Sunday 26 October 2014
 
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oil price

Gulf states must cut spending amid oil price slump

Gulf oil exporters face inevitable spending cuts as weak oil prices cloud their economic outlook, Kuwaiti Finance Minister Anas al-Saleh said on Saturday. "We must undertake comprehensive economic reforms including the reform

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Brent oil ends week flat, pausing rout

Brent oil prices fell on Friday but were little changed on the week as traders caught their breath from a months-long rout, even as signs of rising global supply and a US contango structure threatened deeper losses. US crude oil f

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Oil collapse to hit majors’ earnings, challenge austerity

Falling oil prices and their impact on revenues will dominate European oil majors’ quarterly results next week, with investors eager to hear how companies plan to achieve ambitious cost-cutting plans in an increasingly tough environment.

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No impact on plans from oil price drop: Kuwait

The oil price drop to four year lows will not affect Kuwait's output plans or rate of production, the head of its state oil company said on Thursday. Speaking to reporters, Hashem Hashem, chief executive of Kuwait Oil Co, said

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In shift, Opec price hawk Iran says can live with lower oil

Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi Arabia and other Gulf Opec members and reducing the likelihood of any collective cut in Opec output to support prices. &nb

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Kuwait keeps wide discount to Saudi oil in market share battle

Kuwait has maintained a wide discount between the crude it sells to Asia against a comparable Saudi Arabian grade for November, amid increasing signs that Gulf producers are engaged in a price war to compete for market share. &nbs

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Nearly 3pc of global output vulnerable if oil falls to $80

Nearly 3 per cent of global oil production is vulnerable to cuts if prices fall to $80 per barrel, making some projects in Canada, Angola, Brazil and Norway unprofitable, the International Energy Agency (IEA) said.  

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Saudis avoid 1980s mistakes to halt oil price slide

Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again.

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BoA oil analyst who predicted downturn now sees floor

As Iraqi militants advanced on Baghdad with M-16s and stolen tanks in June, most investors and traders in the jittery oil markets believed oil prices would spike even higher. But not so, Francisco Blanch, a Bank of America analyst who pre

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Oil falls more than $1 on Kuwait, Saudi reports

Global oil prices lost more than a dollar on Monday in early Asian trades, as Kuwait said Opec is unlikely to cut ouptut to support prices and Saudi Arabia privately told oil markets that it is ready to accept oil prices perhaps down to $80 a ba

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