LONDON – Oil prices rose on Monday, reversing an earlier fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.…
LONDON – Several key OPEC members are leaning towards a bigger than previously expected oil output cut, four sources with knowledge of the talks said, as oil prices fell to $50 per barrel on fears the coronavirus outbreak will …
LONDON – Oil slipped towards $56 a barrel on Tuesday, falling for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.
Crude fell …
MOSCOW – Russian Energy Minister Alexander Novak said on Thursday there was a common understanding among global oil producers that it would now no longer make sense for OPEC and non-OPEC producers to meet before their planned gathering in …
LONDON – Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a U.S. move to cut more Venezuelan crude from …
MINERALNYE VODY, Russia – Russia said on Friday it needed more time to decide whether to join any additional oil output cut by OPEC, saying U.S. crude production growth would slow and global demand remained solid.
Energy Minister Alexander …
Russia’s reluctance to jump on board a bigger OPEC production cut may signal a potential fissure within the oil producer alliance, known as OPEC plus.
Led by Saudi Arabia, other OPEC producers and Russia were considering an emergency meeting …
OPEC+ officials gathered in Vienna for a second day of debate on the impact of the coronavirus, a process that could result in an emergency ministerial meeting where Saudi Arabia would push for an oil-production cut.
The price …
LONDON – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak.
Brent crude was up 93 cents, or 1.7%, …
KUWAIT CITY: Saudi Arabia and Kuwait have started preparation work to resume crude oil production from the Al-Khafji oil field jointly operated by the two countries, with initial output expected around the end of February, two industry sources …
Oil headed for its biggest monthly drop since May as Asia’s coronavirus spread, stoking concerns that demand for transportation fuels will shrink.
Futures were little changed in New York on Friday, after sliding to a five-month low on …
LONDON/MOSCOW/DUBAI – Saudi Arabia has opened talks with OPEC and allied oil producers about moving their upcoming OPEC+ policy meeting to early February from March, four OPEC+ sources said, after a swift slide in oil prices alarmed Riyadh.
Worries …
NEW YORK – Oil was mixed on Wednesday as worries about the impact of the coronavirus outbreak and swelling crude inventories in the United States weighed on prices, while talk that OPEC could extend oil output cuts provided support.…
ALGIERS – OPEC president Mohamed Arkab said on Monday he expects an outbreak of coronavirus in China to have little impact on the global oil market for now, but added that producers were ready to react to any new …
Adds comments from Opec source and updates China imports total
Dubai, 27 January (Argus) — Concern about the potential impact of the Chinese coronavirus outbreak on oil demand is putting mounting pressure on crude prices, outweighing Libyan supply disruptions …
SAO PAULO (Reuters) – Brazil’s Petrobras will price its largest share offering in a decade on Feb. 5, it said in a securities filing on Wednesday, through which development bank BNDES will seek to divest part of its stake …
South Korea sending troops to Strait of Hormuz
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LONDON – Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a …
Aramco raises $29.4B in world’s biggest initial public offering
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Oil prices yesterday dropped lower than the week’s opening price, as Brent slipped to $64.63 and WTI, $58.80 while Nigeria’s Bonny Light was $67.58 as at 4.27pm GMT.
The Organisation of the Petroleum Exporting Countries (OPEC), trimmed its …
Sempra LNG And Aramco Services Company Sign Interim Project Participation Agreement For Port Arthur LNG
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OPEC’s output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets.
Saudi Arabia, Iraq and the United Arab Emirates reduced production in December, the final month of …
NEW YORK – Oil prices were flat on Thursday, supported by signs of improving Washington-Beijing trade relations and rising tensions in the Middle East but pressured by a strong U.S. dollar.
Brent crude futures LCOc1 were unchanged at $66.00 …
The year 2019 got into its stride quickly in terms of final investment decisions as LNG Croatia, the state-owned company has sanctioned the construction of the floating liquefied natural gas terminal on the Island of Krk …
Oil prices are likely to hover around $63 a barrel next year, a Reuters poll showed on Tuesday, benefiting from deeper production cuts by OPEC and its allies, and hopes that a U.S.-China trade deal could jumpstart economic growth.…
Oil in New York headed for its biggest annual increase since 2016, as OPEC’s production cuts tempered supplies while a trade pact between the U.S. and China buoyed the outlook for demand.
West Texas Intermediate futures have climbed …
There have always been question marks over how OPEC and non-OPEC oil producers would exit their strategy of joint production cuts that have been in place since December 2016, in some form or the other with the participation of …
Oil prices moved higher on Friday following a larger-than-expected drop in U.S. crude inventories, although gains were capped as Russia downplayed output cuts.
Brent crude futures gained 23 cents to trade at $68.15 per barrel, its highest level since mid-September. …
