Energy

 Oil prices climbed for a fifth session in a row on Monday, rallying from December’s 18-month low thanks to OPEC production cuts and more stable equity markets. Oil has gained nearly 12 percent since last Monday, its biggest week-on-week rally since early December 2016. Brent crude oil LCOc1 was up $1 at $58.06 a barrel […]

     Oil prices rebounded on Thursday after an early slide, helped by dollar weakness and signs of output cuts by the world’s top crude exporter Saudi Arabia that eased concerns about a glut.    International Brent crude futures were up 94 cents at $55.85 a barrel by 1340 GMT. U.S. West Texas Intermediate                         oil futures […]

Oil edged up to $51 a barrel on Wednesday after reaching its lowest since June 2017 on perceptions that a price slide prompted by worries over the global economy had been overdone amid an OPEC-led effort to tighten supply. Crude has been caught up in wider financial market weakness as the U.S. government shutdown, higher […]

Total SA is poised to start exports of crude from a major new offshore field in Nigeria, adding to global supplies at a time when oil prices are plunging. Bloomberg says shipments of Egina crude from a floating offshore production vessel have been scheduled for February, according to a copy of a loading program for […]

Even before taking over Qatar’s energy policy in a government reshuffle last month, Qatar Petroleum (QP) CEO Saad al-Kaabi had long wanted the Gulf state to leave OPEC. Kaabi was concerned OPEC membership could be a stumbling block for QP’s ambitions in the United States, where it has one of the world’s biggest LNG terminals, […]

· · Oil rose to about $61 a barrel on Wednesday, supported by an industry report showing a drop in U.S. crude inventories, a cut in Libyan exports and an OPEC-led deal to trim output. The American Petroleum Institute (API) said on Tuesday that U.S. crude inventories dropped by 10.2 million barrels last week, more […]