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Oil glut to ease by 2017, clean energy investment to rise: BirolThe International Energy Agency (IEA) expects oil markets to reach a balance between supply and demand in 2017 as the current oil glut slowly eases, IEA chief Fatih Birol said during meetings in South Korea. Th More… |
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Oil falls towards $44, lowest since MayOil on Tuesday hit its lowest since May, falling towards $44 a barrel, pressured by concerns that a long-awaited rebalancing of the market would be delayed due to excess supply. Brent crude is still up more than 60 percent from a More… |
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Oil falls towards $44, lowest since MayOil on Tuesday hit its lowest since May, falling towards $44 a barrel, pressured by concerns that a long-awaited rebalancing of the market would be delayed due to excess supply. Brent crude is still up more than 60 percent from a More… |
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Oil drops as higher output stokes glut fearsOil fell on Tuesday as rising output from the Middle East and North Sea renewed concerns about a global supply overhang while economic data painted a negative outlook for the demand outlook. Brent crude futures were trading 44 cen More… |
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Oil drops as higher output stokes glut fearsOil fell on Tuesday as rising output from the Middle East and North Sea renewed concerns about a global supply overhang while economic data painted a negative outlook for the demand outlook. Brent crude futures were trading 44 cen More… |
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Brent set to rise as oil glut begins to clear: reportThe oil market is now poised to rebalance in the next six quarters and Brent crude price is likely to rally to $47 per barrel by mid-year, according to a new report by Bank of America Merrill Lynch. The report titled ‘Global More… |
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Oil prices rise on optimism over end of punishing glutOil prices rose on Friday, lifted by fresh hopes over a proposed freeze in oil production and firm economic indicators from the US and Germany that cast a positive light on growth in fuel demand. Russia's o More… |
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Oil prices set to end week higher on output freezeOil prices slid but are set for their first weekly increase this month as talk of a co-ordinated plan by producers to freeze output levels was tempered by a record build in US crude inventories. Brent futures w More… |
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Opec members 'increasingly keen to end oil glut'The mood inside the Organization of the Petroleum Exporting Countries (Opec) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria's oil minister told Reuters. More… |
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Oil rises above $30 on hopes of deal to tackle glutOil rose further above $30 a barrel on Tuesday, lifted by hopes that Opec and non-Opec producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades. The Organisation of the Petroleum Exporting Coun More… |
