Oil prices fell to four-year lows on Thursday as it appeared unlikely producer club Opec would decide to cut output in support of prices at a meeting this week, and as increasing Chinese and US stocks boosted available supplies.
Opec leader Saudi Arabia and fellow member, the UAE signalled on Wednesday they were unlikely to push for a major change in oil output at the group's meeting this week to prop up prices that have collapsed by a third since June.
Opec leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut and threatened to unleash an oi
Oil prices dropped early on Wednesday as Asia's top economies showed signs of weakness, but hopes for output cuts by producer club Opec curbed losses
Benchmark Brent crude oil futures were trading down 20 cents at $78.13 a bar
Will Opec go for a quick fix and worry about the future later or will it pass the challenge to US producers by allowing the price to remain low or go even lower? These are the questions that the market will be looking for answers to this Thursda
Iran will try to persuade Saudi Arabia to cut oil production when the oil ministers from the two Organization of the Petroleum Exporting Countries (Opec) members meet in Vienna, Iran's semi-official Mehr news agency reported citin
Oil prices could plunge to $60 a barrel if the Organisation of Petroleum Exporting Countires (Opec) does not agree a significant output cut when it meets in Vienna, market players say.
Brent crude futures have
A panel of national representatives reviewed Opec's oil market outlook for 2015, Opec sources said, preparing the ground for a policy-setting meeting Thursday that will decide how to address a looming oversupply of crude.