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Opec scores 90pc compliance with output agreementOpec crude production fell by one million barrels per day (mbpd) to 32.06 mbpd in January, leading to record initial compliance of 90 per cent with the recent output agreement, said the International Energy Agency (IEA) in a new report. More… |
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Oil at 2008 low amid global glut, new supply worriesBrent crude prices fell on Monday to their lowest since 2008 on renewed worries over a global oil glut, with production around the world remaining at or near record highs and new supplies looming from Iran and the United States. B More… |
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Oil falls close to 2015 lows over compounded glutCrude prices fell on Monday in the first trading session after Opec-members failed to agree on output targets to reduce a bulging glut that has resulted in oil prices falling by more than 60 per cent since June 2014. The Organizat More… |
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US crude down $2 on higher Opec outputBrent crude futures dropped below their 100-day moving average on Thursday, the first time front-month Brent has moved under that level since January, and US crude fell $2 as economic concerns and higher Opec production weighed on prices. More… |
