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14 Mar 2016

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.

26 Jan 2016

Oil prices rise on talk of Russia, OPEC coordination

Oil prices were lifted Tuesday by talk of possible coordination between Saudi Arabia and Russia to cut petroleum output.

04 Nov 2015

Oil prices sink on US energy report

In London late afternoon trade, Brent North Sea crude for December slid USD 1.59 to stand at USD 48.95 per barrel.

Global Oil Prices

12 May 2015

Global oil prices shoot higher

Global oil prices rebounded sharply on Tuesday on the falling greenback, which makes dollar-priced crude cheaper for buyers using stronger currencies.

Iraqi Oil Minister Adel Abdel Mahdi

01 Mar 2015

Iraq predicts oil will rise to $64-65 per barrel

Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to reach USD 64 or USD 65 per barrel.

15 Jan 2015

Oil market tumbles after OPEC boosts output

The oil market tumbled Thursday after OPEC said it produced more oil in December than its limit, despite sharply falling prices, and lowered its global demand outlook for its crude.

15 Jan 2015

Oil market slips as US crude reserves rebound

Oil slid Wednesday on news of soaring crude inventories in the United States, and after major producers stressed they will maintain output levels despite global oversupply.

16 Oct 2014

Oil prices hold steady

Oil prices steadied Friday as dealers squared positions after the previous day's bumper gains which were stoked by indications the OPEC cartel will cut its production target next year.

15 Oct 2014

Oil prices hit new depths on oversupply

Oil prices reached new multi-year low points Wednesday owing to a supply glut and weak global demand, before clawing back some ground as poor US retail data pressured the dollar.

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