Sri Lanka deployed troops and police to distribute fuel Wednesday as striking petroleum workers protested over plans to sell off stakes in state-owned oil depots to India and China. The indefinite...
The local fuel market in the first Pricing-window in June 2017 recorded interesting turn of events. Prices were projected by Institute of Energy Security (IES) to rise up to 4% based on global oil...
The price of oil has plummeted by about 5%, despite oil-producing nations agreeing to extend production cuts for a further nine months. Meeting in Vienna, energy ministers from both Opec and non-Opec...
Buoyant trading in New York saw Wall Street set fresh records on Thursday, with US stocks recording their sixth consecutive positive finish. European markets were mainly in negative territory,...
Iraq has agreed to a nine-month extension of a production cut pact among OPEC members that is aimed at boosting crude prices, the country's oil minister said on Monday. "We are in agreement with the...
Energy shares led a broad rally across Asian markets on Monday as oil prices were boosted by growing hopes that an OPEC-led output cut will be extended by another nine months. With the deal agreed...
Saudi Arabia's energy minister expressed confidence on Sunday of extending a global cut in oil production designed to boost prices. Khalid al-Falih spoke ahead of a meeting on Thursday between the...
The Institute of Energy Security (IES) has predicted an average drop of 1.03% percent in fuel prices for the second pricing window. According to IES, current developments across the globe indicate...
The world's biggest oil producers Russia and Saudi Arabia on Monday called for extending an output reduction deal ahead of an OPEC meeting later this month. "To underscore the determination of oil...
Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing...
Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing...
Economic growth in Saudi Arabia and most other Arab oil exporters will slow this year following production cuts aimed at propping up energy prices, the International Monetary Fund said Tuesday. In...
Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world's biggest oil exporter said on Tuesday, as prices fell below $48 a barrel. OPEC and non-OPEC countries...
OPEC compliance with oil output reductions has exceeded the target because of higher Saudi cuts, Kuwaiti Oil Minister Essam al-Marzouk, head of a committee overseeing the decreases, said Wednesday....
The energy sector is the stock market's dud so far in 2017 after a banner performance in 2016, and the rest of the year may also be rocky for investors due to the unclear path for crude oil prices....
The biggest names in the oil world come together this week for the largest industry gathering since the end of a two-year price war that pitted Middle East exporters against the firms that drove the...
Oil prices rose on Monday as investors showed record confidence in prices rising further, though gains were capped by the prospect of faster growth in U. S. oil production. Brent crude oil LCOc1 rose...
Oil slipped on Friday, pressured by growing global stocks, while expectations that an oil output cut by producers might eventually balance the market helped to underpin prices. Brent crude futures...
The Institute for Energy Security (IES) has indicated that if government does not take any action to address recent developments in the energy sector, fuel prices could go up by three per cent at the...
Renewed drilling by US oil producers is keeping a ceiling on a global crude price recovery, cutting into the impact of deep reductions by other major producers, OPEC said Monday. In its latest oil...
