Crude oil keeps head above water

Crude oil futures were trading marginally higher during the afternoon trade in the domestic market on Monday as investors and speculators extended their positions in the energy commodity after OPEC and other major producers, last week, extended their current deal to limit oil production for 9 months.

However, a constant rise in the US drilling undermined an OPEC-led push to tighten su

Oversold: Oil traders punish OPEC for promising too much

By Dmitry Zhdannikov, Rania El Gamal and Ernest Scheyder

VIENNA - As OPEC's latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt, a success.

But two hours later, one veteran delegate was staring in despair at the numbers flashing red on his sma

29/05/2017 11:55:16 AM | Posted in Commodity Top News read full news
Oil falls as U.S. drilling undermines drive to tighten markets

By Henning Gloystein

SINGAPORE  - Oil prices fell on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply.

Trading activity will be subdued on Monday due to public holidays in China, the United States and Britain.

Brent crude futures were trading down 15 cents, or 0.3 percent, at $52.00 per barrel at 0253

Oil rebounds but ends week lower as OPEC cuts disappoint

By Julia Simon

NEW YORK - Oil prices rebounded to rise more than 1 percent on Friday, but Brent crude ended the week nearly 3 percent lower after an OPEC-led decision to extend production curbs did not go as far as many investors had hoped.

Trading was light after Thursday's heavy sell-off and ahead of the long weekend break in the United States and

27/05/2017 10:48:24 AM | Posted in Commodity Top News read full news
Oil prices rebound; dollar firms as sterling drops

By Hilary Russ

NEW YORK - Oil prices recovered on Friday from some of the previous day's steep slide after investor disappointment that OPEC curbs did not go far enough, while Wall Street stocks eked out a seventh straight day of gains.

U.S. bond yields stayed steady and gold saw big gains as a risk-off sentiment and concerns about political uncertainty

27/05/2017 10:45:12 AM | Posted in Commodity Top News read full news
OPEC ponders how to co-exist with U.S. shale oil

By Ernest Scheyder

VIENNA- First, they ignored each other. Then, they went into a bruising fight. Finally, they are talking, albeit with opposing agendas.

The history of the relationship between OPEC and the U.S. shale oil industry has evolved a great deal since the cartel discovered it had a surprise rival emerging in a core market for its oil around five y

27/05/2017 10:16:44 AM | Posted in Commodity Top News read full news
OPEC output cuts falls short of expectations - Angel Broking

Below is the views on OPEC output cuts falls short of expectations By Mr. Prathamesh Mallya (Chief Analyst- Non-Agri Commodities & Currencies, Angel Commodities Broking Pvt Ltd)

“The outcome of the OPEC meeting which was scheduled on 25th May 2017 decided to cut 1.8 million barrels per day through March 2018. This is surely an effort in the r

Crude oil prices in reverse gear after OPEC meet

Crude oil futures were little changed during afternoon trade in the domestic market on Friday as investors and speculators exited their positions in the energy commodity after OPEC and other major producers extended their current deal to limit oil production for 9 months, disappointing investors who were anticipating deeper cuts.

OPEC and its allies, including Russia, will roll over t

Global markets - Battered oil fights back, sterling hit as May's poll lead shrinks

By Dhara Ranasinghe

LONDON  - Battered oil prices recovered some ground on Friday as investors looked past disappointment that an OPEC meeting did not produce bigger supply cuts, while sterling slid on a poll showing the ruling Conservatives' lead shrinking, two weeks before an election.

European stock markets opened down as turbulence in oil market

OPEC disappointment hits oil, stocks; sterling down on UK vote jitters

By Nichola Saminather

SINGAPORE  - Oil prices weakened on Friday, prompting a move away from riskier assets and depressing Asian stocks, after an OPEC agreement to extend cuts in crude production for a further nine months disappointed investors who had bet on bigger output cuts.

26/05/2017 10:49:02 AM | Posted in Commodity Top News read full news
Oil languishes after OPEC fails to deepen supply cuts, Asia stocks retreat

By Nichola Saminather

SINGAPORE  - Crude prices remained subdued early on Friday after an agreement by OPEC to extend existing supply curbs disappointed many who had hoped for larger cuts.

Asian stocks dropped, turning away from Wall Street's strong performance overnight.

The Organization of Petroleum Exporting Countries and some non-OPEC

OPEC extends oil output cut by nine months - delegate

VIENNA  - OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018, an OPEC delegate said, as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three years.

