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News
Saudi energy minister says market demands more oil in second half
Saudi Energy Minister Khalid al-Falih said on Wednesday that the market demands more oil in the second half of this year and that OPEC was converging on a good decision on production policy this week.
News
Iran signals compromise for modest rise in OPEC oil output
Iran signaled on Wednesday it could compromise on a small increase in OPEC oil output when the group meets this week, as Saudi Arabia scrambled to convince fellow members of the need for a larger rise in production.
News
Oil traders ready for musical chairs as China tariffs loom
Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.
News
Turkey opens TANAP pipeline that will bring Azeri gas to Europe
Turkey and Azerbaijan have inaugurated the TANAP pipeline that will bring gas to Europe while bypassing Russia. The project has won political support from both the United States and European Union.
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Russia tells EU gas supplies via Ukraine under no immediate threat
Russia’s Energy Ministry said on Saturday that gas giant Gazprom’s intention to terminate contracts with Ukraine poses no immediate threat to natural gas supplies to Europe through Ukraine.
News
Oil hits new two-and-a-half year highs as higher output looms
Oil prices rose on Wednesday to new two-and-a-half year highs as robust output in the United States and Russia balanced tensions from a sixth day of unrest in OPEC member Iran.
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Oil trades near strongest levels since mid-2015 on Iranian unrest
Oil prices posted their strongest start to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.
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Russia ready to support oil output deal as OPEC meeting looms
Russia said on Friday it is ready to support extending a deal among oil producers on cutting output, less than a week before OPEC meets in Vienna to discuss policy, although it has yet to say how long it should be for.
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