Oil prices slump to one month low amid trade row
Oil traded near the lowest level in a month as concerns that economic turmoil could slow global demand outweighed expectations for a seasonal decline in U.S. crude stockpiles. Prices in…
Oil prices fall on Trump’s tweet
Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for crude. The escalating trade row between Washington and Beijing, which…
Donald Trump lashes Saudi Arabia for drop in Iran’s oil supply
July 2, 2018 President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to…
Why we increased oil production – OPEC
The Secretary-General of OPEC, Mr Muhammad Barkindo, has dismissed suggestions that pressure by Mr Donald Trump, US President, played a role in OPEC’s decision to increase oil production. Barkindo said…
OPEC strives for oil deal as Iran insists on modest output rise
June 21, 2018 OPEC’s leader Saudi Arabia and Russia were trying on Thursday to convince fellow oil producers to raise output from July to meet rising global demand, with Iran…
Crude rallies to $80 first time in 4 years
Crude rallied to $80 a barrel in London for the first time since late 2014 amid signals that stockpiles of excess oil will continue shrinking around the world. Futures contracts…
OPEC cooperation with non-members on cutting crude production cost is transformative – Barkindo
February 19, 2018 Mr Mohammed Barkindo, the Secretary-General of the Organisation of Petroeum exporting Countries (OPEC), on Monday declared that the organisation’s decision to cooperate with non-members in cutting crude…
Oil rises as OPEC compliance eclipses boom in US output
February 1, 2018 Oil prices rose on Thursday after a survey showed OPEC’s commitment to its supply cuts remains in place. Brent April crude futures were up 53 cents on…
Nigeria loses billions of dollars in gas flaring to bad law: seeks amendment
Nigeria plans to make gas flaring more costly for companies that have escaped the payment of billions of dollars despite being fined, Nigerian Finance Minister Kemi Adeosun said. In the…
Again, Oil prices rise to $70 amid OPEC cuts
Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the…