Wednesday 22 October 2014
 
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oil market

As oil prices tank, new era of abundance seen dawning

As oil production swells, demand falters and prices slide, the global oil market appears on the verge of a pivotal shift from an era of scarcity to one of abundance. Oil prices have fallen as much as 20 percent since June, despite

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Oil market ‘long term fundamentals robust’

Long term oil market fundamentals are robust and short-term price moves have little meaning for Saudi Arabia, the kingdom's deputy oil minister, Prince Abdulaziz Bin Salman Bin Abdulaziz, was quoted as saying by the Saudi Press Agency.

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Kurds losing access to US oil market

US refiners will refrain from buying more Kurdish crude oil until a long-running dispute between Baghdad and Iraqi Kurdistan is settled, while Washington urges both sides to set aside their differences. The two known U.S. buyers o

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World oil markets can deal with Iraq situation, says US

US Treasury Secretary Jack Lew said on Tuesday there was ample oil production capacity to offset any supply disruptions that may occur due to the violence in Iraq. "I believe that world energy markets will be able to deal wit

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Opec sees balanced oil market in 2014

Opec said its current oil output is helping to meet global demand fully and leading to a balanced market in 2014, a further sign the exporter group is unlikely to alter output policy at a June meeting. In a monthly report on Tuesd

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Opec sees balanced oil market in 2014

Opec said its current oil output is helping to meet global demand fully and leading to a balanced market in 2014, a further sign the exporter group is unlikely to alter output policy at a June meeting. In a monthly report on Tuesd

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Market fearing oil shortages, says Saudi minister

Worries about supplies have caused the oil market's pricing dynamics to shift in recent days, Saudi Arabia's oil minister said on Saturday. "Did you see what happened over the past three days? The market shifted from

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Middle East turmoil helps Opec revenues

Turmoil in the Mena region has been awful for the people of the region. The same cannot be said for Opec, the oil group. The long list of crises - violence in Iraq, fear of sectarian spillover from the Syrian conflict, oil worker strikes in Liby

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Oil market ‘can cope with more Iran export cuts’

The top U.S. energy official said world oil markets could cope with further cuts in Iran's oil exports from tighter sanctions over its nuclear programme as rising supply from the United States and Iraq offsets the loss. U.S. l

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Oil market stability restored claims Saudi

  Saudi Arabia is satisfied that oil prices have fallen to a level that does not hamper global growth, Saudi Oil Minister Ali Al-Naimi said on Wednesday, signalling success in a Gulf Arab effort to keep oil prices under control d

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