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Opec ministers on Thursday decided to ”stay the course” and keep output steady as they bet on a strengthening economy to boost oil prices.
Gulf producers want to see strict compliance with recent output curbs of two million barrels a day before considering further reductions.
Oil fell to a barrel on Monday, extending the previous session’s steep losses.
Oil set a record above a barrel on Thursday as a drop in United States gasoline inventories raised concern of tighter supply and a weak dollar boosted investor demand for…
World oil demand will rise much less than expected in 2008 because of slower economic growth in the United States and other industrialised countries, the International Energy…
Opec is widely expected to resist consumer calls for more oil when it meets on Friday, worried by a slowing United States economy and the onset of seasonally lower demand in the…
Oil at a barrel should give exporters every incentive to pump more, but their difficulty in doing so shows the world is struggling to sustain production. A growing number of…
The Organisation of the Petroleum Exporting Countries (Opec) voiced concern on Tuesday over oil’s relentless rise towards $88 a barrel, but some members said the exporter group…
Oil surged to a record high above a barrel on Thursday on renewed worries over supply from major exporter Nigeria and as conflict between Israel and Lebanon heightened…
