Business / Energy

Saudi Aramco CEO sees year-end oil price recovery 26 Jan 2016 - 05:33 pm

Mr. Amin al-Nasser, president and chief executive officer of Saudi Aramco. Riyadh: Global crude prices should recover near the end of this year,...

Oil rises further above $30 on hopes of deal to tackle glut 26 Jan 2016 - 05:09 pm

By Alex Lawler LONDON: Oil rose further above $30 a barrel on Tuesday, lifted by hopes that OPEC and non-OPEC producers may be...

Kuwait says OPEC can't cut alone when others are raising output 26 Jan 2016 - 10:55 am

KUWAIT: OPEC cannot cut its oil output alone when other producers from outside the exporting group are raising their supplies but both sides...

Cheap oil: boon for some, bust for others 26 Jan 2016 - 08:35 am

A general view of Oil & Gas Processing Plant on oil fields operated by a subsidiary of the KazMunayGas Exploration Production JSC in...

US crude below $30 as prices extend losses 26 Jan 2016 - 08:14 am

Singapore: US crude fell back below $30 a barrel as world oil prices extended their losses in Asia Tuesday after worries about the...

Oil falls 3 percent on swelling oversupply 25 Jan 2016 - 03:11 pm

A worker carries out maintenance at an oil well on oil fields operated by a subsidiary of the KazMunayGas Exploration Production JSC in...

Qatar sees oil market rebalancing after one more downturn cycle 25 Jan 2016 - 03:01 pm

LONDON: Oil markets are poised to rebalance after going through a period of weakness as low oil prices cannot last long, the Minister...

Oil prices extend rise above $32 in Asia on demand hopes 25 Jan 2016 - 08:18 am

Singapore: Oil prices extended their rally in Asia Monday buoyed by hopes of extra stimulus measures in the eurozone and Japan that could...

Japan's 2015 trade deficit narrows as oil prices tumble 25 Jan 2016 - 07:47 am

Tokyo: Falling energy prices helped shrink Japan's annual trade deficit by 78 percent in 2015, while a weaker yen boosted exports, led by...

Saudi wants balanced market, not end to shale oil -Aramco's Falih 24 Jan 2016 - 12:33 pm

DUBAI: Saudi Arabia, the world's largest oil exporter, does not want an end to shale oil but a balanced oil market where all...

Saudis slam 'irrational' oil price as market tanks under $27 23 Jan 2016 - 12:00 am

File photo of Saudi Aramco Chairman Khalid al-Falih. London: The world's biggest oil exporter Saudi Arabia declared this week that ultra-low oil prices...

Oil price drift lower before US inventories update 21 Jan 2016 - 03:13 pm

London: World oil prices nudged lower Thursday before a key US snapshot of crude stockpiles, one day after striking 12 year lows on...

Oil prices rebound in Asia but glut woes remain 21 Jan 2016 - 09:14 am

Singapore: Oil rose in Asia Thursday, giving a much-needed breather to the battered crude market, but traders remain on edge as the supply...

Shell expects huge profits decline on oil price plunge 20 Jan 2016 - 12:13 pm

File picture for representation only. London: Royal Dutch Shell on Wednesday said it expected a sharp decline in full-year net profits, as plunging...

US crude falls below $28 as IEA warns market could 'drown in oil' 20 Jan 2016 - 09:17 am

A pump jack stands idle in Dewitt County, Texas. (file photo) Singapore: US crude tumbled below $28 a barrel in Asia on Wednesday,...

Iraq aims to cut spending on oil companies as prices dive 19 Jan 2016 - 06:52 pm

Baghdad: Iraq said on Tuesday that it is seeking to reduce the amount it spends on foreign oil companies as plummeting crude prices...

IEA says oil market to remain oversupplied until late 2016 19 Jan 2016 - 11:59 am

File picture for representation only. Paris: Unseasonably warm weather and rising supply will keep the crude oil market oversupplied until at least late...