Oil prices returning to $80/barrel by 2020: OPEC
OPEC forecasts oil prices will grow by no more than $5 per barrel a year to reach $80 by 2020, with rival non-OPEC production growth slowing but not fast enough to fully clear the current oil glut, according to OPEC sources.
Sep 17, 2015, 23:30 PM IST
Oil prices edge up after sharp falls in previous session
Oil prices steadied early on Tuesday as traders closed short positions and took on new longs after markets tumbled in the previous session.
Sep 15, 2015, 07:26 AM IST
Venezuela announces $5-bn Chinese loan for oil sector
Venezuelan President Nicolas Maduro announced China has granted his government a $5-billion loan to boost oil output in the recession-hit OPEC state.
Sep 02, 2015, 21:15 PM IST
Oil jumps 8 percent, biggest three-day surge since 1990
Oil futures soared on Monday for a third consecutive day, rising more than 8 percent, as a downward revision of US crude production data and OPEC`s readiness to talk with other producers helped extend the biggest three-day price surge in 25 years.
Sep 01, 2015, 05:09 AM IST
Without Saudi support, talk of OPEC emergency meeting is just noise
Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices.
Aug 25, 2015, 23:16 PM IST
OPEC raises 2015 oil demand forecast despite bearish markets
In its August monthly report, the Organization of the Petroleum Exporting Countries said it was expecting world oil demand to grow by 1.38 million barrels per day -- some 90,000 more than announced in its July estimates.
Aug 11, 2015, 17:14 PM IST
Oil prices fall further on oversupply fears
US benchmark West Texas Intermediate (WTI) for September delivery was at USD 43.57, down from USD 43.87 on Friday in New York - its lowest close since March 17.
Aug 10, 2015, 10:45 AM IST
Oil falls below $45 per barrel, inches closer to 6-year low
Oil prices fell again Thursday in a glum market as the global oversupply of crude oil looked entrenched and demand prospects weak.
Aug 07, 2015, 01:41 AM IST
Oil prices fall after Saudis say could raise output to meet demand
Front month U.S. crude fell 28 cents to $60.49 a barrel by 0152 GMT. Brent futures were down 25 cents at $64.86 a barrel.
Jun 12, 2015, 12:56 PM IST
US becomes biggest oil producer in 2014, surpasses Saudi Arabia
The United States has overtaken Saudi Arabia as the world's biggest oil producer in 2014 while India has recorded the highest growth in energy consumption among major economies.
Jun 10, 2015, 18:21 PM IST
Oil slips after OPEC keeps output high, China slowdown
Oil prices fell on Monday on news of a slide in China`s fuel imports and as markets digested OPEC`s decision to maintain its production target, which analysts said could prolong a supply glut for the rest of the year.
Jun 08, 2015, 20:10 PM IST
OPEC agrees to keep pumping as oil glut fears persist
Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports.
Jun 05, 2015, 19:13 PM IST
Oil prices rise after OPEC keeps low output target
Oil prices rose on Friday, breaking a two-day losing streak, after OPEC ministers maintained their existing oil production target for another six months at a level below current output.
Jun 05, 2015, 18:00 PM IST
OPEC expected to keep status quo on oil output
However on Thursday, New York`s West Texas Intermediate (WTI) crude and London`s Brent oil both fell sharply for a second day as traders fretted that a no-change OPEC decision would further fuel the burgeoning global supply glut.
Jun 05, 2015, 10:09 AM IST
OPEC heads towards holding output; oil slips under $60
OPEC headed Thursday towards holding crude output levels on the eve of its production meeting, as oil prices slid back under $60 a barrel on concerns that the expected decision would further fuel oversupply.
Jun 04, 2015, 17:00 PM IST
India asks OPEC to stop charging premium from Asian buyers
Reiterating New Delhi's decade-old demand, Oil Minister Dharmendra Pradhan said the OPEC is not justified in asking Asian buyers to pay more so that transportation cost to distant consumers particularly in the West can be subsidised.
Jun 03, 2015, 22:03 PM IST
OPEC to continue pumping oil at current rate
OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year`s shock market therapy has revived demand and knocked back growing competition.
Jun 03, 2015, 20:47 PM IST
Oil market `comfortable` with violence risk: Saudi
Recent unrest in the Middle East and North Africa has little impact on oil prices because the market has become "comfortable" with risk, Saudi Arabia`s Oil Minister said Wednesday.
Jun 03, 2015, 18:32 PM IST
Oil prices down in Asian trade
WTI jumped USD 1.06 and Brent rose 61 cents yesterday after a sharp fall in the US dollar, which made dollar-priced crude cheaper for buyers using weaker currencies.
Jun 03, 2015, 10:28 AM IST
Oil prices jump to 2015 high on dollar`s sharp fall
A sharp fall in the dollar on improved eurozone economic data sent New York oil prices to fresh 2015 highs Tuesday, even as officials at OPEC defended their generous output strategy.
Jun 03, 2015, 04:18 AM IST
