At $69 Crude Oil Price Hits A Three Year High
Crude oil prices hit new multi-year highs yesterday as production cuts led by the Organisation of Petroleum Exporting Countries (OPEC) and healthy demand helped to balance the market, but analysts warned of possible overheating.
Reuters reported...
Nigeria, Libya Exempted From OPEC Production Cut.
...As OPEC Ends Meeting in Vienna.
The 173rd meeting of the Organization of the Petroleum Exporting Countries (OPEC) has ended in Vienna, Austria and extended its current production agreement entered with participating Non OPEC oil producers for another 9...
Crude oil price rose towards $59 per barrel wednesday to sustain Tuesday’s rallies where it gained one per cent after the Saudi Energy Minister, Khalid al-Falih, said the focus remained on reducing oil stocks in industrialised countries to their five-year average.
The minister’s statement had...
Oil prices has risen over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising.
Brent crude futures, the international benchmark for oil prices, were at 57.84 dollars.
U.S. West Texas Intermediate (WTI) crude...
Crude oil prices have increased on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq.
An explosion at a U.S. oil rig and reduced exploration activity also supported prices there.
Brent crude futures, the international benchmark for oil prices, were at...
Oil rose to above $56 a barrel on Tuesday, supported by Saudi Arabian export cuts in November and comments from OPEC and trading companies that the market is rebalancing after years of oversupply.
Saudi Arabia has cut November allocations by 560,000 barrels per day (bpd),...
