Sunday 26 October 2014
 
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Oil

Oil price decline temporary says Sabic CEO

The recent decline in global oil prices will prove temporary even if it lasts a year or so, since population growth will ultimately bring higher consumption and prices, the chief executive of Saudi Basic Industries Corp (Sabic) said on Sunday.

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Oman may start cutting subsidies from next year

Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-Balushi said on Saturday. The country's orig

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Oman may start cutting subsidies from next year

Oman's government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-Balushi said on Saturday. The country's orig

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Islamic State keeps up Syrian oil flow despite strikes

Islamic State is still extracting and selling oil in Syria and has adapted its trading techniques despite a month of strikes by US-led forces aimed at cutting off this major source of income for the group, residents, oil executives and traders s

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Iraq's oil exports rising in October despite unrest

Iraq's oil exports from its southern terminals are holding close to a record high in October and Kurdish shipments are climbing, a further sign that fighting has not derailed an expansion of supplies from Opec's second-largest producer.

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Iraq's oil exports rising in October despite unrest

Iraq's oil exports from its southern terminals are holding close to a record high in October and Kurdish shipments are climbing, a further sign that fighting has not derailed an expansion of supplies from Opec's second-largest producer.

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Saudi supplies less oil in Sept despite output rise

Saudi Arabia supplied less crude oil to the market in September than a month earlier, an industry source said on Thursday, at a time when some Opec members are calling on the top oil exporter to cut back output to lift prices. Bre

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Oil near $84 on sharp rise in US crude stocks

Brent crude fell for a second session running on Thursday, hitting a one-week low just above $84 a barrel as a sharp rise in crude inventories in top oil consumer the United States reinforced oversupply concerns. US crude inventor

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Iran says lower oil prices a new tactic to undermine its economy

Iran has accused fellow Muslim countries in the Middle East of plotting with the West to bring down oil prices as a tactic to further undermine its sanctions-hit economy.   With oil losing a quarter of its value

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Oil analyst Horsnell sees no Saudi price war

Standard Chartered Bank oil analyst Paul Horsnell, renowned for having called the market's long rally a decade ago, is back, and sticking with a more bullish bias even as prices slump to four-year lows.   Hor

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