Friday 26 December 2014
 
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Crude

Brent steady below $60, heads for 4th weekly decline

Brent crude held below $60 a barrel, near a 5-1/2-year low, on Friday as a global oversupply of oil showed little sign of receding, even as companies cut upstream investments next year. Oil prices were on track for a fourth straig

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Brent steady below $60, heads for 4th weekly decline

Brent crude held below $60 a barrel, near a 5-1/2-year low, on Friday as a global oversupply of oil showed little sign of receding, even as companies cut upstream investments next year. Oil prices were on track for a fourth straig

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China ends near decade of rising Iraq crude oil orders

Chinese oil firms will keep the amount of crude they buy from Iraq unchanged in 2015 for the first time in almost a decade, as the need for imports falls and concerns over the quality of the oil persist, five sou

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Saudi crude oil exports rise to almost 6.9 mbpd in October

Top oil exporter Saudi Arabia shipped more crude oil in October than a month earlier while volumes used by domestic refineries remained high allowing more oil products exports, official data showed.

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Saudi crude oil supply inches up in November

Crude oil supplies from Saudi Arabia inched up in November from a month earlier, an industry source said, signalling no change in the kingdom's supply, despite a global oil glut and a steep fall in prices. Saudi supplied 9.420

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Oil sinks below $63 to lowest in more than 5 years

Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, dragged down by persistent concerns over a global supply glut and a sluggish demand outlook. Brent is down roughly nine per cent this week, some

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Kuwait cuts January crude price to lowest since 2008

Kuwait set the official selling price (OSP) for its crude oil sales to Asian buyers for January at $3.95 a barrel below the average of Oman/Dubai quotes, a trader said.   The

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Iraq sets bigger discount for heavy Basra crude exports

Iraq will give a bigger discount for heavy crude that it exports from its southern ports in Basra next year, three sources with knowledge of the matter said.   The move is ai

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US crude crashes 5pc, nears $60 on Saudi inaction

Oil prices tumbled as much as 5 per cent on Wednesday, pushing US crude to five-year lows near $60 a barrel after data showed a spike in US inventories and Saudi Arabia's oil minister reiterated that he has no plans to cut output.

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Oil rebounds 1pc to $71 after sharp losses

Oil rose more than 1 per cent on Wednesday with Brent climbing above $71 a barrel, recovering slightly from losses in the prior session as a turbulent market struggled to find a price floor. The market has swung between sharp gain

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