Oil prices rose on Monday, after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the Opec member.
A fire caused by fighting at one of Libya's main export terminals has destro
GCC markets end the year flat after a correction caused by oil price volatility, but 2015 looks promising for investors due to strong fundamentals and low valuations, a report said.
The performance of GCC markets was mixed in 2014
Brent futures fell toward $61 per barrel on Wednesday, giving up some of the previous session's gains, as the US dollar held near its highest level in nearly nine years on strong data.
The dollar index stayed close to its high
Crude oil prices are likely to bottom out in the first half of 2015, until a possible slowdown in US shale production counters a supply glut exacerbated by Opec's decision not to cut output, a Reuters monthly
Arab Opec producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, Opec delegates said this week in the first indication of where the group expects oil ma
Saudi Arabia is prepared to increase its oil output and claim a bigger market share to meet the demands of any new customers, Monday's edition of the Saudi-owned Al-Hayat newspaper quoted the kingdom's oil minister as saying.
Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non-Opec nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years.
Saudi Arabia's oil minister said on Sunday non-cooperation by producers outside of the Organisation of the Petroleum Exporting Countries (Opec) and the actions of speculators had led to the oil price fall, but he was confident the market wou
One of the biggest reasons for the slide of oil prices is the "irresponsible" supply from producers outside Opec, the United Arab Emirates oil minister said in a speech on Sunday.
Suhail Bin Mohammed Al Mazroui was addre
Oil closed up as much as 5 per cent on Friday, its biggest gain in over two years, as some traders took profits on short positions after prices this week hit their lowest since 2009.
A sharp bout of short-covering prior to expiry