Saturday 31 January 2015
 
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oversupply

Oil near 6-year low as US stockpiles hit record high

Oil remained weak in Asia on Thursday after data showing record US stockpiles sent prices tumbling to the lowest level in nearly six years in the previous session and analysts said a global glut would continue to keep the market under pressure.

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Volatile oil dips over high US crude stockpile

Crude oil dipped in early Asian trade on Thursday after a volatile session the previous day, when prices rebounded sharply from near-six-year lows that reflected a global oversupply. Wednesday's 4.5 per cent surge in Brent cru

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Oversupply may last months or years: UAE

Oil market oversupply may last months or even years, but prices could recover if non-Opec producers "act rationally", the UAE oil minister said in remarks.  

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Oil sinks below $56 to hit fresh 5-1/2-year lows

US crude and Brent futures dropped to fresh 5-1/2-year lows on Monday as worries about a surplus of global supplies amid weak demand continued to drag on oil markets. Opec's decision in November to maintain output had accelera

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Oil sinks below $60 amid strong dollar, US oversupply

Oil prices fell below $60 on Friday, tumbling as the dollar strengthened and as a supply glut in top consumer, the US, trumped worries about falling production from Libya. The market had come under pressure from Wednesday's En

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Oil resumes fall, losing more than $1 on glut worries

Brent crude fell more than $1 on Wednesday, resuming its fall caused by a glut of oil in the market after a short-lived reprieve the previous day when a weaker dollar had provided some support. Worries about oversupply have pushed

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Oil hits 5-year low below $66 on oversupply worries

Benchmark Brent crude slipped to its lowest in five years on Tuesday, dropping below $66 a barrel after plunging more than 4 per cent the day before on worries over a deepening supply glut. The chief executive of Kuwait's nati

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Oil falls more than $1 as rout extends

Oil prices fell by more than a dollar on Monday to near their lowest levels since 2009 after Morgan Stanley cut its price forecast for Brent, saying oversupply will likely peak next year with Opec deciding not to cut output. "

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Opec reviews oil outlook in start to talks on glut

A panel of national representatives reviewed Opec's oil market outlook for 2015 this week, Opec sources said, preparing the ground for a policy-setting meeting next week that will decide how to address a looming oversupply of crude.

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Opec has not contributed to oversupply: UAE

UAE energy minister Suhail bin Mohammed Al Mazroui said that oil market fundamentals had not changed, and the Organisation of the Petroleum Exporting Countries (Opec) had not contributed to oversupply.   Speaking

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