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Saudis say to take "big hit" on oil output for OPEC deal, Iran can freeze

November 30, 2016 7:10 pm

Saudi Energy Minister said OPEC was focusing on reducing output to a ceiling of 32.5 million barrels per day, or cutting by more than 1 million bpd.

Dollar slump raises oil prices after well-below-forecast US jobs report

June 06, 2016 10:44 am

Borrowing costs are not seen to rise before September at the earliest, the dollar tumbled, making oil cheaper for anyone buying it with other currencies.

Oil prices drop amid weak data; OPEC fails again to set an output quota

June 04, 2016 12:21 pm

The West Texas Intermediate lost 55 cents while Brent crude for August delivery decreased 40 cents.

Post OPEC meeting, Brent crude oil price stabilises at around $50 per barrel

June 03, 2016 12:25 pm

Strong demand in Asia was also reflected by a jump in refining margins especially for diesel and jet fuel.

Oil prices continue dip with stronger dollar

May 24, 2016 11:07 am

Prices have rebounded since plunging to near 13-year lows below $30 in February but are still well short of peaks of more than $100 a barrel reached in June 2014.

Oil prices dip on strong dollar, firm global supplies

May 23, 2016 7:50 am

A meeting of the OPEC exporters' group, including Iran, is scheduled for June 2.

Russian oil chief Igor Sechin: OPEC unity effectively extinct

May 10, 2016 3:59 pm

The comments are the first from Russia's most influential oil executive after crude producers failed to agree to freeze output to support prices at a meeting in Qatar last month.