Oil falls further as IMF cuts forecast; Iran hints at $25 oil
Oil fell as much as 5 percent on Tuesday after the International Monetary Fund cut its 2015 global economic forecast on lower fuel demand and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action.
Jan 20, 2015, 23:10 PM IST
Iran seeks OPEC cooperation to stop oil price slump
Iran Monday sought cooperation among the member states of the Organisation of Petroleum Exporting Countries (OPEC) to prevent the global oil prices from falling further.
Jan 19, 2015, 23:24 PM IST
Oil prices edge up in Asian trade
US benchmark West Texas Intermediate for February, which dived $2.23 Thursday, was up 31 cents at $46.56.
Jan 16, 2015, 09:52 AM IST
Oil market tumbles after OPEC boosts output
The oil market tumbled Thursday after OPEC said it produced more oil in December than its limit, despite sharply falling prices, and lowered its global demand outlook for its crude.
Jan 16, 2015, 05:10 AM IST
Oil prices hit fresh lows since 2009
Oil prices slipped toward nearly six-year lows Tuesday after OPEC officials underscored the cartel`s resolve to not cut output despite a supply glut and plunging prices.
Jan 14, 2015, 03:01 AM IST
Ruble down around 5% against dollar on back of falling oil price
The Russian ruble on Tuesday plunged by around 5 percent against the dollar as global oil prices tumbled towards a six-year low.
Jan 13, 2015, 20:49 PM IST
OPEC cannot protect oil price: UAE
OPEC cannot protect world oil prices which have plunged since June, the United Arab Emirates said on Tuesday, arguing that rising North American shale oil output needed to be curbed.
Jan 13, 2015, 13:25 PM IST
OPEC price war in Asia intensifies as oil falls below $50
The United Arab Emirates (UAE) last week joined Kuwait and Iraq in pricing crude they sell to Asia below that of OPEC`s top producer Saudi Arabia.
Jan 12, 2015, 16:42 PM IST
Oil price to fall until major Asian manufacturers feel the benefit
Oil prices will continue to drop as high production meets weak demand and a strong US dollar pressures crude, and markets will only pick up once major manufacturing economies particularly in Asia feel the benefit of cheaper energy.
Jan 08, 2015, 23:27 PM IST
Brent oil drops under $50 per barrel for first time since 2009
European benchmark Brent oil sank under USD 50 per barrel on Wednesday for the first time since 2009, hit by OPEC`s production stance, oversupply, weak demand and the strong dollar.
Jan 07, 2015, 15:37 PM IST
Brent crude falls below $50 per barrel, lowest since May 2009
Oil prices hit fresh five-and-a-half-year lows on Wednesday as global business growth slowed to its weakest level in a year and analysts said a building supply glut meant that more falls were likely before a rebound.
Jan 07, 2015, 13:44 PM IST
US crude hits new 5-1/2-year low, falls below $49 per barrel
Oil prices sank to fresh 5-1/2-year lows on Tuesday, extending losses after a 5 percent plunge in the previous session as worries over a global supply glut intensified.
Jan 06, 2015, 16:39 PM IST
US crude oil slips below $50/barrel as glut fear deepens
The sell off in global oil markets showed little signs of slowing in the new year with US crude breaking below USD 50 a barrel, the first time since April 2009, on fears of a supply glut.
Jan 05, 2015, 22:40 PM IST
Oil hits new post-2009 low below $56 as supply glut prevails
Brent crude reversed early gains on Friday to fall to a fresh post-2009 low below $56 a barrel, as a glut of oil that has halved prices since June outweighed investors positioning at the start of the year for a possible eventual recovery.
Jan 02, 2015, 20:44 PM IST
Oil prices up in thin New Year trading
Oil prices rose on Friday in thin Asian trading during the first session of the New Year, as dealers welcomed a larger-than-expected drop in US crude stockpiles, analysts said.
Jan 02, 2015, 13:16 PM IST
Oil hits 5-1/2-year low below $57 on supply glut
Brent crude fell to a 5-1/2-year low of less than $57 a barrel on Tuesday as a global supply glut outweighed concerns of lost supply from Libya where battling militias have closed ports.
Dec 30, 2014, 15:32 PM IST
Brent drops toward $61 as dollar firms after strong US data
Brent futures fell toward $61 per barrel on Wednesday, giving up some of the previous session`s gains, as the U.S. dollar held near its highest level in nearly nine years on strong data.
Dec 24, 2014, 10:19 AM IST
OPEC won`t cut output even at $20 a barrel: Saudi Arabia
OPEC will not cut oil production even if the price drops to $20 a barrel and it is unfair to expect the cartel to reduce output if non-members do not, Saudi Arabia said.
Dec 23, 2014, 16:09 PM IST
Arab OPEC sources see oil back above $70 by end-2015
Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to stabilise in the medium term.
Dec 23, 2014, 13:49 PM IST
Oil edges higher ahead of fresh US economic data
Oil prices nudged higher in Asia today on hopes of improved US economy figures, but analysts said gains would be capped with dealers squaring positions for the end of the year.
Dec 23, 2014, 09:27 AM IST
