International Organizations OPEC

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  • TOKYO, July 6- Oil prices fell in Asian trading amid wider market turmoil set off by mounting concerns over the economic impact of Britain's vote to leave the European Union. U.S. crude was down 31 cents at $46.29 a barrel at 0158 GMT. The contract fell 5 percent to end at $46.60 on Tuesday as U.S. investors digested news of an OPEC increase in production after the July 4...

  • TOKYO, July 6- Oil prices were up slightly in early Asian trading on Wednesday after sharp falls in the prior session, but gains were limited by ongoing concerns about the economic impact of Britain's vote to leave the European Union and a glut of crude. The contract fell 5 percent to end at $46.60 on Tuesday as U.S. investors got to digest news of an OPEC increase in...

  • An oil pump jack in the oil town of Gonzales, Texas.

    Oil prices tumbled as investors worried Britain's exit from the European Union would slow the global economy.

  • LONDON, July 5- "How much oil lies beneath the desert sands of Saudi Arabia and how long will it last before running out?" The kingdom has proven reserves of 266 billion barrels according to government estimates submitted to the Organization of the Petroleum Exporting Countries. If these numbers are correct, Saudi Arabia's reserves will last for another 70 years...

  • ABUJA, July 4- Nigerian President Muhammadu Buhari has replaced Oil Minister Emmanuel Ibe Kachikwu as group managing director of state oil company NNPC as part of a wider board overhaul. Oil accounts for about 70 percent of Nigeria' revenue, but the OPEC member has been hit hard by a prolonged drop in crude prices that has caused the deepest crisis in Africa's...

  • *Saudis, OPEC say oil market heading into balance. LONDON/ CALGARY, July 4- Global oil prices eased on Monday after comments by Saudi Energy Minister Khaled Al-Faleh that the market was heading towards balance were tempered by slowing demand in Asia, pockets of gasoline oversupply and signs crude output could rise. The energy minister of Saudi Arabia, the world's...

  • ABUJA, July 4- Nigerian President Muhammadu Buhari has replaced Oil Minister Emmanuel Ibe Kachikwu as group managing director of state oil company NNPC as part of a wider board overhaul. Oil accounts for about 70 percent of Nigeria' revenue, but the OPEC member has been hit hard by a prolonged drop in crude prices that has caused the deepest crisis in Africa's...

  • *Saudis, OPEC say oil market heading into balance. LONDON/ CALGARY, July 4- Global oil prices eased on Monday after comments by Saudi Energy Minister Khaled Al-Faleh that the market was heading towards balance were tempered by slowing demand in Asia, pockets of gasoline oversupply and signs crude output could rise. The energy minister of Saudi Arabia, the world's...

  • *Saudis, OPEC say oil market heading into balance. LONDON, July 4- Oil prices eased on Monday after comments by Saudi Energy Minister Khaled Al-Faleh that the market was heading towards balance were tempered by signs of slowing demand in Asia. The energy minister of Saudi Arabia, the world's top crude exporter, and the secretary general of producer club OPEC agreed...

  • *Saudis, OPEC say oil market heading into balance. LONDON, July 4- Oil prices rose on Monday after Saudi Energy Minister Khaled Al-Faleh said that the market was heading towards balance, although signs of slowing demand in Asia weighed. The energy minister of Saudi Arabia, the world's top crude exporter, and the secretary general of producer club OPEC agreed that...

  • Oil worker Ohio

    Oil prices rose following comments from the Saudi energy minister, but signs of slowing demand in Asia weighed.

  • *Saudis, OPEC say oil market heading into balance. LONDON, July 4- Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed. The energy minister of Saudi Arabia, the world's top crude exporter, and the secretary general of producer club OPEC agreed that...

  • *Saudis, OPEC say oil market heading into balance. TOKYO/ SINGAPORE, July 4- Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed. "The bulls are seemingly once again on their relentless march to keep this market above $50," said Matt Stanley of oil...

  • *Saudis, OPEC say oil market heading into balance. TOKYO/ SINGAPORE, July 4- Oil futures were steady on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed. The energy minister of Saudi Arabia, the world's top crude exporter, and the secretary general of producer club...

  • British Chancellor George Osborne addresses guests during a visit to the Manchester Chamber of Commerce on July 1, 2016 in Manchester, England.

    George Osborne plans to cut corporation tax to less than 15% to woo businesses nervous of post-Brexit Britain, the FT reports.

  • DOHA, July 4- The energy minister of Saudi Arabia, the world's largest oil exporter, and the secretary general of OPEC agree that the global oil market is heading toward a balance and that prices are starting to settle, according to comments carried by Saudi state news agency SPA. The statement said Khalid al-Falih and the Organization of the Petroleum Exporting...

  • *Militants seek greater share of Nigeria's oil wealth. The group had previously not laid claim to any attacks in the Niger Delta- the source of most of the OPEC member's oil- since June 16. Attacks in the Niger Delta have pushed Nigerian crude production to 30- year lows, although the Nigerian National Petroleum Corporation said last week that output was rising...

  • *Militants seek greater share of Nigeria's oil wealth. Until today, the group had not laid claim to any attacks in the Niger Delta-- the source of most of the OPEC member's oil-- since June 16. Attacks in the Niger Delta have pushed Nigerian crude production to 30- year lows, although the Nigerian National Petroleum Corporation said last week that output was rising due...

  • LAGOS, July 3- The Niger Delta Avengers, a militant group which has carried out a series of attacks on Nigerian oil facilities in the last few months, on Sunday said it had mounted five attacks in the southern energy hub since Friday. Attacks in the Niger Delta pushed crude production in the OPEC member to 30- year lows in recent weeks, although the Nigerian National...

  • LONDON, July 2- Once-rival leaders of Libya's National Oil Corporation have agreed on a structure for the group that aims to put to rest squabbles over who has the right to export the country's oil, according to a statement. Oil industry leaders in OPEC- member Libya have said they could quickly double production to over 700,000 bpd if conditions stabilized.