Latest articles on Organisation Of The Petroleum Exporting Countries

Oil price surges to record high above $127

The price of oil rocketed to a record high point of $127,43 per barrel on Friday, as United States President George Bush prepared to urge Saudi Arabia to pump more crude. New York's main oil futures contract, light sweet crude for June delivery, beat the previous all-time peak of $126,98 set on Tuesday owing to worries about tight supplies.

Oil demand set to ease, says energy agency

Record oil prices and a slowdown in advanced economies are set to curb global oil demand despite growth in China and the Middle East, the International Energy Agency (IEA) forecast on Tuesday, saying stockpiling was a key factor. Demand from emerging economies might be set back if and when governments decide that fuel subsidies are unsustainable, the IEA said.

Oil price vaults past $126

The price of New York crude oil soared above $126 per barrel on Friday, lifted by speculative demand amid concerns about tight global energy supplies, analysts said. New York's main oil futures contract, light sweet crude for June delivery, spiked as high as $126,20 in London trading hours.

Oil price surges past $125

The price of New York crude oil surged past $125 per barrel on Friday, lifted by speculative demand amid concerns about tight global energy supplies, analysts said. New York's main oil futures contract, light sweet crude for June delivery, spiked as high as $125,98 in early afternoon London trading.

Oil price hits another record near $125

World oil prices hit a fresh record high point close to $125 per barrel on Friday, extending this week's record run after the Organisation of the Petroleum Exporting Countries insisted the market was well-supplied and driven by speculators. New York's main oil futures contract, light sweet crude for June delivery, spiked to an historic $124,73 per barrel.

Oil prices pause within sight of $120

World oil prices paused within sight of the $120 level on Thursday after a mixed report on United States energy stockpiles, dealers said. In Asian afternoon trading, New York's main oil futures contract, light sweet crude for delivery in June, slipped 25 cents to $118,05 per barrel.

Concern mounts as oil price nears $120

International concern mounted as world oil prices edged closer to $120 a barrel Wednesday and the world's top producer called for calm. Analysts said a weakening United States dollar, supply worries in Nigeria and the reluctance of the Organisation of the Petroleum Exporting Countries to increase output have all contributed to the price surge.

vital information

The Mail & Guardian’s essential coverage of the ongoing coronavirus crisis is free to read for everyone.

If you would like to support us, please consider taking out a subscription.

Latest

Press Releases

UNISA hosts its first TEDx event

The Elephant in the Room Tedx event at UNISA will help to create meaningful change in South Africa through the power of ideas

SA’s SEZs create decent jobs

The Special Economic Zone programme is used as a critical tool for accelerating the country’s industrial development agenda

The new normal in tourism is business unusual

Innovation and changing trends have kept some tour operators in the green, though most have struggled during the tight lockdown

TENDER NO. BOBS 05/2020 PROVISION OF CERTIFICATION SERVICES TO BOTSWANA BUREAU OF STANDARDS QUALITY MANAGEMENT SERVICES

The Botswana Bureau of Standards (BOBS) invites tenders from reputable companies for the provision of certification services

The Galaxy Z Fold2 smartphone breaks all the rules

The Galaxy Z Fold2 has meaningful innovations that offer users enhanced refinements and some unique foldable user experiences

Adventures, ghost tours and big skies await visitors to the Cape Winelands

All of the CWDM destinations are accessible within a 30- to 120-minute drive from Cape Town, creating real value for money

SingularityU Online Summit to contribute to SME growth in 2020

The global speakers lined up for this year's event will address the challenges and opportunities specifically facing small businesses

Policy priorities lie with urgent economic reforms

Professor Raymond Parsons believes that business and consumer sentiment in South Africa would both benefit from even lower borrowing costs

The best local and international journalism

handpicked and in your inbox every weekday