Bear Market in Oil May Last Another Decade
Bears are known for hibernating, but its the bulls in the oil market that might as well settle in for a long nap, according...
Oil Prices Remain Flat on Strong Supplies
Oil prices slipped in early Asian trade on Monday on a strong dollar as the odds grow of a June or July rate hike,...
UAE Plans to Lift Oil Production Capacity in 2013
The United Arab Emirates plans to raise its oil production capacity to 3 million barrels a day, from the current 2.8 million, during the...
2012 Oil Demand Outlook Lowered
Global oil demand in 2012 is expected to grow by 800,000 b/d from 2011, down from last month’s outlook for 1.1 million b/d of demand growth
Oil Seen Heading to $20 on Dollar Strength
A rapid appreciation of the U.S. dollar may send Brent oil to as low as $20 a barrel, according to Morgan Stanley.
Oil is particularly...
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...
OPEC issues Oil Market Highlights for May
The OPEC Secretariat has issued its monthly oil market report for May 2013.
Following are oil market highlights from the Monthly Oil Market Report by...
3rd Biggest OPEC Producer Cuts Fuel Subsidy as Oil Price Crash...
The United Arab Emirates, the third-biggest OPEC producer, will link gasoline and diesel prices to global oil markets starting 1st of August. It will...
Oil Market sees Correction
Last week, crude oil for November delivery slumped to a low of $74.95 per barrel and subsequently found a base before heading higher. Tuesday‘s...
GE Oil & Gas Awarded Contract Worth Over $200M for GASCO’s...
GE Oil & Gas has been awarded a contract worth over $200 Million, by Hyundai Engineering & Construction Company (HDEC), to supply...
Global Oil Demand Weakens, Bank Report
In November of last year, BofA expected global oil demand to grow by 0.95 million b/d in 2013. Now this number is revised down...
Oil prices will test $30 a barrel sooner rather than later
On Friday, OPEC said it would keep its production level unchanged, basically legitimizing the 1.5 million barrels a day it has been producing over...
Crude Oil Prices Extend Gains
Crude oil prices extended gains in early Asia trade Monday as the market turned more bullish on expectations of smaller supply and growing demand.
On...
Saudi Arabia, Russia and two other countries agree on oil production...
Saudi Arabia's oil minister has agreed to freeze oil production at January levels, indicating that the country may be willing to reassess its "lower...
First UAE company enters Northern Iraq’s oil exploration, production
BlackGold - a fully owned subsidiary of Al Zarooni Enterprises - has become one of the first UAE companies to enter the lucrative energy...
OPEC likely to increase oil production
OPEC oil ministers are set to hold a regular ministerial meeting in Vienna on June 8, to mull the market’s supply and demand and...
Oil rallies as stockpile growth slows
Oil rallied in early Wednesday trade in Asia after the biggest two-day slump in a month as U.S. industry data showed the pace of...
Crude price recovery remains long term perspective; Oil production expected to...
The idea that oil prices will bottom out, and a period of retrenchment will begin, isn’t entirely new. Investments in exploration and production are...