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Saudi, Russian oil ministers said to plan talks in Doha Tuesday

DOHA, Qatar (Bloomberg) -- Saudi Arabias oil minister will meet with his Russian counterpart in Doha on Tuesday to discuss the oil market, according to a person familiar with the talks. Ali al-Naimi, the most senior oil official of the worl......【More】

2016-02-16

Oil rebounds from lowest close in 12 years to pare weekly loss

NEW YORK (Bloomberg) -- Oil rebounded from the lowest level in more than 12 years, paring its biggest weekly loss in a month as the rout in equities eased and OPEC reiterated its willingness to engage with other producers. Futures rose as m......【More】

2016-02-15

Oil gains after Russia says open to talking with OPEC

LONDON (Reuters) -- Oil rose on Wednesday, paring earlier losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the worlds largest producers could act to boost pric......【More】

2016-02-04

Oil slips towards $33 as hopes for production cut fade

LONDON (Reuters) -- Oil prices fell around 3% on Tuesday, dented by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded. Brent for April delivery was down $1.01 at $33.23/b......【More】

2016-02-03

Iranian political battles pose risk for oil contracts

TEHRAN (Dow Jones) -- Iran is struggling to finalize the terms under which foreign energy companies can drill for oil there, as a political battle rages between the countrys more moderate forces and its conservative hard-liners. Iranian oil......【More】

2016-02-02

Oil and gas companies face difficult year as hedging protections roll off: IHS

HOUSTON -- As oil prices continue to decline, North American EP companies have hedged just 15% of their total production volumes for 2016, including 14% of oil and 18% of natural gas, leaving the companies largely exposed to current depress......【More】

2016-02-01

Russia says studying proposal for global oil production cuts

ST PETERSBURG, Russia/DUBAI (Reuters) - Russia said on Thursday that OPEC had proposed oil production cuts of up to 5% in what would be the first global deal in over a decade to help reduce a glut of crude and prop up sinking prices. It rem......【More】

2016-01-29

Oil resumes decline near $30 as U.S. supplies worsen global glut

WASHINGTON (Bloomberg) -- Oil resumed its decline near $30/bbl after U.S. industry data showed crude stockpiles increased, exacerbating a global glut. Futures slid as much as 3.7% in New York. Inventories surged by 11.4 MMbbl last week, the......【More】

2016-01-28

World Bank slashes 2016 oil price forecast to $37

WASHINGTON, D.C. -- The World Bank has slashed its forecast for crude oil prices by $14 to $37/bbl for 2016, it said on Tuesday, amid growing supply and weak demand prospects from emerging markets. In its annual Commodity Markets Outlook, t......【More】

2016-01-27

Saudis unbowed by oil crash with no spending cut before IPO

KUWAIT (Bloomberg) -- The worlds biggest oil producer is spending as much now as it did before the crash in crude prices, signaling no surrender in Saudi Arabias battle with rivals. Saudi Arabian Oil Co. is maintaining investment in oil and......【More】

2016-01-26