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Goldman Sachs slashes oil price forecastsUS bank Goldman Sachs slashed it oil forecasts, saying fuel prices needed to stay low for much longer in order to curb production and end a global supply glut. Goldman Sach More… |
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Slow demand, rising supply put further pressure on oil price: IEAOil prices are likely to come under further downward pressure, the International Energy Agency said, as it cut its outlook for demand growth in 2015 and predicted healthy non-Opec supply gains would aggravate a g More… |
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Oil forecasts dive after Opec keeps output target:pollOil price forecasts have collapsed in the wake of the Organization of the Petroleum Exporting Countries (Opec's) decision not to cut output despite a global glut, Reuters monthly poll showed. More… |
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Oil plunges to 4-year low after IEA cuts forecastBrent crude fell almost three per cent to a fresh low near $86 a barrel on Tuesday, trading at its weakest level since 2010 after the West's energy watchdog cut its estimates for oil demand this year and next. The global oil b More… |
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IEA sees 2015 oil demand growth much lower, supply hitting pricesDemand for oil in 2015 will grow far slower than previously forecast as global economies remain weak, the International Energy Agency (IEA) said, and prices may extend their sharp fall so long as Opec shows no sign of countering a supply surge More… |
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Steel demand forecast drops on China slowdownThe World Steel Association has downgraded its previous short-range outlook for apparent steel usage on the back of the slowdown in the Chinese market as well as in South America and CIS, the association said. At its annual meetin More… |
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US boosts 2015 oil forecast as shale powers push to 10 mbpdThe US government jacked up its forecast for oil production next year by 250,000 barrels per day (bpd) as the boom in shale oil drilling continues to confound expectations of slower growth. The US Energy Inform More… |
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Iraq forecasts wheat imports above 2m tonnesIraq has enough wheat to last until March despite Islamic State militants taking over large areas of fertile land in the north, the head of the country's main grain-importing organisation told Reuters on Thursday. Hassan Ibrah More… |
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Oilfield services spend to rise 47pcGlobal oilfield services (OFS) expenditure is forecast to increase 47 per cent from $354 billion in thi year to $521 billion in 2018, according to Douglas-Westwood’s (DW) new World Oilfield Services Market Forecast. &n More… |
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Opec raises forecast for 2014 global oil demandWorld oil demand will increase more than expected in 2014, Opec said on Wednesday, raising its prediction for a second straight month as economic growth picks up in Europe and the United States. The Organizatio More… |
