Oil set for record bear run as OPEC output grows
Oil fell below $49 a barrel on Friday and was on course for its seventh straight month of declines, the longest such bear run on record as a supply glut showed no signs of easing with OPEC increasing production in January.
Jan 31, 2015, 01:57 AM IST
Oil tumbles; US crude prices near 6-year low on record stockpiles
Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after the government reported record-high inventories in the United States that raised anxieties about the global oil glut that had pressured the market since last summer.
Jan 29, 2015, 02:17 AM 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 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
OPEC holds oil output level, triggering price collapse
OPEC on Thursday decided against cutting the amount of oil it produces despite a glut in global supplies, triggering a fresh collapse in crude prices.
Nov 27, 2014, 22:21 PM IST
Gulf states seek to block OPEC oil output cut
Gulf oil producers led by Saudi Arabia looked set on Thursday to block any cut in OPEC output, ignoring calls from poorer members of the exporters` group for action to halt a slide in crude prices.
Nov 27, 2014, 20:10 PM IST
Oil tumbles more than $6 to 4-year low as OPEC keeps output high
Brent crude oil fell more than $3 to a fresh four-year low under $75 a barrel on Thursday after OPEC decided not to cut production, despite a huge oversupply in world markets.
Nov 27, 2014, 18:53 PM IST
Saudi, UAE signal no push for OPEC oil cut
OPEC leader Saudi Arabia and fellow member the United Arab Emirates signalled on Wednesday they were unlikely to push for a major change in oil output at the group`s meeting this week to prop up prices that have collapsed by a third since June.
Nov 26, 2014, 21:17 PM IST
OPEC looks for help to tackle oil supply glut
OPEC needs non-cartel members to help address an oil supply glut that is set to grow next year, Iran`s oil minister said here Wednesday.
Nov 26, 2014, 19:45 PM IST
Brent oil slips towards $81/barrel, near four-year low
Brent crude slipped near $81 a barrel on Wednesday, hovering just above a four-year low as the growing oil glut created by the US shale boom continued to outweigh concerns about supplies from Libya.
Nov 12, 2014, 18:01 PM IST
