Oil prices at current levels may have reached a floor and could move higher very soon, the Organization of the Petroleum Exporting Countries (Opec's) secretary-general said, his first public comment that oil's second-biggest decline on
Oil prices were little changed on Tuesday, with Brent holding above $48 following comments from a top Opec official that prices may have found a floor.
Opec secretary-general Abdullah Al-Badri said oil prices may have bottomed out
Oil prices declined on Monday, with US crude falling close to a nearly six-year low, as Saudi Arabia's new King Salman moved to assuage fears of an unstable transition and any policy change in the world's largest oil exporter.
Saudi Arabia's new king is expected to continue a policy of keeping oil output steady to drive out rival producers, though the royal succession has focused market attention on the future of the kingdom's
The Organization of the Petroleum Exporting Countries (Opec) defended its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel's policy could le
The head of Italian energy company Eni Spa urged Opec on Wednesday to act to restore stability in oil prices, which he warned could overshoot to $200 per barrel several years down the road because of low investment now.
Oman Oil Minister Mohammad bin Hamad Al-Rumhy sharply criticised Opec's production policy on Wednesday, saying it was creating volatility in the market without benefiting oil producers and that his country was suffering.
Iran sees no sign of a shift within Opec towards action to support oil prices, its oil minister said, adding its oil industry could ride out a further price slump to $25 a barrel.
The comments are a further sign that despite lobby
The collapse in oil prices is starting to slow growth in US output, the Organisation of the Petroleum Exporting Countries (Opec) said on Thursday, although the slowdown will not prevent demand for the exporter group's oil falling in 2015 to
Crude oil dipped on Thursday after a volatile session the previous day, when prices rebounded sharply from near-six-year lows that reflected a global oversupply.
Wednesday's 4.5 per cent surge in Brent crude futures , the bigg