A dive in oil prices sent stock markets lower on Monday after producers meeting in Qatar failed to agree on a plan to curb global supply, quashing the more optimistic tone which prevailed for much of the past week. Japan’s Nikkei index led the way, tumbling more than 3 percent ... Read More »
Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel. Tensions between Saudi Arabia and Iran were blamed for the failure, which revived ... Read More »
DOHA – A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices. The development will revive oil industry fears that major producers are ... Read More »
WASHINGTON, April 15 — With new offshore rules in place, a U.S. energy group said jobs and safety are at risk, though environmentalists said the BP spill in 2010 was still impactful. The Interior Department’s Bureau of Safety and Environmental Enforcement released new rules aimed at preventing loss of life ... Read More »
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. The International Energy Agency slightly trimmed its estimates for 2016 global demand growth from last month to ... Read More »
NEW YORK, April 12 —Anticipation over a weekend meeting in Doha on a possible oil production freeze overshadowed a subdued IMF report, giving oil prices a lift early Tuesday. Russian Energy Minister Alexander Novak said he was “optimistic” that major producers gathering for a weekend meeting in Doha would hold ... Read More »
SINGAPORE: Crude futures jumped on Wednesday as hopes for an agreement among exporters to freeze output underpinned the market, although persistent global oversupply and Iran’s plans to boost production pressured physical oil prices. Oil futures recovered from one-month lows to end the previous session up after the Kuwaiti governor for ... Read More »
NEW YORK, April 4 — Crude oil prices drifted marginally lower in early Monday trading after Iran said it was preparing to put more of its petroleum products on the global market. Crude oil prices suffered one of the worst days of the year Friday after Saudi officials said they’d ... Read More »
NEW YORK, April 4 — Crude oil prices drifted marginally lower in early Monday trading after Iran said it was preparing to put more of its petroleum products on the global market. Crude oil prices suffered one of the worst days of the year Friday after Saudi officials said they’d ... Read More »
COPENHAGEN, Denmark, April 1 — Danish oil company Maersk said it would manage its U.S. assets in the Gulf of Mexico from Copenhagen as it moves to shut down its offices in Houston. Directly employing about 60 people in Houston, Maersk said it was closing its offices in Houston in ... Read More »
NEW YORK, April 1– Oil prices took one of their biggest hits of the year Friday as pressure from Riyadh’s response to a production freeze was doubled by weak U.S. labor figures. Mohammed bin Salman, the deputy crown prince of Saudi Arabia, poured water on a fire set by talks ... Read More »
NEW YORK, March 30 — A soft build in U.S. crude oil stocks was buffered by a report showing domestic well costs have declined, sending oil prices higher early Wednesday. Crude oil prices plummeted Tuesday as supply-side strains added to concerns emerging before U.S. Federal Reserve Chair Janet Yellen took ... Read More »
