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Global Oil Prices News
Global Oil Prices
Saudi Aramco hires UBS, Deutsche as bookrunners for its IPO: Sources
Sat, Sep 21, 2019
Aramco finalised nine banks for top roles as global coordinators in recent weeks, Reuters has reported. More banks are expected to be named in junior roles, the sources said.
Oil slips on trade fears but soars in week after Saudi production attacked
Sat, Sep 21, 2019
US shale producers pounced on the chance to lock in future revenue for this year and next after oil prices surged by the most in 30 years early this week following the attack, sources familiar with the money flows said.
Oil price jumps nearly 15% in record trading after attack on Saudi facilities
Tue, Sep 17, 2019
Brent crude, the international benchmark, settled at $69.02 a barrel, rising $8.80, or 14.6%, its biggest one-day percentage gain since at least 1988. Brent futures saw more than 2 million contracts traded, an all-time daily volume record, Intercontinental Exchange spokeswoman Rebecca Mitchell said.
Oil prices rise on European stock draw despite demand slowdown forecast
Sat, Aug 10, 2019
The IEA said global oil demand to May from January grew at its slowest since 2008, hurt by mounting signs of an economic slowdown and a ramping up of the U.S.-China trade war.
Oil slumps to seven-month low on global trade tensions, surprise US stock build
Wed, Aug 07, 2019
The oil markets extended losses after government data showed that U.S. crude stockpiles rose unexpectedly last week, increasing 2.4 million barrels, compared with analysts` expectations for a decrease of 2.8 million barrels.
WTI Crude: Oil prices dip on fourth straight day
Thu, Jul 18, 2019
Oil prices fell on Thursday, extending declines into a fourth day, after official data showed US stockpiles of products like gasoline rose sharply last week.
WTI Crude: Oil prices nosedive 3% on ease in US-Iran tension
Wed, Jul 17, 2019
Oil prices turned lower on Tuesday, falling more than 3% after US President Donald Trump said progress has been made with Iran, signalling tensions could ease in the Mideast.
WTI Crude: Oil slips for a second straight day as US Gulf of Mexico output returns
Tue, Jul 16, 2019
WTI Crude: Oil prices fell for a second day on Tuesday as more production facilities returned to operation in the US Gulf after Hurricane Barry swept through over the weekend.
Storm Barry cuts 73 pct of US offshore oil production: US government
Mon, Jul 15, 2019
Tropical Storm Barry has cut 73%, or 1.38 million barrels per day (bpd), of crude oil production in the US-regulated areas of the Gulf of Mexico, the US BSEE said.
US-Iran tension: Oil prices dip on signs of slowing American demand, economic concerns
Thu, Jul 04, 2019
US inventories fell less than expected as U.S. refineries last week consumed less crude than the week before and processed 2% less oil than a year ago, the EIA data showed, despite being in the midst of the summer gasoline demand season.
Oil prices dip on demand worries despite OPEC cut extension till March 2020
Tue, Jul 02, 2019
OPEC is slated to meet with Russia and other producers, an alliance known as OPEC+, later on Tuesday to discuss supply cuts amid surging US output.
Oil prices fall as US stockpiles rise, but Middle East tensions support
Wed, May 15, 2019
Crude inventories climbed by 8.6 million barrels in the week to May 10 to 477.8 million, compared with analyst expectations for a decrease of 800,000 barrels.
Oil prices rise to highest level since November 2018; Check reasons
Mon, Feb 18, 2019
The Organization of the Petroleum Exporting Countries (OPEC), as well as some non-affiliated producers like Russia, agreed late last year to cut output by 1.2 million barrels per day (bpd) to prevent a large supply overhang from swelling more.
Saudi 2019 budget boosts spending in bid to spur sluggish economy
Tue, Dec 18, 2018
The economy shrank last year and, although the government estimates it grew 2.3 percent in 2018, that is much slower than the boom years early this decade - and not enough to put much of a dent in a record jobless rate of 12.9 percent among Saudis.
Oil hits 2018 lows on emerging supply glut, OPEC expected to cut
Fri, Nov 23, 2018
Oil prices slumped to 2018 lows on Friday in choppy trading, pulled down an emerging crude supply overhang amid a bleak economic outlook.
Diesel price hits record high of Rs 69.46 a litre, petrol inches towards Rs 78 mark
Mon, Aug 27, 2018
Diesel prices today hit a record high of Rs 69.46 per litre while petrol rates inched towards Rs 78 a litre mark after a fall in rupee made imports costlier.
Oil stable as U.S.-China trade row weighs, Iran sanctions cut supply outlook
Mon, Aug 27, 2018
Oil prices dipped slightly on Monday on concerns that a U.S.-China trade dispute will erode global economic growth, although looming U.S. sanctions against Iran`s oil sector kept crude from falling further, traders said.
Oil gains after surprise drop in Saudi crude output
Mon, Aug 06, 2018
Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, two OPEC sources said on Friday, down about 200,000 bpd from a month earlier. That came despite a pledge by the Saudis and top producer Russia in June to raise output from July, with Saudi Arabia promising a "measurable" supply boost.
Oil prices fall on concerns of oversupply, low investment
Wed, Aug 23, 2017
Oil prices fell early on Wednesday, squeezed between concerns of oversupply, sparked by rising Libya output, and fears of reduced future investment in the industry.
Oil prices pinned near five-month low as supply glut weighs
Fri, May 05, 2017
"So far OPEC`s strategy to draw down inventories has not worked ... It seems obvious to us that OPEC will need to keep the cuts in place for longer than the next 6 months if their strategy is to have any chance of success," Neil Beveridge, senior oil and gas analyst at AB Bernstein in Hong Kong said in a note to clients on Friday.