A peak in global oil demand is unlikely to occur before 2040 in a sub-$70 oil world, according to a research report from Bank of America Merrill Lynch (BoAML).
Over the medium-term, low oil prices will influence the trajectory of
After a year of secret diplomacy and hushed-up private talks around the world, Opec's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-Opec Mexico which overcame mutual acrimony and led to a much-needed rise in oil
European equities fell on Tuesday as crude oil prices slipped again and companies like BP reported disappointing earnings.
BP fell 9 per cent, its biggest daily decline since mid-June 2010, after reporting its worst annual loss in
BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.
Turkey aims to reach $30 billion (in trade) with Iran by 2023, Economy Minister Mustafa Elitas said, adding that Turkey-Iran trade reached $22 billion in 2012 before the slide in oil prices pushed that figure down to $14 billion last year.
Asian stocks started a new month on a cautious note on Monday, with the Bank of Japan's surprise policy easing sparking some buying but further signs of economic weakness in China and a fall in oil prices keeping investors on guard.
GCC equities underperformed most international peers with the MSCI GCC total return index retreating 15 per cent during the year, its weakest performance since 2008 as market capitalization shed $200 billion, a report said.
Oil prices jumped 3 per cent on Monday after Saudi Arabia's execution of a prominent Shi'ite Muslim cleric spurred regional anger and geopolitical tensions,while Asian shares began their first trading of 2016 on a cautious note.
Oil prices steadied not far off their 11-year lows on Tuesday, under pressure from slowing global demand and abundant supplies, with Saudi Arabia signalling no change to its oil policies and Iran preparing to ramp up exports.
Plummeting oil prices have hit Islamic State’s (IS) profits as rouge traders turn back to sanctioned distributors, a researcher said.
IS, also known as Da’esh, controls most of the significant oil rigs in Syria and pro