16 Jun 17
Oil sits near half-year lows as global supply overhang weighs
11:02 AM
Oil prices were not far off six-month lows, held down by an ongoing supply overhang that persists despite an Opec-led effort to cut production and prop up crude markets.
15 Jun 17
Oil sinks more than 3.5% on shock US gasoline stocks build
06:59 AM
The increase in US gasoline inventories drove down RBOB futures by more than 4 per cent, tugging Brent and US crude futures lower with them, analysts said.
14 Jun 17
Oil prices fall on rising US crude stocks, Opec's output bump
02:20 PM
Oil prices fell on Wednesday after data showed a build in US crude stocks and the Organisation of the Petroleum Exporting Countries (Opec) reported a rise in its production despite its pledge to cut back on output.
07 Jun 17
Oil rebounds, finds support after sliding below $47/bb
01:56 AM
Oil prices edged upward Tuesday, finding technical support after sliding below $47 a barrel on pressure from a diplomatic rift in the West Asia and sustained high crude inventories in the United States.
06 Jun 17
Oil falls 1% on fears West Asia rift could harm Opec cuts
01:38 AM
Oil prices fell about 1 per cent on Monday on concerns that the cutting of ties with Qatar by top crude exporter Saudi Arabia and other Arab states could hamper a global deal to reduce oil production.
31 May 17
Oil falls as rising Libyan, US outputs undermine Opec-led cuts
03:09 PM
Oil prices fell by one per cent on Wednesday, as rising output from Libya added to concerns about increasing US production that is undermining the Organisation of the Petroleum Exporting Countries (Opec)-led production cuts aimed at tightening the
26 May 17
Oil prices falls 4% on Opec output cuts
05:39 AM
Opec produces a third of the world's oil. Its production reduction of 1.2 million bpd was made based on October 2016 output of around 31 million bpd, excluding Nigeria and Libya.
25 May 17
Oil prices dip 5% as Opec's production cuts fall short of expectations
10:44 PM
Oil prices fell nearly 5 per cent on Thursday as Opec's (Organisation of Petroleum Exporting Countries) decision to extend production curbs fell short of expectations of deeper or longer cuts.
24 May 17
Oil prices rise as market expects extended output cut led by Opec
01:43 PM
Oil prices rose on Wednesday, supported by a confidence that the Organisation of the Petroleum Exporting Countries (Opec)-led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year.
23 May 17
UAE heads to OPEC, backs oil output cut extension
12:46 PM
The United Arab Emirates supports extending oil output cuts for another term, Energy Minister Suhail bin Mohammed al-Mazroui said on Tuesday, saying ahead of an OPEC meeting he was optimistic about meetings held between Saudi Arabia and Russia.
Stop charging premium from Asian buyers: India to Opec
01:21 AM
India on Monday once again asked Organization of the Petroleum Exporting Countries (Opec) to stop charging the premium from its Asian buyers saying oil producers should not subsidise others at the expense of countries like India.
09 May 17
Oil curbs could extend beyond 2017, says Saudi Arabia
06:17 AM
Saudi Arabia’s oil minister said he’s confident that an agreement by producers to curb crude output and shrink a market glut will be extended into the second half of the year and possibly beyond.
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