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Qatar says too early to exit OPEC oil cuts as investment still low
Thu, Apr 05, 2018
OPEC and its allies led by Russia have reduced production since the start of 2017 to ease a global oil glut stemming from the U.S. shale oil boom that saw oil prices crashing to below $30 per barrel and investment in the oil sector falling by over $1 trillion in the past three years. OPEC`s production restraints have helped cut global oil stocks in industrialised nations from as high as 350 million barrels to as low as 50 million barrels, Sada said.
Oil hits highest in nearly two weeks on Asian equity recovery
Mon, Feb 19, 2018
The US oil rig count, an indicator of future production, rose by seven to 798, its highest since April 2015, according to a weekly report from General Electric`s Baker Hughes unit.
How soaring US oil exports to China are transforming the global oil game
Fri, Feb 09, 2018
Bit by bit, the US petroleum industry is turning world oil markets inside out.
Oil prices fall as soaring US output mars OPEC bid to tighten markets
Thu, Feb 08, 2018
In fact, the OPEC-led restraint was arguably the biggest enabler for America`s production boom, handing over market share at higher oil prices.
Oil falls below $69 as stronger dollar dents risk assets
Tue, Jan 30, 2018
European stock markets were firmly in negative territory after a recovering dollar and a drop in shares of Apple sent Wall Street to its largest one-day fall in five months the previous day.
Oil hits $71 for first time since 2014 on tighter supply and weak dollar
Thu, Jan 25, 2018
The Organization of the Petroleum Exporting Countries and allies including Russia began to curb supplies in 2017.
Oil hits highest since late 2014 on U.S. crude inventory drop, weaker dollar
Thu, Jan 25, 2018
Oil prices on Thursday hit their highest since December, 2014, pushed up after U.S. crude inventories posted a 10th straight week of declines and as the dollar continued to weaken.
Russia may back Aramco IPO, enhance OPEC ties
Tue, Jan 23, 2018
Sources told Reuters last year Chinese state oil companies were willing to become cornerstone investors in the Aramco IPO which could become the world`s biggest, valuing the firm at up to $2 trillion and raising more than $100 billion.
India sees scope for more integration among state energy companies
Tue, Jan 23, 2018
ONGC`s purchase of a majority stake in HPCL is expected to close by the end of this month and Pradhan said there was a possibility to combine HPCL with ONGC`s petrochemical projects and its refining arm Mangalore Refinery and Petrochemicals Ltd.
India's oil ministry seeks cut in excise duty on petrol, diesel in budget
Mon, Jan 22, 2018
India`s oil ministry is pushing for a cut in excise duty on petrol and diesel in the upcoming 2018/19 budget to cushion the impact of rising oil prices on its vast consumer base, two oil ministry officials told Reuters on Monday.
Modi invites Israeli defence companies for co-production
Mon, Jan 15, 2018
The two countries also inked 9 pacts to boost cooperation in key areas such as cyber security and gas and oil
Oil near three-year highs on output cuts despite rising North American rig count
Mon, Jan 15, 2018
Oil prices held just below December 2014 highs on Monday, supported by ongoing output cuts led by OPEC and Russia despite a rise in U.S. and Canadian drilling activity that points to higher future output in North America.
Oil dips away from levels last seen in late 2014, but analysts say market supported
Fri, Jan 12, 2018
Oil prices eased on Friday after hitting their highest levels since December, 2014 the previous day.
Global Markets: BoJ's tweak buoys yen, stocks rally rumbles on
Tue, Jan 09, 2018
A tweak to the Bank of Japan’s bond-buying programme caused the yen to rise on Tuesday, while gains from commodity stocks as oil hit its highest since 2015 helped world shares maintain their flying start to the year.
Global Markets: Oil, metals rally supports Asian stocks, dollar steady
Wed, Dec 27, 2017
A rally in commodities prices to multi-year peaks pushed resource-linked stocks and currencies higher in Asia on Wednesday, as bullish views on Chinese demand helped copper while supply concerns propped up oil.
Oil rises on UK pipeline outage but US supply caps gains
Tue, Dec 19, 2017
Oil edged up towards $64 a barrel on Tuesday, helped by a North Sea pipeline outage, OPEC-led supply cuts and jitters about threats to Middle East supplies after a missile was fired by a Yemeni group at the Saudi capital.
Oil gains on pipeline outage tempered by robust U.S. output
Mon, Dec 18, 2017
Oil prices edged higher on Monday, supported by a North Sea pipeline outage and a workers` strike in the Nigerian energy industry. Still, growth in U.S. crude output cast a shadow over the market and continued to cap gains.
Brent crude prices near 2015 high after North Sea pipeline disruption
Tue, Dec 12, 2017
Brent crude oil prices were near 2015 highs on Tuesday after the unplanned closure of a major North Sea pipeline for repairs, knocking out significant supplies from a market that was already tightening due to OPEC-led production cuts.
Oil edges higher, anticipating another drawdown in U.S. stocks
Tue, Dec 05, 2017
Oil edged higher on Tuesday, supported by strong demand, expectations of a drop in U.S. crude inventories and an OPEC-led deal to extend oil output cuts.
Oil prices fall after US drillers add rigs
Mon, Dec 04, 2017
The latest agreement allows for producers to exit the deal early if the market overheats. Russian officials had expressed concern that extending the output cuts might encourage rival U.S. shale oil firms to pump more crude.