Monday 26 January 2015
 
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New Saudi king ‘holding line on Opec policy’

Saudi Arabia's new king is expected to continue a policy of keeping oil output steady to drive out rival producers, though the royal succession has focused market attention on the future of the kingdom's long-serving oil minister.

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Oil prices slip on Chinese data, record Iraq output

Brent crude oil prices fell below $50 a barrel on Monday after the global economic outlook darkened and Iraq announced record oil production. The world's biggest energy consumer, China, faces significant downward pressure on i

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No Opec output cut likely even as oil below $50

Saudi Arabia and its Gulf Opec allies are showing no sign of considering cutting output to boost oil prices, even though they dipped below $50 a barrel this week. Opec decided against limiting production at its last meeting on Nov

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Saudi, UAE non-oil growth edge up

Growth in Saudi Arabia's non-oil private sector accelerated slightly in December, driven by an expansion in output, though it remained weaker than it was in most of 2014, a survey of businesses showed on Tuesday. Meanwhile, bu

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Saudi, UAE non-oil growth edge up

Growth in Saudi Arabia's non-oil private sector accelerated slightly in December, driven by an expansion in output, though it remained weaker than it was in most of 2014, a survey of businesses showed on Tuesday. Meanwhile, bu

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Oil edges above $60 as Libyan output slumps

Oil edged above $60 a barrel on Friday as unrest in Libya cut supplies, offsetting a growing supply glut in top consumer the United States and weak imports by Japan. Fighting in Libya has cut output there to 352,000 barrels a day,

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Saudi says 'won't cut output even if non-Opec nations do'

Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non-Opec nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years.

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Iraq oil minister says total production to reach 4 mbpd

Iraq Oil Minister Adel Abdel Mahdi said Iraq's total oil production would reach four million barrels per day (mbpd) after Baghdad reached an agreement on exports with Kurdish regional authorities.

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Despite pain, Opec hawks come round to merits of riding out oil slump

Opec members which backed an output cut at the group's meeting last month are coming around to the view of Saudi Arabia that they need to focus on market share, further reducing the chance of any action to de

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Opec's decision to retain market share, says Kuwait

Kuwait's oil minister said that Opec's decision last month to keep output unchanged was intended to retain market share, even if it meant that it "would negatively affect prices, state news agency

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