Reuters - Oil ended lower on Wednesday after reports that Irans oil minister said divisions exist within the Organization of the Petroleum Exporting Countries, leading futures to give up earlier gains on OPEC-led production curbs and export cuts from Libya. Crude pared gains late in the session after reports that Irans Oil Minister Bijan Zanganeh ...

Sputnik - As global oil markets hit their seventh straight week of price drops, OPEC members scheduled to meet in Vienna on December 6 will gather earlier on the sidelines of next weeks G20 in Buenos Aires, speeding up the process of attempting to control the worst price slide since January 2106. Both Brent and West Texas Intermediate ...

Tehran Times- After consecutive weeks of rise following the OPEC and non-OPEC deal on November 2016, Iranian light crude oil price experienced a nine cent decline in the week ending January sixth, to settle at $53.22, Shana reported on Saturday. According to the report, Irans heavy oil price in the same week experienced a 20-cent fall per barrel to ...

Oil prices fell nearly one percent on Tuesday on news that Iran and Libya have continued to increase production, overshadowing an OPEC agreement struck last week to freeze output levels in a bid to stem a two-year price rout. Benchmark Brent crude oil futures LCOc1 were trading down 40 cents, or 0.8 percent, at $50.49 a barrel at 0826 GMT. U....

Iranian President Hassan Rouhani says oil producing countries must take decisions to increase the oilprice at international markets. In a telephone conversation with Venezuelan President Nicols Maduro on Monday, Rouhani commended the stance adopted byCaracas at an extraordinary meeting of the Organization of the Petroleum Exporting Countries (OPEC) ...

Saudi Arabia on Sunday cut its oil prices to Europe, signaling mounting competition after OPEC failed to cap its output amid Irans exports ramp up. In an email sent to customers, state oil company Saudi Aramco said it had cut its light crude prices by 35 cents a barrel to northwest Europe and by 10 cents a barrel to the Mediterranean for July deliveries....

Oil futures fell more than 1 percent on Tuesday amid worries rising Iranian output would deepen a global crude oversupply, offsetting expectations of a drop in U.S. production that had spurred sharp price gains in the prior session. Key oil exporters, led by Saudi Arabia and Russia, have proposed to freeze output at January levels, but only if others ...

Oil futures rose in late Asian trade on Wednesday after spending most of the session in negative territory as U.S. crude stocks last week surged to more than half-a-billion barrels and as Iran plans to boost exports from March.   Brent for April delivery LCOc1 was up 5 cents at $32.77 a barrel as of 0751 GMT, after settling down 1.52, or ...

  TEHRAN, Jan. 31 (Shana) -- The $19,000b global trade can diminish by at least 8% by the oil market disturbances of Saudi Arabia and the fall of prices to below 30 dollars.   Crude oil supply in the market has reached 96.9 million barrels per day during the past three months while demand, according to the International Energy Agency ...

Following the collapse of oil prices, petrol in the United Arab Emirates has become cheaper than Some basic commodities, including drinking water. Motor-fuel prices have dropped toan unprecedented level, according tothe local newspaper The National. One liter ofSpecial gasoline currently costs 40 cents. Meanwhile, you can buy 1,5 litres ofEvian ...

The 46th World Economic Forum (WEF) has wrapped up in the Swiss ski resort of Davos. Some 2,500 participants from some 100 countries, including the leaders of 40 states, gathered in Davos to discuss the most urgent international issues, including falling oil prices, anti-Russia sanctions and the prospect of Iran's return to the global market. MOSCOW ...

Brent crude fell to another 12-year low on Thursday as the prospect of more oil supplies from Iran loomed, amid gloom over a world already awash with supply and concerns about global economic growth hitting equity markets.   The global benchmark LCOc1 dropped as far as $29.73, the lowest since February 2004 and down more than 1.5 percent....

Crude has already dropped to $30 a barrel but it is still far from hitting rock bottom. Analysts and traders predict $20 per barrel which is highly possible due to speculation in stocks and the strengthening dollar. The Russian Energy Ministry so far expects $30 a barrel. In December 2015, the ministry asked Russias biggest oil producers tocarry ...

Saudi Arabia has dropped its oil prices to try and wreck the Iranian economy and keep Tehrans oil exports out of major European markets, international business analysts told Sputnik. WASHINGTON (Sputnik) Earlier this month, Saudi oil giant Aramco announced that it would cut oil prices forEurope, apparently inpreparation forIrans resumption ...

TEHRAN, Dec. 19 (Shana) -- Iran's vice-president has underlined the significance of cooperation between oil-producers to help boost oil prices in the global market. During a visit to fellow OPEC member Algeria, Eshaq Jahangiri said on Thursday that he reached an agreement with Algerian prime minister to find a solution with the help of other OPEC ...

Oil slipped toward an 11-year low on Thursday, dented further by a seemingly relentless build in oversupply, and as the dollar strengthened after the U.S. Federal Reserve raised interest rates for the first time in nearly a decade. Brent crude for February delivery LCOc1, the front-month contract from Thursday, fell 20 cents to $37.19 a barrel by ...

After its return to the market, Iran will be able to export oil even if prices fall below $30 per barrel, Oil Minister Bijan Zangeneh said Sunday. MOSCOW (Sputnik) His statement came inwake ofglobal oil prices' continuous decline sincemid-2014, triggered byoversupply and fears overIran's return tooil market aftersanctions' relief. "Even if oil ...

DALLAS (AP) -- Gasoline is close to breaking below a key psychological barrier as drivers enjoy some of the cheapest pump prices since the recession. The nationwide average price of a gallon of regular Saturday was $2.02, down 58 cents from this time last year, according to auto club AAA. Experts say it could drop below $2 a gallon in the coming days....

The international prices of oil have hit fresh 7-year lows in what appears to be a result of growing oversupply concerns. US benchmark West Texas Intermediate (WTI) for delivery in January was down 28 cents at $36.48 and Brent crude for January was trading 26 cents lower at $39.47 at around 0240 GMT, their lowest levels since early 2009 during ...

Tehran,November1, The Iran Project Theoutcomesof the drop in oil price are immediately clear in the local gas stations and laterin oil-producinggovernment policies shift to cut public budgets. In the long-run, however, there may be some further consequences for these consequences. History shows how energy and particularly oil bursts and booms have ...