Business / Energy

Oil prices rise on expected Russia-Saudi meeting 16 Feb 2016 - 08:41 am

Singapore: Oil prices rose on Tuesday with Brent breaking past $34 a barrel on expectations that energy heavyweights Russia and Saudi Arabia will...

Oil extends rally on prospects OPEC could act to counter low prices 15 Feb 2016 - 03:28 pm

A motorist fills his car with gas February 12, 2016 in Oklahoma City, Oklahoma. (J Pat Carter/Getty Images/AFP) By Karolin Schaps LONDON: Oil...

OPEC members increasingly keen to end oil glut: Nigeria oil minister 15 Feb 2016 - 10:04 am

Nigerian Oil Minister Emmanuel Ibe Kachiwku speaks during an interview in Abuja, Nigeria, February 12, 2016. Reuters/Afolabi Sotunde By Julia Payne ABUJA: The...

Oil gives up gains as Iran loads shipment for Europe 15 Feb 2016 - 08:34 am

Singapore: Oil prices turned lower again Monday after soaring at the end of last week as Iran prepared to ship its first consignment...

BP extends scope of Khazzan gas field development in Oman 15 Feb 2016 - 12:00 am

Signage for a BP petrol station is pictured in London, in this file picture taken July 29, 2014. Reuters/Luke MacGregor/Files LONDON: Britain’s BP...

Dubai Petroleum says gas leak occured at Fateh oilfield Thursday, operations now resumed 13 Feb 2016 - 03:22 pm

ABU DHABI: Dubai Petroleum said on Saturday a gas leak had occurred at its offshore Fateh oilfield on Thursday but that the situation...

Iran exporting 1.3mln bpd of crude, set to increase: Shana 13 Feb 2016 - 01:03 pm

Dubai: Iran is exporting 1.3 million barrels a day (bpd) of crude oil, and will be pumping 1.5 million barrels a day by...

Oil jumps 12 percent from 12-year lows on renewed OPEC cut hopes 13 Feb 2016 - 12:00 am

BY BARANI KRISHNAN NEW YORK: U.S. crude prices jumped 12 percent on Friday after a report once again suggested OPEC might resort to...

Venezuela proposes OPEC, non-OPEC producers “freeze” oil supply 11 Feb 2016 - 05:06 pm

By Rania El Gamal, Alex Lawler and Dmitry Zhdannikov DUBAI: Some OPEC countries are trying to achieve a consensus among the group and...

US oil prices dive below $27 a barrel 11 Feb 2016 - 08:21 am

Singapore: US crude tumbled below $27 a barrel in Asia Thursday as the oversaturated market struggled to cope with high inventories in the...

OPEC points to larger oil surplus in 2016 as it pumps more 10 Feb 2016 - 02:45 pm

LONDON: OPEC pointed to a larger oil supply surplus on the world market this year than previously thought as Saudi Arabia and other...

US crude rebounds in Asia but supply glut worries weigh 10 Feb 2016 - 08:22 am

Singapore: Oil prices rebounded on bargain-buying in Asia Wednesday after the previous day's plunge but analysts warned any gains would be limited as...

Goldman sees more oil swings that could drag price below $20 09 Feb 2016 - 04:36 pm

A pump jack is seen near sunflowers in Guthrie, Oklahoma in a September 15, 2015 file photo. By Grant Smith and Jonathan Ferro...

IEA sees global oil glut worsening, OPEC deal unlikely 09 Feb 2016 - 12:12 pm

By Dmitry Zhdannikov LONDON: The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC...

Oil tumbles after Saudi-Venezuela talks, WTI below $30 09 Feb 2016 - 12:00 am

New York: Crude oil prices slid lower Monday, pushing US oil below $30 a barrel, after weekend talks between OPEC kingpin Saudi Arabia...

Crude oil slips as Saudi, Venezuela meeting yields little 08 Feb 2016 - 01:21 pm

A man and vehicles are reflected in a price display at a gas station in Tokyo August 26, 2015. Reuters By Ahmad Ghaddar...

Oil prices dip as supply fears offset Saudi-Venezuela talks 08 Feb 2016 - 09:04 am

Tokyo: Crude prices edged down in Asia on Monday as worries about the ongoing supply glut offset news that the oil ministers of...

Saudi, Venezuela talk of OPEC, non-OPEC cooperation to stabilise oil market: SPA 07 Feb 2016 - 04:29 pm

DUBAI: Saudi Arabia’s oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilise the global oil market with...