Tag: oil price

• Wednesday, February 7th 2018 - 14:41 UTC

  Oil Prices Ravaged By Financial Turmoil

  

  By Nick Cunningham of Oilprice.com
  
  Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market.

• Wednesday, January 17th 2018 - 09:32 UTC

  Hard times in Cuba: electricity and fuel cuts, slashed imports and payments to suppliers delayed

  

  Cuba has not provided a detailed breakdown of key economic activity in its annual statistical abstract for the first time this century, leaving would-be investors more in the dark than usual about the cenrtralized-run economy.

• Wednesday, November 8th 2017 - 10:50 UTC

  Oil markets settle lower, but prospects are in place for prices to continue climbing

  

  Oil settled lower on Tuesday after rising to the highest since July 2015 the previous day, while tension flared between Saudi Arabia and Iran, and the Saudi crown prince tightened his grip on power.

• Monday, July 10th 2017 - 17:45 UTC

  Don't hold your breath for deeper OPEC cuts

  

  The rally in oil prices over the past two weeks came to a halt on news that OPEC is actually exporting more oil than previously thought. A month ago, oil prices appeared to be higher than they should have been, with weak demand, elevated inventories, and a recognition that the nine-month OPEC extension would be inadequate to balance the market.

• Thursday, May 25th 2017 - 19:07 UTC

  Today's stunted oil prices could cause oil price shock in 2020

  

  As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil's immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. shale production will continue to grow along with global demand.

• Thursday, September 15th 2016 - 10:34 UTC

  Falklands' Sea Lion oil project break-even price reduced to US$ 45 a barrel

  

  Falkland Islands oil explorer Rockhopper Exploration Plc has confirmed cost cuts at its Sea Lion project, which will reduce the scheme´s break-even price to US$ 45 a barrel. Capital investment at Sea Lion to reach first oil is now estimated at US$ 1.5bn.

• Monday, May 9th 2016 - 07:33 UTC

  Massive protest in Comodoro Rivadavia against the oil industry weak activity

  

  More than 50,000 workers blocked the centre of Comodoro Rivadavia, in Argentina's Patagonia main oil-producing region in a protest against layoffs. Striking oil workers were joined by teachers, truck drivers, builders and other sectors in the demonstration.

• Monday, April 18th 2016 - 08:40 UTC

  Leading oil exporters can't agree to cap production; Iran did not attend

  

  The meeting of the world's leading oil exporters to discuss capping production has ended without agreement. After hours of talks in Qatar, the country's energy minister Mohammed bin Saleh al-Sada said that the oil producers needed “more time”.

• Wednesday, February 17th 2016 - 11:04 UTC

  Main oil exporters agree to freeze production, ...if all leading producers join

  

  Four of the world's biggest oil-producing nations moved to freeze their production on Tuesday to try to halt the 70 percent drop in the price of crude because of a glut of oil on world markets. The agreement was reached by the oil ministers of Russia and three members of the Organization of the Petroleum Exporting Countries, Saudi Arabia, Venezuela and Qatar, during a closed-door meeting in Doha, the Qatar capital.

• Saturday, January 30th 2016 - 12:31 UTC

  US growth slows down sharply to 0.7% annually in the fourth quarter

  

  As anticipated by the Federal Reserve's report earlier this week, US economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports.