Thursday 26 May 2016
 
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oil market

Oil market unlikely to rebalance fully by year-end: Total CEO

Oil demand in 2016 will stay strong, supporting prices, but the market is unlikely to rebalance by the year end, the chief executive of French oil and gas major Total said on Wednesday. Patrick Pouyanne told a French Senate commit

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IEA sees floor for oil market as stocks gain

Oil prices rose on Friday, boosting world stock markets, after an energy organization said the oil market may have found a floor, while the euro eased. Brent crude oil was on track for its third weekly gain after the report by the

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Saudi, Nigeria say cooperation crucial for oil market stability

Consultations and co-operation between OPEC and non-OPEC crude producers are the best ways to keep oil markets stable, Saudi Arabian and Nigerian government oil officials said, state news agency SPA reported on Tuesday. Saudi Depu

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Russia open to oil talks; oil rises

Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with Opec over output cuts helped revive hope among investors that the world's largest producers could act to boost prices.

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Russia open to oil talks; oil rises

Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with Opec over output cuts helped revive hope among investors that the world's largest producers could act to boost prices.

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How Saudi tactfully defended its US oil market share

Saudi Arabia has successfully defended its share of the US oil market even as rising domestic production from shale and growing pipeline imports from Canada have cut seaborne imports from other countries, said an expert. Saudi cru

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Opec emergency meeting ‘may hurt market’

Iran's oil minister said on Friday any emergency meeting of the Organization of Petroleum Exporting Countries (Opec) would hurt the crude oil market if it made no decision to shore up falling prices. Venezuela has been calling

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Opec sees market rebalancing in 2016 on price collapse

Opec forecast on Monday that oil supply from non-member countries will post a larger-than-expected decline this year due to the collapse in prices, boosting the need for crude from the producer group. Supply outside the Organizati

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Al-Naimi optimistic oil market will stabilise

Saudi Oil Minister Ali Al-Naimi said on Sunday that it would take "some time" to restore stability to the global oil market but he remained optimistic about the future. Al-Naimi's comments came even as Iran said it w

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Russia sees balanced oil market by 2016 end

The global oil market could return to a balance between supply and demand by the end of next year, as long as producers do not raise output from current levels, Russian Energy Minister Alexander Novak said on Tuesday. Global oil p

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