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
Brent oil drops under $50 per barrel for first time since 2009
European benchmark Brent oil sank under USD 50 per barrel on Wednesday for the first time since 2009, hit by OPEC`s production stance, oversupply, weak demand and the strong dollar.
Jan 07, 2015, 15:37 PM IST
Brent crude falls below $50 per barrel, lowest since May 2009
Oil prices hit fresh five-and-a-half-year lows on Wednesday as global business growth slowed to its weakest level in a year and analysts said a building supply glut meant that more falls were likely before a rebound.
Jan 07, 2015, 13:44 PM IST
