IEA takes oil market bulls to the slaughterhouse

Oil prices may have rebounded off 12-year lows struck last month, but any hope for a broader recovery in the market would be misplaced, the IEA said Tuesday, noting OPEC is responsible for the latest glut of supplies on the market.

Oil slides to lowest since 2003 as Iran sanctions are lifted

Oil slides to lowest since 2003 as Iran sanctions are lifted

Oil prices hit their lowest since 2003 on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country at the weekend.

Oil options lurch closer to $20 per barrel Goldman doomsday forecast

When US investment bank Goldman Sachs said last year that oil could fall as low as $20 per barrel, it assigned a fairly low probability to that scenario.

 

Iran-Saudi crisis punches another hole in OPEC unity

Iran-Saudi crisis punches another hole in OPEC unity

Escalating diplomatic tensions between Iran and Saudi Arabia have added fresh strains on OPEC's unity as the cartel grapples with a common response to rock-bottom oil prices, experts said.

Saudi 2016 growth to dive as debt rises, reserves drop

Saudi economic growth is set to slow further in 2016 after the OPEC heavyweight announced record deficits due to the slump in oil prices.

Oil hits 11-year low on glut worries

Oil hits 11-year low on glut worries

European benchmark Brent crude slid to an 11-year low on Monday as oil prices resumed their slide in an oversupplied global market facing the prospect of renewed US exports.

 

Oil prices drop as OPEC output rises; Brent below $40 per barrel

European benchmark Brent oil for January delivery shed 38 cents to $39.73 a barrel in London. It was Brent`s first close below the $40 line since February 2009.

 

Oil prices rise but stay near multi-year lows

Oil prices crept higher Wednesday but still struggled near multi-year lows as analysts warned the weakness will continue past next year.

Oil prices near a 7-year low of $37 per barrel

Oil prices near a 7-year low of $37 per barrel

Oil prices resumed their slide on Tuesday, with U.S. crude falling below $37 per barrel for the first time since early 2009, amid fears the world was running out of capacity to store crude as a global glut intensifies.

Oil falls towards 2015 low on OPEC inaction, strong dollar

Oil prices edged closer to 2015 lows on Monday after OPEC`s meeting ended without a reference to its output ceiling and a stronger dollar made it more expensive to hold crude positions.

Venezuela opposition thrashes "Chavismo" to win legislature

Venezuela opposition thrashes "Chavismo" to win legislature

Venezuela`s opposition trounced the ruling Socialists on Sunday to win the legislature for the first time in 16 years and gain a long-sought platform to challenge President Nicolas Maduro`s rule of the OPEC nation. 

Iran insists on `right` to raise oil output: Minister

Iran insists on `right` to raise oil output: Minister

Iran will not bow to pressure to avoid increasing its oil output following the lifting of sanctions despite slumping crude prices, its oil minister insisted here on Thursday.

OPEC meets under oil supply glut cloud

OPEC gathers in Vienna this week to decide on whether to trim the cartel`s oil output faced with a global supply glut, sliding prices and weak demand growth.

Oil prices drop amid rising supplies

Oil prices fell on Tuesday as market expected that the US supplies continued to expand.

OPEC chief confident of a balanced oil market in 2016

OPEC chief confident of a balanced oil market in 2016

Venezuela -- which has been trying hard to persuade oil producers to cut output to boost prices -- said Thursday a technical meeting of OPEC and other crude-producing countries would take place on October 21.

Oil prices returning to $80/barrel by 2020: OPEC

OPEC forecasts oil prices will grow by no more than $5 per barrel a year to reach $80 by 2020, with rival non-OPEC production growth slowing but not fast enough to fully clear the current oil glut, according to OPEC sources.

Oil prices edge up after sharp falls in previous session

Oil prices steadied early on Tuesday as traders closed short positions and took on new longs after markets tumbled in the previous session.

Venezuela announces $5-bn Chinese loan for oil sector

Venezuelan President Nicolas Maduro announced China has granted his government a $5-billion loan to boost oil output in the recession-hit OPEC state.

Oil jumps 8 percent, biggest three-day surge since 1990

Oil futures soared on Monday for a third consecutive day, rising more than 8 percent, as a downward revision of US crude production data and OPEC`s readiness to talk with other producers helped extend the biggest three-day price surge in 25 years.

Without Saudi support, talk of OPEC emergency meeting is just noise

Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices.