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OilPrices

Why has OPEC-led deal failed to energize oil prices?
Business 5 years ago

Why has OPEC-led deal failed to energize oil prices?

Global oil traders have shrugged off Sunday's historic output-cutting deal by OPEC and its allies, with prices languishing not far from recent two-decade lows.
Trump says OPEC+ planning to cut production 20 mn bpd
Business 5 years ago

Trump says OPEC+ planning to cut production 20 mn bpd

Top global oil producers are considering slashing output by 20 million barrels a day under the terms of a deal to boost prices, US President Donald Trump said.
OPEC, allies consider output cut after price crash
Business 5 years ago

OPEC, allies consider output cut after price crash

Top crude producers will on Thursday hold a crucial teleconference to discuss a possible cut in output after a collapse in demand caused by the coronavirus and a damaging Saudi-Russia price war caused a crash in the market.
Saudi to host G20 energy ministers' meeting on Friday
Business 5 years ago

Saudi to host G20 energy ministers' meeting on Friday

Saudi Arabia will host a virtual meeting Friday of energy ministers from the Group of 20 major economies in a bid to ensure "market stability" amid a coronavirus-led slump in crude prices.
ExxonMobil latest petroleum giant to slash oilfield spending
Business 5 years ago

ExxonMobil latest petroleum giant to slash oilfield spending

ExxonMobil announced Tuesday it will slash its budget by 30 percent for oilfield projects as the petroleum industry reels from sharply lower demand due to the coronavirus.
Oil prices fall as doubts grow over output cut deal
Business 5 years ago

Oil prices fall as doubts grow over output cut deal

US benchmark West Texas Intermediate plunged eight percent at the open in Asia but clawed back some ground and was trading 5.7 percent lower, at $26.72 a barrel. 
Saudi Arabia seeks urgent OPEC+ meeting to stabilize oil market
Business 5 years ago

Saudi Arabia seeks urgent OPEC+ meeting to stabilize oil market

Leading world crude exporter Saudi Arabia on Thursday made a surprise call for a meeting of the OPEC+ oil producers to "stabilize the oil market" amid a price war.
Oil soars after Trump says Saudis and Russians to cut output
Business 5 years ago

Oil soars after Trump says Saudis and Russians to cut output

Oil prices soared on Thursday after US President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut.
Oil prices volatile as virus saps demand
Business 6 years ago

Oil prices volatile as virus saps demand

Oil prices were mixed in volatile Asian trade on Monday, but remained at multi-year lows due to the double shock of the coronavirus pandemic and the Saudi-Russia price war.
Oil slumps to lowest since 2003 on global recession threat
Business 6 years ago

Oil slumps to lowest since 2003 on global recession threat

Futures in New York fell as much as 2.8 percent in the Asian morning, touching as low as $26.20 a barrel, which would be the lowest settlement price since May 2003. Prices clawed back some of their initial losses but remain more than 15 percent weaker this week in the most volatile trading on record.
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