Gulf Times - Crude-Oil
As petrol prices soar, Indians look for ways to ease pain

As petrol prices soar, Indians look for ways to ease pain

Protests against high petrol and diesel prices paralysed many parts of India earlier this month, shutting businesses, government offices and schools.

Brent crude oil surges above $80

Brent crude oil surges above $80

Benchmark oil contract Brent North Sea surged above $80 a barrel on Thursday, hitting the highest level since late 2014 and extending a recent run higher fuelled by tight supply concerns.

Iraq cabinet approves raising crude oil output capacity

Iraq cabinet approves raising crude oil output capacity

The Iraqi cabinet on Sunday approved a plan to raise the nation's crude oil output capacity to 6.5 million barrels per day by 2022, according to a government statement.

Global oil demand picks up but still lags rising supply: IEA

Global oil demand picks up but still lags rising supply: IEA

The Paris-based IEA raised its forecast for oil demand this year to 99.3 million barrels per day (bpd), from 97.8 million bpd in 2017.

Oil hits $71 on tighter supply and weak dollar

Oil hits $71 on tighter supply and weak dollar

Oil hit $71 a barrel on Thursday for the first time since 2014, supported by Opec-led supply curbs, a record-breaking run of declines in US crude inventories and a weaker US dollar.

Oil prices set for fourth straight week of gains

Oil prices set for fourth straight week of gains

Oil prices eased from three-year highs on Friday but were still on track to end the week higher for a fourth week in a row.

Oil hits highest since May 2015 above $68 on tighter market

Oil hits highest since May 2015 above $68 on tighter market

The Organisation of the Petroleum Exporting Countries and allies including Russia are keeping supply limits in place in 2018, a second year of restraint, to reduce a price-denting glut of oil held in inventories.

Iranian oil tanker burns as winds, waves lash rescuers

Iranian oil tanker burns as winds, waves lash rescuers

The poor conditions, with strong winds, rain and waves as high as 3 metres, frustrated efforts to tame the oil tanker fire and search for the 31 remaining crew members, the Ministry of Transport said.

Rescue crews struggle to tame China oil tanker fire

Rescue crews struggle to tame China oil tanker fire

Concerns were growing that the tanker, which hit a freight ship on Saturday night in the East China Sea, may explode and sink as the inferno grew.

Iraq to export Kirkuk oil to Iran before end-January

Iraq to export Kirkuk oil to Iran before end-January

About 30,000 barrels per day of crude will be trucked to Iran's Kermanshah refinery in the first instance, Iraqi Oil Minister Jabar al-Luaibi said.

QP becomes 'exclusive marketer' of all Qatar crude oil exports

QP becomes 'exclusive marketer' of all Qatar crude oil exports

Qatar Petroleum (QP) has said all crude oil produced in the State of Qatar for export to international markets has been designated by a ministerial directive as a “regulated product” with effect from January 1.

Oil falls from 2015 highs as rally runs out of steam

Oil falls from 2015 highs as rally runs out of steam

Oil prices fell on Wednesday after hitting a near two-and-a-half year high in the previous session as analysts said the rally was gradually running out of steam despite supply outages in Libya and the North Sea.