The cuts are likely to be shared again by a dozen non-members led by top oil producer Russia, which reduced output in

World stocks hit record after Fed minutes, oil up as OPEC meets

By Nigel Stephenson

LONDON  - World stocks hit record highs on Thursday and the dollar dipped after the U.S. Federal Reserve signalled caution in raising interest rates, while oil prices rose in anticipation of top producers agreeing to extend output cuts for up to a year.

European shares opened higher, but quickly dipped into negative territory. The pa

OPEC meets to extend oil cuts for up to one year

By Rania El Gamal, Ernest Scheyder and Alex Lawler

VIENNA - OPEC and non-member oil producers are gearing up to extend output cuts on Thursday, possibly by as long as 12 months, to help clear a global stocks overhang and prop up crude prices.

The Organization of the Petroleum Exporting Countries is to discuss in Vienna whether to prolong an accord reached in

Crude oil rises on hopes of a deal

Crude oil futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the energy commodity on expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its allies would be able to extend their pledge to slash output to tighten supply.

OPEC and its allies meeting already began in

Oil prices rise in anticipation of extended OPEC-led output cut

By Henning Gloystein

SINGAPORE  - Oil prices rose ahead of an OPEC meeting on Thursday that is expected to extend output cuts into 2018, adding at least nine months to an initial six-month curb in the first half of this year.

Brent crude futures were trading at $54.39 per barrel

As oil prices languish, signs emerge of Algeria changing its energy ways

By Lamine Chikhi and Patrick Markey

ALGIERS  - Less than a year ago, Algeria was ready for a legal battle with French oil giant Total; it looked like business as usual for a country known for bureaucracy, tough contracts and often testy relations with foreign energy groups.

Yet, within months Total had dropped its action with international arbitrators,

Crude oil futures rise on extended output cut hopes

Crude oil futures were trading higher during afternoon trade in the domestic market on Wednesday as investors and speculators extended their positions in the energy commodity on expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its allies would be able to extend their pledge to slash output to tighten supply.

OPEC and its allies will meet in Vienna on

OPEC, non-OPEC hold informal talks to nail new oil cuts

By Alex Lawler and Vladimir Soldatkin

VIENNA - OPEC and non-OPEC ministers meet for informal consultations in Vienna on Wednesday in a last-ditch bid to agree the duration of oil output cuts as they seek to clear a global stocks overhang that has pulled down the price of crude.

The top oil producer in OPEC, Saudi Arabia, favours extending the output curbs by

Global stocks slip on China downgrade, ahead of Fed minutes

By Jamie McGeever

LONDON - World stocks inched lower on Wednesday after China's sovereign credit rating was downgraded and as investors eyed a pause in Wall Street's four-day winning streak, the longest in over three months.

The dollar and U.S. bond yields were steady as investors awaited the minutes from the Federal Reserve's last policy me

U.S. plan to sell oil reserves undermines OPEC supply management efforts

By Henning Gloystein

SINGAPORE  - U.S. President Donald Trump's proposal to sell half of the United States' strategic oil reserve surprised energy markets on Tuesday since it counters OPEC's efforts to control supply in order to boost prices.

The White House requested in its budget released late on Monday gradually selling off the nation'

Heading to OPEC, UAE says backs output cut extension

KUWAIT  - Kuwait's oil minister said on Tuesday that global oil producers would discuss at their meeting this week whether to extend output cuts for six months or nine months, because not all were on board for nine.

"We have agreed on the six months. Some of the countries have agreed to six months subject to a revision in November for an additional three

23/05/2017 11:15:21 AM | Posted in Commodity Top News read full news
Oil prices fall as White House proposes U.S. oil reserve sales

By Stephen Eisenhammer

LONDON  - Oil prices fell on Tuesday, weighed down by U.S. President Donald Trump's plan to sell off half the country's huge oil stockpile, threatening a future glut even as OPEC and its allies cut output to try and tighten the market.

Brent crude ended a run of four days of consecutive gains to trade 36 cents lower a

India moving beyond oil as seeks alternatives to OPEC

By Dmitry Zhdannikov, Ernest Scheyder and Nidhi Verma

VIENNA/NEW DELHI  OPEC production cuts and the prospect of more expensive oil are pushing India to consider U.S. and Canadian suppliers, as well as encouraging it to turn to renewable energy, the country's petroleum and natural gas minister said on Monday.

Dharmendra Pradhan made the comments in

Iraq says achieved OPEC oil cut share, ready to meet new demand

LONDON  - Iraq has achieved its share of the production cut agreement reached by OPEC and non-OPEC producers at the end of last year but remains ready to meet future oil demand growth, according to a speech by Iraqi oil minister Jabar al-Luaibi on Monday.

"Iraq as the second largest producer in OPEC confirms its achievement to the commitment to implement the