OPEC, allies may need to change course as oil inventories rise: panel
LONDON: OPEC signaled on Thursday it may have to return to oil production cuts as global inventories rise, in a statement that may further sour relations with …
OPEC
OPEC says oil market well supplied, wary of 2019 surplus
LONDON: OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group’s secretary-general said on Thursday, suggesting …
U.S. gasoline prices at seasonal 4-yr high ahead of midterm elections
NEW YORK: U.S. gasoline prices are sitting at four-year seasonal highs headed into the November midterm elections, even as President Donald Trump has called …
Oil hits four-year high after U.S. sanctions on Iranian crude export
LONDON: Crude oil prices shot to a four-year high on Tuesday, catapulted by imminent exports and the apparent reluctance of OPEC and Russia to raise output to …
Oil jumps 2 percent as market tightens, more gains seen
LONDON: Oil prices rose 2 percent on Monday as U.S. sanctions restricted Iranian crude exports, tightening global supply, with some traders forecasting a spike …
OPEC raises U.S. oil supply outlook, sees lower demand for own crude
LONDON: A steady rise in U.S. oil output will gather pace in the next five years, OPEC said on Sunday, predicting that demand for the producer group’s …
Oil prices inch up as supply concerns outweigh U.S. output assurances
BEIJING: Global oil prices edged up from early losses on Monday despite assurances from Washington that Saudi Arabia, Russia and the United States can raise …
OPEC, non-OPEC panel to discuss sharing oil-output boost
DUBAI/LONDON: An OPEC and non-OPEC technical committee will next week discuss proposals for sharing out an oil-output increase, sources familiar with the …
Equatorial Guinea to crack down on oil services companies over local jobs
CAPE TOWN: Oil and gas services firms, Sub sea 7 and FMC face being banned from working in Equatorial Guinea if they do not commit by the end of this …
Oil rises ahead of Storm Gordon
NEW YORK: Oil prices rose on Tuesday as the market prepared for potential supply disruptions due to a hurricane forecast to hit the U.S. Gulf Coast, but gains …