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Gulf OPEC members

01 Jun 2016

Gulf OPEC members seek to revive global oil output deal

Vienna: Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets on Thursday, a senior OPEC source said, but Iran signalled the country was not ready for any such pact.

08 Sep 2015

Weak economic outlook and oversupply weigh on oil markets

Japan`s economy shrank an annualised 1.2 percent in April-June, revised GDP data showed on Tuesday, despite ongoing government and central bank measures to support growth.

28 Aug 2015

Oil markets catch breath after biggest gains in six years

Crude oil futures were largely steady on Friday after posting their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies.

26 Aug 2015

Oil price near 6.5-year low as China economy fears linger

Crude oil futures held in a narrow band on Wednesday not far off 6-1/2 year lows after China`s central bank moved to support the country`s stumbling economy, while concerns about a supply glut capped gains.

25 Aug 2015

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.

21 Aug 2015

Oil dives below $40 per barrel, logs longest weekly losing streak in 29 years

US crude oil prices on Friday dove below USD 40 a barrel for the first time since the 2009 financial crisis, notching their longest weekly losing streak in 29 years.

20 Aug 2015

Five key reasons behind falling oil prices

Here are the 5 key reasons of oil price decline.

27 Jul 2015

Oil hits four-month low on China stocks tumble, supply worries

Crude oil futures hit four-month lows on Monday after a steep drop in China`s stock markets spread concerns about the economic health of the world`s biggest energy consumer, amid evidence of a growing crude glut.

30 May 2015

Oil up more than 1% after US inventory drop

Crude oil prices rose more than 1 percent on Friday after U.S. inventories fell for a fourth straight week, though a stronger dollar left prices set for a weekly drop.

15 Apr 2015

Oil market jumps on hopes of easing global supply glut

World oil prices shot higher Wednesday on forecasts that US shale production would likely drop and help ease a global supply glut, analysts said.

15 Apr 2015

IEA says oil supply boost may defer market tightening

The agency raised its forecast for global oil demand growth in 2015 for a second consecutive month, citing strong pockets of consumption in Europe, India and the United States.

22 Dec 2014

Oil markets face uncertain future as OPEC targets competitors

A supply glut, lower demand and the stronger US dollar have all contributed to pushing down oil prices, which have dropped nearly 50 percent since June to around $60 a barrel.

11 Dec 2014

Brent edges up toward $65, but Saudi stance on output curbs gains

Brent crude ticked higher on Thursday but remained below $65 per barrel, and not far above five-year lows hit in the previous session, with the market`s bearish tone largely intact.

01 Jul 2014

Losses on diesel more than double to Rs 3.40 a litre

With escalating violence in Iraq spooking international oil markets, losses on the sale of diesel have more than doubled to Rs 3.40 a litre even after monthly price increases.

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