Sunday 7 February 2016
 
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Glut

Oil rises above $30 on hopes of deal to tackle glut

Oil rose further above $30 a barrel on Tuesday, lifted by hopes that Opec and non-Opec producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades. The Organisation of the Petroleum Exporting Coun

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Moody's cuts oil price estimates as supply glut continues

Moody's Investors Service has reduced its price estimates for Brent crude and West Texas Intermediate crude amid continued oversupply in the oil markets and the risk of additional supply from Iran.   It has l

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Oil prices fall further on glut worries

Crude futures slumped again in early Asian trade on Wednesday, with US oil falling to its lowest since September 2003 below $28 a barrel on worries over a global supply glut. That came as the International Energy Agency, which adv

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Oil prices fall further on glut worries

Crude futures slumped again in early Asian trade on Wednesday, with US oil falling to its lowest since September 2003 below $28 a barrel on worries over a global supply glut. That came as the International Energy Agency, which adv

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Iran oil exports may rise by 500,000 bpd within year after sanctions

Iran's crude oil exports could rise by half a million barrels per day within 6-12 months once sanctions against it are lifted, the International Energy Agency (IEA) said on Monday, adding to a glut that has pulled Brent prices to levels la

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Oil tumbles towards 11-year low on glut fears

Oil prices tumbled 4 per cent on Monday, coming close to their 11-year low, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading Opec and non-Opec producers. Brent crude fel

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Oil slides to new 7-year low as IEA warns of worse glut

Crude oil prices hit fresh seven-year lows on Friday as the International Energy Agency (IEA) warned global oversupply could worsen in the new year.   Brent slipped below $39 per barrel for the first time since D

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Opec officials question upbeat outlook ahead of policy meeting

The Organization of the Petroleum Exporting Countries (Opec) officials questioned an upbeat forecast from the group's researchers in a meeting ahead of next week's gathering of oil ministers, with some sceptical there will be a quick e

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Oil prices slide on China worries, supply glut

Crude oil futures fell on Friday, bringing losses this month to close to nine per cent, as disappointing Chinese data and worries over a supply glut overshadowed geopolitical concerns.   The US dollar, which stoo

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Oil falls as spotlight returns to global glut

Crude oil futures fell on Wednesday as investor focus shifted back to a deep global supply glut and away from the threat of escalating violence in the Middle East, which pushed prices to two-week highs the previous day.

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