Tag: oil price

Wednesday, December 3rd 2014 - 09:25 UTC
Russian ruble suffers its biggest one day skid since 1998

The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention.
Friday, November 28th 2014 - 06:23 UTC
Oil price plunges as OPEC decides against cutting output despite world glut

Brent and US crude oil plunged as much as 6.50 dollars a barrel on Thursday, the steepest one-day falls since 2011 following on OPEC's decision against cutting output despite a huge oversupply in world markets.
Friday, November 14th 2014 - 07:27 UTC
Falklands accepts Premier's 'realistic solution' to current world oil price environment

The Falkland Islands Government said on Thursday it took notice of the announcement by Premier Oil of their revised proposal for commercial oil production in the Falkland Islands, which “it is considered represents a realistic solution to progress development in the current international oil price environment”.
Friday, November 14th 2014 - 07:13 UTC
Early signs of a pullback in drilling activity

With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending. Oil prices have dropped around 30% since summer highs, raising fears among producers across the globe.
Thursday, November 13th 2014 - 05:44 UTC
Crude price falls to a three year low, created by shale boom and Libya restart

West Texas Intermediate, WTI crude closed at a three-year low on Wednesday with prices under pressure from the growing oil glut created by the U.S. shale boom and the restart of Libya's largest operational oilfield.
Friday, October 17th 2014 - 06:53 UTC
Russia's Gazprom forecasts oil at 70 dollars a barrel in the short term

The global oil market slump looks likely to continue, with prices possibly nearing 70 dollars a barrel in the short term, an official of Russian gas producer Gazprom said. Crude fell more than on dollar a barrel on Thursday to a four-year low below 83 a barrel as growing concerns over the global economy stretched a four-month rout.
Wednesday, October 15th 2014 - 08:16 UTC
Oil prices hit new lows with prospects of further slide; excess supply, weak demand

Global oil prices have fallen further after the International Energy Agency (IEA) reported higher output and cut its forecast for demand growth. Brent crude fell 2.72 to 86.17 dollars a barrel before seeing a slight recovery, while US crude dropped 1.75 to 83.99.
Friday, October 3rd 2014 - 07:11 UTC
Oil at its lowest point in more than two years as Saudis defend market share

Price cuts by key exporter Saudi Arabia helped send global crude prices to their lowest point in more than two years Thursday before they recovered in late trade.
Saturday, August 30th 2014 - 07:10 UTC
Venezuela cheap oil and fuel shipments to allies fall to a five-year low

Venezuela’s shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former president Hugo Chávez struck to lower energy costs for friends and expand his diplomatic clout.
Wednesday, February 5th 2014 - 22:59 UTC
US, the world's largest producer of oil approves licenses to export crude to Europe

The United States government has approved at least four licenses to export crude oil to Europe, for the first time in years, showing how companies are breaking through the limits of the export ban established in the 1970s, according to Reuters which learned about the fact from a Freedom of Information Act request.