|Staff Reporter |||Apr 13, 2020 07:21 PM EDT|
After weeks of talks and negotiations, the world's top oil producers have finally agreed to cut global crude output by a historic margin.
|S. Rina |||Jan 14, 2017 03:09 AM EST|
Oil prices are on the upswing following the news of production cuts by major crude exporters including Russia and Saudi Arabia. The demand from China is also projected to be all time high, further fueling the price trend for the commodity.
|Steve M.C. |||Nov 13, 2016 12:02 PM EST|
A Chinese official has confirmed the possibility of China meeting its yearly target of reducing its over congested steel and coal industry.
|S. Rina |||Sep 28, 2016 12:53 PM EDT|
Members of the Organization of Petroleum Exporting Countries (OPEC) are scheduled to hold an informal meeting in Algiers later this week. The continuous decline in oil prices is likely to be the main agenda at the meeting. However, experts believe that China's oil reserves may subvert any decision taken by OPEC members to push up petroleum prices.
|Dino Lirios |||Jan 13, 2015 10:48 PM EST|
Brent crude oil has fallen below US$50, marking its lowest level since early 2009. It is now at a six-year low.
|Vittorio Hernandez |||Dec 22, 2014 03:33 AM EST|
The continuing drop in the price of oil in the international market gave American motorists an advanced Christmas present as price of regular-grade gasoline went down to a five-and-a-half-year low of US$2.47 per gallon.
|Dan Weisman |||Nov 28, 2014 01:28 AM EST|
Meeting in Vienna, Austria, Thursday, the Organization of the Petroleum Exporting Countries (OPEC) decided not to curtail oil production despite rapidly falling crude oil prices.
Failure Of OPEC To Assure Market That Oil Price Won’t Collapse Causes 4.1% Drop In WTI Net-Long Positions
|Vittorio Hernandez |||Nov 24, 2014 03:55 AM EST|
The once very powerful oil cartel, the Organization of Petroleum Exporting Countries (OPEC), is not impressing hedge fund managers over the group's failure to assure the market that oil prices won't collapse.
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