Global oil investments this year are on track to drop by 20 per cent, marking their biggest decline in history, Fatih Birol, head of the International Energy Agency, said on Friday.
A halving in oil prices in t
Saudi Arabia is continuing with its investments in the oil and gas industry as well as solar energy despite the current drop in oil prices, the kingdom's oil minister was quoted as saying on Friday.
Oil rose on Friday, pushed higher by fears about escalating violence in Syria and on expectations that data would show economic strength in the United States, the world's largest oil consumer.
Oil prices fell back on Thursday after an early rally on fears of storm damage to US oil installations faded.
Brent, the global benchmark for oil, was down 20 cents, or 0.4 per cent, at $48.17 a barrel by 10:33
Bahrain more than doubled the prices of beef and chicken on Thursday, removing meat subsidies in a politically sensitive move designed to save money as low oil prices slash the government's revenues.
India will pay the second tranche of $700 million in oil dues to Iran on October 12, sources said, within weeks of paying a similar amount after a July deal that set the roadmap for the lifting of sanctions aimed at Tehran's nuclear activi
Oil rose above $49 a barrel as an emerging risk premium over the situation in Syria countered further signs of an economic slowdown in Asia and rising US inventories.
Russia launched air strikes in Syria in its
Oil production in the Bahrain Field has reached new record levels this year of over 50,000 bpd which has not been seen since 1975, Energy Minister and Tatweer Petroleum chairman Dr Abdulhussain Mirza has said. In a statement issued after he ch
Opec oil output has risen in September from the month before, a Reuters survey found on Wednesday, as Iraq's northern exports recovered from disruption that had halted supply growth from the group's second-largest producer.
Global oversupply and more Iranian production are likely to keep a lid on oil prices next year, offsetting any slowdown in US shale output, a Reuters poll showed.
Benchmark North Sea Brent crude is exp