Brent crude hits $51 per barrel for first time since October
North Sea crude benchmark Brent are nearing an eight-month high above $51 per barrel on Tuesday propped up by a weaker dollar…
Tag Archives: oil prices
Oil drops below $48 on Fed hike speculation, fading support from outages
Oil fell below $48 a barrel on Thursday, pressured by a stronger dollar and as a surprise increase in U.S. inventories served…
Kuwait expects oil prices to reach $50 per barrel by year end
Kuwait’s Acting Oil Minister Anas Khalid Al-Saleh expects oil prices to stand at $50 per barrel at the end of 2016. MOSCOW…
Veep urges coordination between Tehran, Algeria on oil price
TEHRAN, May 17 (Shana) — First Vice President Eshaq Jahangiri urged coordination between Iran and Algeria on oil price. He made the…
Iran, Algeria poised to enhance energy ties
TEHRAN, May 16 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh said Tehran and Algiers can boost their energy ties despite…
Kuwait asks Iran to join oil output freeze
Kuwait has called on Iran to join an oil production freeze plan after major producers failed to agree on keeping output at…
Natural gas, oil prices to rise by 2017 – US energy info administration
Prices for natural gas will rise by the end of the year due to increasing industrial demand among other factors, US Energy…
Iran helps offset problems in Canada and Nigeria, IEA says
PARIS (AP) — The International Energy Agency said Thursday that higher than expected Iranian oil production has helped stabilize the global oil…
‘Iran oil came back much faster than expected’: RBC’s Croft
Iran has been back in the international oil markets for only four months, but it’s already shaping up to be the biggest…
More Saudi crude to hit saturated market
Saudi Arabia’s national oil and gas company, Saudi Aramco, is all set to pour more crude into a global market already reeling…
Iran cuts crude prices vs Saudis, Iraq in market share fight
Iran has set its June official selling prices (OSPs) for heavier crude grades it sells to Asia at the biggest discounts to…
Low oil price impact on gas market
TEHRAN, May 03 (Shana) — Gas market is currently experiencing more fluctuations and stagnation than the oil market. This stagnation is likely…
Russia says Iran’s crude output increase not much affecting price
Moscow, April 21, IRNA – Russian Energy Minister Alexander Novak said on Wednesday that increase in Iran’s oil production will not have…
What led to failure at Doha and how will it affect oil
Oil tumbled to two-month lows on Sunday after the world’s biggest producers failed to agree on freezing oil production. This lack of…
Oil meeting in Qatar collapses without freeze as Iran absent
DOHA, Qatar (AP) — A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production…
Oil freeze deal faces trouble as Iran-Saudi tensions spike
A meeting between OPEC and non-OPEC oil producers on an agreement to freeze output ran into last-minute trouble in Qatar on Sunday…
Iran sends OPEC governor to Doha oil freeze talks
Iranian Petroleum Minister Bijan Zangeneh will not attend upcoming talks between OPEC and non-OPEC producers in Doha to find a solution to…
Oil prices rise highest as Russia, Saudi Arabia align output freeze
Oil prices rose to the highest values since November on Tuesday, increasing to over $44 per barrel following news of consensus between…
IMF forecasts 4% growth for Iranian economy
The International Monetary Fund (IMF) has projected a four-percent growth rate for Iran in 2016 while maintaining a gloomy outlook for Saudi…
Oil drops after Saudis say will freeze output only if Iran joins
SEOUL, April 4 — Oil extended declines after Saudi Arabia’s deputy crown prince said the kingdom will freeze output only if Iran…
Iran said to attend Doha talks without joining oil freeze
Iran will attend talks with fellow OPEC members and Russia in Qatar next month without joining their proposal to freeze crude oil…
5 reasons Iran will be able to wait out low oil prices
Iranian officials have repeatedly rebuffed calls by other oil producers to halt or cut production. Tehran appears determined to reclaim market share…
Moody’s cuts Saudi banking system outlook to negative
Moody’s rating agency has downgraded Saudi Arabia’s banking system from “stable” to “negative” as low oil prices continue to batter the kingdom’s economy.…
Oil rises as producers announce meeting on output freeze
Oil prices firmed on Wednesday on an announcement that producers will meet next month in Qatar to discuss a proposal to freeze…
Oil production freeze likely to be discussed in April – Russian minister
Russian Energy Minister Alexander Novak said that major oil producers will most likely meet to talk over oil production freeze in April.…
OPEC and Russia to renew oil output freeze talks on March 20 in Moscow
Almost a month has passed after the announcement of the deal between Russia and Saudi Arabia to freeze crude oil output at…
“Admin curbed price hikes despite oil price slump”: Spokesman
TEHRAN, March 09 (Shana) — The government spokesman said the Rouhani administration has been able to control inflation in Iran despite falling…
Signs of Hope: Four reasons for growing oil prices in near future
An analyst at PRICE Future Group outlined four reasons why the worst oil crisis in history seems to be nearing an end.…
Russia may be running out of oil
Oil production in Russia will inevitably decline by 2035 according to an Energy Ministry report seen by the Vedomosti business daily. The…
Development projects to continue despite of $18 p/b oil
TEHRAN, March 1 (Shana) – Deputy managing director for investment and finance in the National Iranian Oil Company said that despite…
Current oil market turbulence ‘Due to OPEC Managing Price’
The present crisis in the global energy market is deeply rooted in OPEC managing the oil prices, LUKoil and PetroChina Board of…
Investment disability wrapped in stylish oil freeze plan
TEHRAN, Feb. 24 (Shana) — If production freeze by oil-producing countries continues until the third quarter of 2016, the return of…
Oil prices fall as global glut offsets prospect of lower U.S. output
Oil futures fell more than 1 percent on Tuesday amid worries rising Iranian output would deepen a global crude oversupply, offsetting expectations…
Iran not ready to cap oil output: Russian minister
TEHRAN (Tasnim) – The Russian energy minister said Saturday Iran is still not ready to freeze its oil production. “As I’ve said…
Europe ends in the red as oil tumbles; earnings, autos eyed
European markets finished firmly in the red on Friday as the renewed decline in oil prices and mixed performance in markets overseas…
Saudi won’t cut oil output, foreign minister tells AFP
Riyadh (AFP) – Saudi Arabia is “not prepared” to cut oil production, its foreign minister said on Thursday, after the top exporter…
Global stocks gain as oil price extends recovery
SEOUL, South Korea (AP) — Global stocks mostly posted strong gains on Thursday as a rebound in the price of oil and…
Oil prices get boost as Iran praises Saudi plan to freeze output
Iran has given a significant boost to oil prices by unexpectedly praising a plan put forward by Saudi Arabia and Russia to…
Tehran quartet ministerial meeting opens to tackle oil price slump
TEHRAN, Feb. 17 (Shana) — A meeting of oil and energy ministers of Iran, Iraq, Venezuela, and Qatar started here on Wednesday…
Asking Iran to freeze oil output ‘illogical’
Iran’s OPEC representative says the country will continue ramping up oil production to reclaim its market share, a day after Saudi Arabia…