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May 16, 2016, 21:47 PM IST
Moody's cuts Saudi Arabia rating on oil slump
Saudi Arabia suffered another cut to its credit rating on Saturday as Moody's Investors Service downgraded the kingdom along with Bahrain and Oman because of the slump in oil prices.
May 14, 2016, 18:49 PM IST
Saudi Arabia will only freeze output if others do
Saudi Arabia will only freeze the level of its oil production if all other major producers, including Iran, do so, Bloomberg reported on Saturday, citing Saudi deputy crown prince Mohammed bin Salman.
Apr 16, 2016, 18:31 PM IST
Oil falls as dark clouds appear ahead of producer meeting
Oil fell on Thursday as the International Energy Agency trimmed its forecast for demand growth and on signs that a producers` meeting this weekend will not yield a concrete plan to reduce oversupply.
Apr 14, 2016, 15:28 PM IST
Oil prices extend fall with no end in sight for glut
Oil prices were pulled down in early trading on Thursday as OPEC warned of slowing demand and major exporter Russia hinted that there would only be a loose agreement with little commitments at the upcoming exporter meeting to rein in ballooning oversupply.
Apr 14, 2016, 07:18 AM IST
OPEC cuts 2016 oil demand growth forecast, warns of more
OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year.
Apr 13, 2016, 21:09 PM IST
Oil hits 2016 high above $43 on producer meeting hopes
Oil rose above $43 a barrel to its highest level so far in 2016 on Tuesday, supported by hopes that a meeting of oil producers will agree steps to tackle a supply glut, and by a weak U.S. dollar and further signs of strong demand in China.
Apr 12, 2016, 17:18 PM IST
India links $20 billion investment in Tehran to favourable terms
Stepping up its energy ties with Iran, India has lined up USD 20 billion as investment in oil and gas as well as petrochemical and fertiliser projects in the Persian Gulf country subject to provision of concessional rights
Apr 10, 2016, 17:53 PM IST
Venezuela leader threatens to cut opposition legislature's term
Pro-government constitutional lawyer Hermann Escarra proposed that Maduro seek a constitutional amendment to reduce the assembly`s term from five years to 60 days.
Oil prices jump on expectation that producers will agree output freeze
International Brent futures rose 1.5 percent at $38.44 a barrel.
Oil falls as US crude stocks hit record for seventh week in a row
Oil futures fell in Asian trade on Thursday, with U.S. crude hitting the lowest level in more than two weeks, amid renewed worries of global oversupply after U.S. crude inventories rose to a record high.
Mar 31, 2016, 10:07 AM IST
Oil above $41 as OPEC predicts `moderate` rebound
Oil prices dipped slightly in Asia Tuesday but stayed above $41 a barrel as OPEC raised hopes of a moderate rebound from a meeting of key producers in Qatar in April.
Mar 22, 2016, 10:34 AM IST
Oil rises as producers announce meeting on output freeze
Oil prices firmed on Wednesday on an announcement that producers will meet next month in Qatar to discuss a proposal to freeze output and on growing signs of a decline in US crude production
Mar 16, 2016, 17:31 PM IST
Oil losses deepen on doubts over output freeze deal
World oil prices fell further today on doubts over a consensus between producer nations to limit output in an oversupplied market, dealers said.
Mar 15, 2016, 01:09 AM IST
OPEC output falls despite Iran return more crude
OPEC said Monday its oil production fell in February despite member Iran steadily increasing its output after international sanctions were lifted in January following a landmark nuclear deal.
Mar 14, 2016, 23:15 PM IST
Oil prices dip amid doubts about producer meeting
World oil prices dipped Thursday as doubts rose about whether key producers led by Russia and Saudi Arabia would meet this month to discuss crude output limits
Mar 11, 2016, 02:19 AM IST
Oil rallies to three-month high; analysts warn of glut
Brent crude hit a three-month high on Monday, extending gains that have lifted crude benchmarks by more than a third from this year`s lows on an improving global outlook and stronger sentiment for a market recovery
Mar 07, 2016, 18:39 PM IST
Oil likely to recover to $55 in 12 months: Report
Oil prices are likely to recover after 11-year low to USD 55 per barrel from the current USD 34 in 12 months, following gains in the latter half of 2016, according to a report.
Mar 04, 2016, 15:30 PM IST
"Social curse" of huge personal debt raises worries in wealthy Qatar
Credit cards on the limit, huge bank borrowings and a struggle to repay loans: these are the personal debt problems of some Qataris despite the Gulf state`s reputation for fabulous wealth.
Mar 04, 2016, 12:45 PM IST
Crude prices climb after U.S. oil output falls for 6th week
Crude futures rose in Asian trade on Friday, buoyed by renewed optimism prices may have bottomed out after official U.S. data showed oil production fell to its lowest level since November 2014.
Mar 04, 2016, 12:37 PM IST
