Reuters Poll: Supply Fears To Sustain Oil Rally, Trumping Recession Risks
Oil prices are expected to stay above $100 a barrel this year as Europe and other regions struggle to wean themselves off Russian supply, a Reuters poll showed on Thursday, though economic risks could slow the climb.
OPEC Boosts Oil Income In 2021, Well Completions Drop
OPEC's oil revenue surged in 2021 as prices and demand recovered from the worst of the COVID pandemic, while the number of its members' active rigs posted a modest rebound and new completed wells declined, data from the group showed.
Harbour energy CEO warns of lower UK investment due to windfall tax
The North Sea's biggest oil and gas producer, Harbour Energy, has told the British government that Britain's planned windfall tax on the energy sector will shrink the company's investment in the country.
'Perfect Storm' For Airlines Facing Strong U.S. Dollar And High Oil Prices
Global airlines are grappling with a double whammy from the rare combination of a strong U.S.
Sanctioned Russia Becomes China's Main Source Of Oil
Sanctioned Russia becomes China's main source of oil
Russia-Ukraine war: Unwanted Russian oil and gas pose big environmental risk
The trade sanctions imposed by western nations along with the European Union on Russia for its invasion of Ukraine have meant that one of the biggest oil and gas exporters is now left with additional stocks of the two resources with nowhere to send them to.
Oil prices surge as Saudi Arabia pledges to cut output
Members of the oil cartel OPEC and their partners agreed Tuesday to raise output slightly in February and March.
OPEC+ meeting Tuesday will seek to agree on extended production cuts
Crude oil prices have picked up by 25 percent since the beginning of the month and have returned to roughly their pre-pandemic levels.
Virus surge and new restrictions batter markets
Shutdowns also dampen demand for oil, which saw prices tumble more than 5 percent.
Stocks track US rout as rally hits roadblock, second virus wave appears
The optimism on trading floors was shattered when Federal Reserve boss Jerome Powell signalled the world's top economy would take some time to bounce back.
Stocks and oil rally as nations begin to slowly reopen
The easing of restrictions was providing a much-needed boost to oil markets.
Equities, crude surge in Asia on hopes for virus treatment
Officials warned that a return to normal would take time as overseas demand for exports remained limited.
US oil bounces after crash but Asia stocks suffer big losses
Oil markets have been ravaged this year after the pandemic was compounded by a price war between Saudi Arabia and Russia.
Oil prices collapse on storage fears, Asia equities mixed
Investors are keeping an eye on Washington, where Congress and the White House are working towards a $450 billion economic relief plan.
Trump says OPEC+ planning to cut production 20 mn bpd
After a Sunday videoconference, the top producers agreed to slash daily production by 9.7 million barrels from May.
Asia markets down as oil rallies on output cuts deal
The rally followed months of slumping prices after the COVID-19 outbreak sapped demand as countries around the world are under lockdown.
Asian markets lifted by hopes on virus but oil in retreat
Attention this week will be on a planned meeting of OPEC and other key crude producers.
Equity, crude prices rally but nerves persist after Black Monday
On currency markets the dollar fell back against high-yielding, riskier units after surging Monday.
Oil prices surge as Iranian tanker hit by double blast off Saudi
The explosions come just weeks after two of Saudi Arabia's biggest oil installations were hit
Oil Holds Huge Gains After Saudi Blasts; Fed Decision In View
Situation becomes more volatile as Trump awaits definitive information on who is responsible behind attacks.
$80-per-barrel oil possible this summer, warns investment bank
There seems to be enough market evidence to indicate $80 oil by the summer.
Oil Market Uncertainty Can Worsen Into A Crisis, Warns Expert
The prevailing uncertainty in the oil market abetted by OPEC production cuts, the U.S. sanctions on Venezuela oil and other factors can snowball into an energy crunch and impact oil price, warned an industry expert.
Higher Crude Prices Boost 'Big Oil' Profits To $80 Billion In 2018
Big Oil had a good year in 2018, helped mostly by higher oil prices.
A Texas-sized surge in oil production will hold prices down
With oil demand growth slowing, it's entirely possible that U.S. production alone will increase more than global demand in the next few years.
Europe v Trump: Iran signs oil deal with UK as John Bolton threatens sanctions
Tensions mount between Europe and Donald Trump's White House over Iran sanctions.
Iranian oil tanker burning in East China Sea after colliding with Chinese cargo vessel
32 crew members of the Iranian vessel Sanchi are missing while all those aboard the Chinese ship CF Crystal have been accounted for.
Saudi crown prince strikes again: 11 royals arrested for anti-regime protests
Eleven princes, who were not identified, were taken into police custody after they engaged in a sit-in protest outside a palace.
Saudi Arabia unveils the kingdom's largest budget in history promising to spend $293bn in 2018
Saudi Arabia's Crown Prince Mohammed bin Salman says the annual budget is chiefly aimed at improving the living standards of Saudi citizens.
Oil plunges from 2-year highs ahead of Opec meeting
Crude futures slide on perceived uptick in US production and Russian reluctance to go along with cartel.
BP sees quarterly profits double on higher oil prices
Oil and gas giant posts underlying replacement cost profit of $1.87bn in the third quarter, compared to a profit of $933m in the same period of 2016.