Oil drops $2 to five-year low on oversupply
Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output.
Dec 08, 2014, 19:45 PM IST
Morgan Stanley slashes Brent price forecasts
The investment bank cut its average 2015 Brent base case outlook by $28 to $70 per barrel and for 2016, by $14 to $88 a barrel.
Dec 06, 2014, 08:52 AM IST
Oil market plumbs new five-year lows
Crude futures have now slumped by about 40 percent since June, faced also with cheaper oil being extracted from North American shale rock.
Dec 05, 2014, 23:56 PM IST
Crude falls below $69 per barrel as price rout rolls on
Brent crude slipped below $69 a barrel on Friday, on track to finish the week below $70 a barrel for the first time since 2010, as cuts to official selling prices from Saudi Arabia added to recent pressure.
Dec 05, 2014, 22:04 PM IST
OPEC chief says cartel facing `challenging` time
"This is a very challenging time as you know for OPEC and for the global crude oil wells as a whole," she told journalists in Abuja.
Dec 04, 2014, 09:01 AM IST
Oil producers pump more while urging OPEC cut: Kuwait
Kuwait on Wednesday accused oil-producing countries that had urged OPEC to cut its output, in a bid to curb sliding prices, of doing the opposite by pumping more crude.
Dec 03, 2014, 20:43 PM IST
Oil prices, manufacturing slump weigh on stocks
Brent crude for January sank to an October 2009 low of USD 67.53 a barrel before rebounding to USD 71.94 a barrel.
Dec 02, 2014, 00:23 AM IST
Asian markets mixed, oil prices sink further
Asian markets were mixed on Monday after China released data pointing to further weakness in the country`s manufacturing sector, while Tokyo hit a seven-year high as the yen slipped against the dollar.
Dec 01, 2014, 08:28 AM IST
Oil hits five-year lows in longest losing streak since 2008 crisis
Both US crude and Brent have fallen for five straight months, oil`s longest losing streak since the 2008 financial crisis.
Dec 01, 2014, 08:09 AM IST
China strikes rich from falling oil prices
Reaping rich dividends from its Central Asia gas pipelines and falling oil prices, energy- hungry China has not only ensured its energy security but is set to save a whopping USD 30 billion from its oil bills this year, besides USD 47 billion worth of trade gains.
Nov 30, 2014, 18:26 PM IST
US crude down 10% post-OPEC, Brent breaks below $70
US crude tumbled 10 percent in its biggest one-day drop in more than five years on Friday, and benchmark Brent broke below $70 a barrel, as OPEC`s decision not to cut output sent oil traders and analysts scurrying to find a new trading floor.
Nov 29, 2014, 05:30 AM IST
Falling energy shares weigh on global equities, oil down
Crude oil tumbled on Friday, knocking down both energy-related shares and currencies after OPEC`s decision a day earlier not to cut output reinforced prospects of a worldwide oil supply glut.
Nov 29, 2014, 02:45 AM IST
Oil stocks sink; Dow, Nasdaq flat
Energy-related stocks were hammered Friday, leaving US stocks mostly flat in a holiday-shortened session, after OPEC decided not to cut production in response to lower crude prices.
Nov 29, 2014, 01:44 AM IST
Oil hits new four-year low post OPEC as glut looms
The sell-off continued on Friday with Brent reaching a low of $71.12, its weakest since July 2010. By 0945 GMT, Brent had recovered a little to trade around $71.90, down 68 cents.
Nov 28, 2014, 16:13 PM IST
Gold extends losses to third day as oil slumps
Gold extended losses into a third session on Friday, dropping to a one-week low, on expectations that plunging oil prices could sap inflationary pressure, curbing the metal`s appeal as a hedge.
Nov 28, 2014, 09:44 AM IST
Oil struggles in Asia after OPEC maintains output
Oil prices struggled in Asian trade today after the OPEC cartel refused to cut production despite a global glut that has sent prices slumping to four-year lows, with analysts warning of further falls by the end of the year.
Nov 28, 2014, 09:42 AM IST
Asia stocks mostly lower, oil extends losses after OPEC move
Asian markets mostly fell on Friday, with energy firms taking a dive as oil sat at four-year lows after the OPEC cartel ignored calls to cut production in response to plunging prices and a supply glut.
Nov 28, 2014, 08:30 AM IST
Brent near four-year low after OPEC decides against output cut
OPEC`s decision, which came after Saudi Arabia blocked calls from poorer members of the Organization of the Petroleum Exporting Countries to cut, led to a rout in oil prices on Thursday.
Nov 28, 2014, 08:21 AM IST
Rosneft's Sechin says oil could fall below $60/barrel next year
Russia`s most powerful oil official Igor Sechin said that oil prices could fall below $60 by mid-way through next year, speaking the same day OPEC met in Vienna and left its output targets unchanged.
Nov 28, 2014, 05:14 AM IST
OPEC keeps oil output on hold despite low prices
Reflecting its lessening oil clout, OPEC decided on Thursday to keep its output target on hold and sit out falling crude prices that will likely spiral even lower as a result.
Nov 28, 2014, 00:31 AM IST
