Oil above $58 on US shale output report, Mideast
Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.
Apr 14, 2015, 17:35 PM IST
Brent falls over 1% after Goldman forecasts lower prices
Brent crude fell more than 1 percent on Tuesday, paring overnight gains of nearly 6 percent, after Goldman Sachs said prices needed to remain low for months to achieve a slowdown in U.S. output growth.
Apr 07, 2015, 12:01 PM IST
Oil jumps 5 percent on tempered Iran view, slower US inventory rise
Oil prices jumped more than 5 percent on Monday as traders reassessed how quickly Iran might increase exports after a preliminary nuclear deal and anticipated that a months-long rise in U.S. crude inventories may be slowing.
Apr 07, 2015, 02:15 AM IST
German businessmen challenge ECB`s bond purchase programme
Three German businessmen are seeking to block the European Central Bank`s controversial bond purchase programme, arguing it oversteps the bank`s mandate, their legal expert told AFP on Monday.
Mar 23, 2015, 19:35 PM IST
OPEC daily basket price drops
The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $49.46 a barrel on Monday, compared to $51.66 last Friday, dropping over $2, the organisation`s secretariat said.
Mar 17, 2015, 16:53 PM IST
Oil price recovery not backed by fundamentals: OPEC
A recovery in oil prices which began last month is not justified by fundamentals as there remains a supply glut in the market, oil cartel OPEC said Monday in its monthly report.
Mar 16, 2015, 19:56 PM IST
US oil price hits six-year low
New York oil prices sank to a six-year low on Monday, falling below $44 per barrel as the market was plagued by plentiful supplies and the strong dollar.
Mar 16, 2015, 19:49 PM IST
Rebound in oil prices built on flimsy foundations: IEA
A recent rebound in oil prices is built on flimsy foundations, the International Energy Agency warned Friday, with another sharp fall possible and few signs that cheap fuel was giving growth a real boost.
Mar 13, 2015, 15:18 PM IST
PM Modi lucky till now; no change on business ground: Deepak Parekh
Pitching for relaxing "administrative controls" to improve ease of doing business, top industry leader Deepak Parekh has said that impatience has begun creeping in among businessmen as nothing has changed on ground in first nine months of the Narendra Modi government.
Feb 18, 2015, 18:56 PM IST
PM Modi had 'lucky 9-months' with fall in oil price: Deepak Parekh
Showing signs of restlessness, Deepak Parekh, Chairman of HDFC, on Wednesday said there have been no improvement on ease of doing business in the country and that PM Modi had 'lucky 9-months' with fall in oil price.
Feb 18, 2015, 17:42 PM IST
Aramco CEO says oil market imbalance has nothing to do with Saudi
The imbalance in the oil market has nothing to do with Saudi Arabia, and a fair oil price is what would ultimately balance supply and demand, the head of state oil company Saudi Aramco said on Tuesday.
Jan 27, 2015, 13:14 PM IST
New Saudi leaders to press economic diversification
Saudi Arabia's new leadership will push forward efforts to diversify the growing but oil- dependent economy, while easing procedures for investors, senior officials said Monday.
Jan 26, 2015, 18:50 PM IST
Oil plunge to cost GCC exporters $300 billion: IMF
The plunge in the oil price will cost the powerful energy exporters of the Gulf Cooperation Council around $300 billion, threatening to send many into budget deficits, the IMF reported Wednesday.
Jan 21, 2015, 22:54 PM IST
Oil falls further as IMF cuts forecast; Iran hints at $25 oil
Oil fell as much as 5 percent on Tuesday after the International Monetary Fund cut its 2015 global economic forecast on lower fuel demand and key producer Iran hinted prices could drop to $25 a barrel without supportive OPEC action.
Jan 20, 2015, 23:10 PM IST
Oil under pressure as IMF cuts global growth forecast
Oil diverged Tuesday, remaining under pressure as the International Monetary Fund slashed its world economic growth forecast and stoked demand fears.
Jan 20, 2015, 19:24 PM IST
Iran seeks OPEC cooperation to stop oil price slump
Iran Monday sought cooperation among the member states of the Organisation of Petroleum Exporting Countries (OPEC) to prevent the global oil prices from falling further.
Jan 19, 2015, 23:24 PM IST
Oil price plunge drags down Russian economy: EBRD bank
Russia`s battered economy will shrink by a far worse-than-expected 4.8 percent this year, as plunging oil prices add to fallout from the Ukraine crisis, the EBRD development bank forecast Monday.
Jan 19, 2015, 18:18 PM IST
Oil price slump could cripple clean energy push: Experts
Falling oil prices could have a negative impact on global efforts to develop renewable energy sources, experts warned Saturday at a conference in Abu Dhabi.
Jan 17, 2015, 19:54 PM IST
Oil market tumbles after OPEC boosts output
The oil market tumbled Thursday after OPEC said it produced more oil in December than its limit, despite sharply falling prices, and lowered its global demand outlook for its crude.
Jan 16, 2015, 05:10 AM IST
Oil rallies from multi-year lows
US oil prices Wednesday shot up more than five percent in a move attributed to bargain-hunting after the contract sank to a new multi-year low the prior day.
Jan 15, 2015, 05:00 AM IST
