Tag: oil price

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.
Thursday, September 26th 2013 - 21:04 UTC
A sugar rush that could fuel the economy

By R. Viswanathan (*) - India should take its cue from Brazil and invest in ethanol as a viable commercial substitute for costly petrol.
Wednesday, December 26th 2012 - 07:17 UTC
Fuel-price controls force Brazil to import 12bn dollars in oil and refined products

Brazil faces record trade deficits in petroleum products in 2012 and 2013 as a result of government fuel-price controls, problems with its refining system and rising consumer demand, the Folha de S. Paulo newspaper reported last weekend.
Thursday, August 23rd 2012 - 00:50 UTC
Where’s the cheapest to ‘fill her up’? Venezuela: 12.8 US cents a liter of petrol

Venezuela, the latest entry as full member of Mercosur has the cheapest petrol price in the world, 8 pennies per liter, (1 £ trading at 1.59 dollars on 22 August) according to the latest report from UK website, “This is money”, based on a research from Evans Halshaw.
Thursday, July 12th 2012 - 06:57 UTC
China cuts retail fuel prices 5%, the third cut in two months

China, the world's second biggest consumer of fuel, has cut retail oil prices by about 5% with immediate effect. This is the third cut in two months, and some analysts say could be an attempt to increase fuel consumption. Demand for oil fell for the first time in three years in April.