

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.

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.

Business Series

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.

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.