Gulf Times - Brent-crude
Oil near June 2015 high as production cuts tighten market

Oil near June 2015 high as production cuts tighten market

Oil prices were stable on Tuesday, with Brent crude lingering near 2015 highs on the back of an outlook for healthy demand amid ongoing production cuts led by Opec and Russia.

IEA sees oil market balancing out later in 2018

IEA sees oil market balancing out later in 2018

At the end of November, 24 nations that account for around 60% of the world's oil supply agreed at a meeting in Vienna to keep a lid on output for all of 2018 in order to push up prices.

Flooding knocks out US refineries, crude hit by supply disruptions

Flooding knocks out US refineries, crude hit by supply disruptions

Flooding from tropical storm Harvey caused ongoing large-scale US refinery outages on Tuesday, while crude prices rose on the back of supply disruptions in Colombia and Libya.

Oil rises for 6th session, buoyed by US output decline

Oil rises for 6th session, buoyed by US output decline

Crude oil rose for a sixth straight session on Thursday to its highest since June 19 on a decline in US output, but ongoing worries about global oversupply continued to drag.

Oil prices give up earlier gains

Oil prices give up earlier gains

Oil prices gave up earlier gains on Tuesday, as concerns over slowing demand and a relentless rise in US crude output undermined the impact of hopes that Opec-led production cuts could be extended.

Oil eases from 5-week top, rising US production weighs

Oil eases from 5-week top, rising US production weighs

Crude oil eased from a five-week high on Tuesday as rising US shale oil production offset concerns over geopolitical tensions in the Middle East and output cuts being made to support prices.

Oil rises on weak dollar, but bloated supply still weighs

Oil rises on weak dollar, but bloated supply still weighs

Oil prices rose on Tuesday, supported by a weaker dollar, but crude continued to be weighed down by surging US production and uncertainty over whether an Opec-led supply cut is big enough to rebalance the market.

Oil falls on rising US drilling, uncertainty of Opec-led cut extension

Oil falls on rising US drilling, uncertainty of Opec-led cut extension

Oil prices fell on Monday, pulled down by rising US drilling activity and by doubts whether an Opec-led production cut initially due to end in mid-2017 would be extended.

Oil edges up as Saudis cut supplies to US

Oil edges up as Saudis cut supplies to US

Oil prices edged up on Friday, supported by a fall in Saudi exports to the United States, but overall markets remained under pressure on the back of a world market awash with fuel. Benchmark Brent crude futures were at $50.65 per barrel at 0633 GMT, up 9 cents from their last close.

Oil slides as market discounts Opec output cut extension talk

Oil slides as market discounts Opec output cut extension talk

Oil prices on Tuesday fell close to its lowest in a week as the market discounted the latest talk by Opec that it would extend output cuts beyond June.

Oil prices rally but US stockpiles drag

Oil prices rally but US stockpiles drag

Oil prices rallied on Thursday, recovering ground after the biggest falls this year, but record US crude inventories kept sentiment weak, pointing to a global glut despite supply cuts.

Oil rises, but US drilling drags on prices

Oil rises, but US drilling drags on prices

Oil prices rose on Monday but the gains were limited as investors gauged whether an increase in US drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance.