The Organization of the Petroleum Exporting Countries (Opec) sharply raised its forecast of demand for its own oil in 2015, saying the halving in prices since June would slow production in the US and other countries much faster than previously
Oil prices are likely to come under further downward pressure, the International Energy Agency said, as it cut its outlook for demand growth in 2015 and predicted healthy non-Opec supply gains would aggravate a g
Brent crude fell almost three per cent to a fresh low near $86 a barrel on Tuesday, trading at its weakest level since 2010 after the West's energy watchdog cut its estimates for oil demand this year and next.
The global oil b
Demand for oil in 2015 will grow far slower than previously forecast as global economies remain weak, the International Energy Agency (IEA) said, and prices may extend their sharp fall so long as Opec shows no sign of countering a supply surge
The World Steel Association has downgraded its previous short-range outlook for apparent steel usage on the back of the slowdown in the Chinese market as well as in South America and CIS, the association said.
At its annual meetin
The US government jacked up its forecast for oil production next year by 250,000 barrels per day (bpd) as the boom in shale oil drilling continues to confound expectations of slower growth.
The US Energy Inform
Iraq has enough wheat to last until March despite Islamic State militants taking over large areas of fertile land in the north, the head of the country's main grain-importing organisation told Reuters on Thursday.
Global oilfield services (OFS) expenditure is forecast to increase 47 per cent from $354 billion in thi year to $521 billion in 2018, according to Douglas-Westwood’s (DW) new World Oilfield Services Market Forecast.