Oil slides as Saudi Naimi tells market to forget OPEC cuts
Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia`s powerful oil minister said OPEC would not cut production at any price.
Dec 23, 2014, 05:29 AM IST
Oil prices likely to rebound in second half of 2015: Poll
Crude oil prices are likely to bottom out in the first half of 2015, until a possible slowdown in U.S. shale production counters a supply glut exacerbated by OPEC`s decision not to cut output, a Reuters monthly survey showed.
Dec 22, 2014, 21:35 PM IST
Oil markets face uncertain future as OPEC targets competitors
A supply glut, lower demand and the stronger US dollar have all contributed to pushing down oil prices, which have dropped nearly 50 percent since June to around $60 a barrel.
Dec 22, 2014, 17:55 PM IST
Gulf oil producers stand firm on OPEC output
Oil-rich Arab Gulf countries stood firm against non-OPEC crude producers on Sunday, vowing they will not cut output nor hold an emergency cartel meeting to support slumping prices.
Dec 21, 2014, 22:41 PM IST
'Irresponsible' non-OPEC output behind oil price plunge: UAE
"Irresponsible" levels of output by producers from outside the OPEC oil cartel is among the main causes of the slump in prices, the United Arab Emirates energy minister charged Sunday.
Dec 21, 2014, 17:37 PM IST
Brent oil spirals below $60 in volatile week
Brent oil prices plummeted this week to five-year lows underneath $60 per barrel as markets were rocked by shrinking Chinese manufacturing output, economic turmoil in Russia and ample crude supplies.
Dec 19, 2014, 23:58 PM IST
Oil rebounds in volatile year-end trade
Oil prices edged up in Asia today after falling sharply in the previous session, as analysts predicted increased volatility and no end in sight this year to tumbling prices.
Dec 19, 2014, 10:52 AM IST
Oil rises 2% to $62 as energy firms slash investments
Oil this week slumped as low as $58.50 and has almost halved since June as fast-growing US shale output overwhelms demand, with losses accelerating after producer group OPEC decided not to cut output at its meeting last month.
Dec 18, 2014, 20:18 PM IST
Oil surges in about-face as some bet sub-$60 Brent won''t last
World oil prices burst nearly 5 percent higher on Wednesday as weeks of nearly non-stop selling abruptly reversed course, with traders betting that a failure to break below key chart support levels signalled a long rout may be running out.
Dec 18, 2014, 02:20 AM IST
Oil holds below $60 as OPEC, Russia keep pumping
Brent crude held below $60 a barrel on Wednesday, near 5-1/2-year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe.
Dec 17, 2014, 18:29 PM IST
Oil hits new five-year low before rallying to $63
Brent crude hit a fresh five-year low close to $60 a barrel on Monday after oil producer group OPEC restated its determination not to cut output despite a global fuel glut, but the North Sea benchmark later rallied to trade around $63.
Dec 15, 2014, 15:28 PM IST
OPEC chief says no target price, but oil slide beyond fundamentals
The head of OPEC said on Sunday the group had no target price for oil, signalling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets.
Dec 14, 2014, 19:05 PM IST
Market fundamentals don't justify oil price freefall: OPEC
The rise in oil supplies on global markets does not justify the sharp drop in crude prices, a top OPEC official said Sunday, arguing speculation might be a contributor.
Dec 14, 2014, 18:30 PM IST
Oil sinks below $63 to lowest in over 5 years on glut, weak demand
Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for demand growth in 2015 and predicted that healthy non-OPEC supply gains were poised to aggravate the glut.
Dec 12, 2014, 18:17 PM IST
Oil hits 5-1/2 year low of $63 per barel on supply glut, demand woes
Brent crude continued its march downwards on Friday, dropping to a 5-1/2-year low of $63 a barrel for a weekly loss of more than 8 percent, amid persistent concerns over a global supply glut and a bearish demand outlook.
Dec 12, 2014, 13:50 PM IST
OPEC cuts 2015 demand forecast for its oil to lowest in a decade
Global demand for OPEC crude in 2015 is expected to fall to the lowest level in more than a decade and far below current output, the group said.
Dec 11, 2014, 10:26 AM IST
Asia down as oil fall hits risk sentiment, dollar struggles
Asian stocks fell on Thursday as falling oil prices continued to feed into global growth concerns, while the dollar struggled against peers such as the yen and euro after a further drop in US bond yields.
Dec 11, 2014, 08:56 AM IST
Oil prices rebound in Asia
Oil prices rebounded in Asia on Thursday after falling sharply to fresh five-year lows in the previous session after OPEC cut its forecast for demand 2015 and US stockpiles saw a surprise surge, analysts said.
Dec 11, 2014, 08:50 AM IST
Oil falls below $66 as OPEC trims 2015 demand forecast
Brent crude oil slipped below $66 a barrel on Wednesday, just above a five-year low, as producers forecast lower demand for their oil next year.
Dec 10, 2014, 18:29 PM IST
Oil hits five-year low below $66 on oversupply worries
Benchmark Brent crude slipped again on Tuesday to its lowest in five years, dropping below $66 a barrel after plunging more than 4 percent the day before on worries of a swelling supply glut.
Dec 09, 2014, 14:06 PM IST
