Tuesday 31 March 2015
 
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Crude

China a big buyer of Yemen oil as export risks rise

Oil prices have surged on growing conflict in Yemen, though trade sources said there was ample crude supply in global markets to replace any drop in exports to buyers such as China as long as the conflict did not cause broader disruption.

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Oil prices surge over air strikes in Yemen

Brent crude oil shot up nearly 6 per cent on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, although importers saw little immediate threat to supplies. The strike against Houthi rebels, w

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Schlumberger sees prudence as new normal for US shale oil

The US shale oil industry may have forever abandoned its heavy-spending ways in the face of sliding crude prices, Schlumberger, the world's No 1 oilfield services provider, said Spending cuts already announced by producers - t

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Three tankers to lift oil at eastern Libyan ports

Three tankers plan to lift 1.7 million barrels of crude from ports in eastern Libya this week, oil officials said on Monday, giving hope to the battered energy sector in the North African country. The OPEC member state's oil s

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Saudi Arabia ramps up oil-gas rig count amid crude slump

As the global energy industry stares transfixed at a spectacular drop in US rigs, Saudi Arabia is ramping up the number of machines drilling for oil and gas despite a sharp fall in the price of crude. Industry sources and analysts

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Brent oil falls below $54 on Opec output, Iran

Brent crude oil fell below $54 a barrel on Friday and was on track for its third straight weekly loss, hurt by worries of rising supplies from Opec and the United States. Intensive efforts to clinch a deal between world powers and

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India to import Iraq oil to fill reserves

India is set to import 8 million barrels of Iraqi oil to fill its first strategic petroleum reserve (SPR), taking advantage of cheap prices and lending some support to a market suffering from oversupply. India's SPR purchases

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Saudi crude exports up in January to 7.47m bpd

Crude oil exports from Saudi Arabia rose in January to their highest level since April last year, while volumes used by domestic refineries remained high, official data showed. Saudi Oil Minister Ali Al-Naimi has said oil demand w

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Brent falls towards $53 after US crude stocks rise

Brent crude fell towards $53 a barrel on Wednesday as US crude stocks were forecast to have surged for the 10th straight week to a new record high, fuelling supply concerns of a global oil glut, although a weaker dollar kept a floor under prices

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S Korea's February Iran crude imports down 50pc

South Korea's imports of Iranian crude oil dropped 50 per cent in February from a year earlier, and the country's oil shipments from the Opec country in the first two months of this year met international sanction requirements.

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