Gulf Times - oil
Oil steadies near two-year highs as geopolitics offset US supply

Oil steadies near two-year highs as geopolitics offset US supply

Oil was largely steady on Monday, trapped between a bullish push from tension in the Middle East and downward pressure from evidence of rising US production ...

Oil stable on slightly tighter market, strong demand

Oil stable on slightly tighter market, strong demand

Oil prices were stable on Monday, supported by supply concerns in the Middle East and declining US drilling activity, although analysts warned that the United States market may not be tightening by as much as expected.

US-backed forces seize major Syria oilfield

US-backed forces seize major Syria oilfield

A US-backed Arab-Kurd alliance announced on Sunday it had retaken one of Syria's largest oilfields from the Islamic State group in the east of country.

China confirms will limit oil exports to North Korea

China confirms will limit oil exports to North Korea

China will limit exports of refined petroleum products to North Korea starting October 1, its commerce ministry said, confirming Beijing's participation in new UN sanctions intended to rein in its rogue neighbour.

Oil market moving back into balance: IEA

Oil market moving back into balance: IEA

There are signs the global oil market is returning to balance and stocks of oil products in industrialised nations could soon fall below their five-year average, the IEA said Wednesday.

Iran to raise oil production to 4.5 million bpd within five years

Iran to raise oil production to 4.5 million bpd within five years

Iran will reach an oil production rate of 4.5 million barrels per day (bpd) within five years, Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), said ...

Venezuela to sell oil in currencies other than dollar

Venezuela to sell oil in currencies other than dollar

Venezuelan President Nicolas Maduro announced Friday his government will sell oil and other commodities in currencies other than the dollar, in a bid to weather US-imposed sanctions on the embattled country.

France's Total to buy Maersk Oil for $7.45 billion

France's Total to buy Maersk Oil for $7.45 billion

French oil giant Total said Monday that it would buy Maersk Oil, a unit of the Danish shipping giant A.P. Moller-Maersk, for $7.45 billion (6.35 billion euros).

Iran parliament clears oil, foreign ministers for new cabinet

Iran parliament clears oil, foreign ministers for new cabinet

The Iranian parliament voted on Sunday to keep the oil and foreign ministers, two of pragmatist President Hassan Rouhani's key members of cabinet, in their posts.

Kuwait starts chemicals injection in northern oil reservoirs

Kuwait starts chemicals injection in northern oil reservoirs

Kuwait has begun injecting chemicals into complex oil reservoirs to extract heavier grade oil, in the first operation of its kind in the Middle East, state-owned Kuwait Oil Co said on Sunday.

Total to sign $4.8 bn gas deal with Iran: oil ministry

Total to sign $4.8 bn gas deal with Iran: oil ministry

French energy giant Total is to sign a $4.8 billion agreement to develop an Iranian offshore gas field, the oil ministry said Sunday, in the biggest foreign deal since sanctions were eased.

Cuba drills for own oil as Venezuelan flow falters

Cuba drills for own oil as Venezuelan flow falters

Near the Cuban seaside village of Boca de Camarioca, a giant drill runs into the ground and out to sea, probing for oil.