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  • ABU DHABI, Dec 21- OPEC Secretary-General Abdullah al-Badri told Reuters on Sunday he hoped to see a recovery in the price of oil by the end of the second half of 2015.. "We hope the price would rebound by the end of the second half of 2015," he said. "We can't see the market now, we have to wait until the end of the second half of 2015 to see how the market react to these low...

  • OPEC SEC-GEN BADRI: WE HOPE OIL PRICE WILL REBOUND BY END OF SECOND HALF OF 2015.

  • ABU DHABI, Dec 21- Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non- OPEC nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years. "If they want to cut production they are welcome: We are not going to cut, certainly Saudi Arabia is not going to cut."

  • ABU DHABI, Dec 21- Saudi Arabian Oil Minister Ali al-Naimi said on Sunday the kingdom would not reduce production to prop up petroleum markets even if non- OPEC nations cut output. "If they want to cut production they are welcome, we are not going to cut, certainly Saudi Arabia is not going to cut," he said. He added he was "100 percent not pleased" with oil prices.

  • SAUDI'S NAIMI SAYS SAUDI ARABIA WILL NOT CUT OIL PRODUCTION EVEN IF NON-OPEC PRODUCERS CUT.

  • Saudi oil chief: No conspiracy behind oil prices Sunday, 21 Dec 2014 | 5:57 AM ET

    Non- OPEC member Russia and other nations like Iraq, Iran and Venezuela need prices substantially above present levels to meet budget goals and want to drive prices up. An OPEC meeting last month failed to agree on production cuts, mainly because of Saudi opposition to curb its own exports. OPEC controls about 40 percent of the world oil market and Saudi Arabia is...

  • ABU DHABI, Dec 21- The United Arab Emirates oil minister urged all of the world's producers on Sunday not to raise their oil output next year, saying this would quickly stabilise prices. "We invite everyone to do what OPEC did and take a step to balance the market through not offering additional products in 2015, and if everyone abides by OPEC decision, the market...

  • At a meeting in November, OPEC kept its target output of 30 million barrels per day unchanged, leaving the market to balance itself without the group's intervention. That stance was seen as a shift from a longstanding policy in which OPEC powerhouse Saudi Arabia acts as a swing supplier. Speaking in Abu Dhabi, the capital of the United Arab Emirates, he said: "The talk...

  • DUBAI, Dec 21- Saudi Arabia's oil minister said on Sunday non-cooperation by producers outside of the Organisation of the Petroleum Exporting Countries and the actions of speculators had led to the oil price fall, but he was confident the market would improve. In a speech in Abu Dhabi, the minister, Ali al-Naimi, denied politics played a role in the kingdom's oil...

  • DUBAI, Dec 21- Saudi Arabia's oil minister said on Sunday non-cooperation by producers outside of the Organisation of the Petroleum Exporting Countries and the actions of speculators had led to the oil price fall, but he was confident the market would improve.

  • SAUDI OIL MINISTER: NON-COOPERATION OF OIL PRODUCERS OUTSIDE OPEC, AND SPECULATORS, LED TO PRICE SLIDE.

  • IRAQ OIL MIN SAYS WILL HAVE TO WAIT AND SEE WHETHER OPEC MADE THE RIGHT DECISION.

  • ABU DHABI- IRAQ OIL MINISTER SAYS SEES NO NEED FOR EMERGENCY OPEC MEETING.

  • ABU DHABI, Dec 21- One of the biggest reasons for the slide of oil prices is the "irresponsible" supply from producers outside OPEC, the United Arab Emirates oil minister said in a speech on Sunday. One of the big reasons is the irresponsible production of some producers from outside OPEC. " Mazroui also said the recent decision of OPEC not to cut its production was...

  • TRIPOLI, Dec 20- Libya's internationally recognised government aims to set up a new payment system to receive oil revenues, bypassing the central bank based in Tripoli, the capital city that is no longer under its control, its top oil official said on Saturday. The OPEC oil producer has had two parallel governments and parliaments since August when a group called...

  • The price of cheap oil: Friedman  Friday, 19 Dec 2014 | 8:09 AM ET

    Thomas L. Friedman, The New York Times, weighs in on the global impact of falling crude prices.

  • Oil technology's hope for the future  Friday, 19 Dec 2014 | 7:34 AM ET

    Former Shell President John Hofmeister, shares his thoughts on New York's fracking ban, and natural gas as a transportation fuel.

  • LONDON, Dec 19- Brent crude oil rose to around $60 a barrel on Friday, rallying from near a 5-1/ 2- year low as investors squared books ahead of the year-end festive break after six months of falling prices. Oil prices were on track for a fourth straight week of declines after OPEC members last month decided against cutting production despite a huge global overhang...

  • LONDON, Dec 19- Brent crude oil rose above $60 a barrel on Friday, recovering from near a 5-1/ 2- year low as investors squared books ahead of the year-end festive break after six months of falling prices. Oil prices were on track for a fourth straight week of declines after OPEC members last month decided against cutting production despite a huge global overhang of...