Oil bounced back $1 to trade above $47 a barrel on Monday on signs that OPEC members are set to make a deep supply cut when the oil cartel meets later this week, in an effort to prop up prices. For full story, click here
Oil prices were steady near $51 a barrel in Asia as investors weighed more bad economic news from the US that sparked a sell-off of crude overnight. For full story, click here
Falling crude oil prices have proven to be a double-edged sword for oil marketing companies For full story, click here.
Surging demand from emerging economies sent oil and other commodities on a six-year rally. For full story, click here
Pressure is build due to OPEC’s decision to leave output unchanged and growing gloom about the global economy. for full story, click here
The current global credit crisis and an over 63 per cent fall in crude oil prices in the last four months have resulted in oil companies drilling fewer wells in offshore areas. For full story, click here
Capgemini points out that the decline in oil prices is very bad news for future oil supplies. For full story, click here
Oil prices were steady near $51 a barrel in Asia as investors weighed more bad economic news from the US that sparked a sell-off of crude overnight. For full story, click here
U.S. crude futures settled lower yesterday below $50 a barrel, the lowest closing level since May 2005 because of the week economic growth as the world is frozen in a recession phase. For full story, click here
Oil prices Thursday hit levels not seen in more than three years and retail gasoline prices are below $2 across nearly half of the country on dour economic reports suggesting a painful economic pullback. For full story, click here
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