By HASSAN HAFIDH
A consortium led by Exxon Mobil Corp. and Royal Dutch Shell PLC accepted contract amendments made by the Iraqi government to develop an oil field in southern Iraq, a senior Ministry of Oil official said.
“They have accepted the changes, and we are finalizing the deal with them on Jan. 25,” Abdul Mahdy al-Ameedi, [...]
LONDON: Crude oil prices rose more than 2% to a seven-month high on Monday, extending its biggest monthly gain in a decade due to rallying stock
markets and sustained expectations for a global economic recovery.
US stocks rose, following gains in Europe and Asia driven by data showing China’s manufacturing continued to expand moderately in May. [...]
LONDON (Reuters) – Oil rose more than 2 percent to a seven-month high on Monday, extending its biggest monthly gain in a decade due to rallying stock markets and sustained expectations for a global economic recovery.
European stocks were firmer following gains in Asia after data showed China’s manufacturing continued to expand moderately in May. The [...]
By Russell Gold
Oil prices are on the march, again, surprising many observers by reaching $66 a barrel in the midst of a global downturn.
Next stop? Respected oil-market analyst Paul Horsnell of Barclays says $75. “When the market as a whole starts to believe that $75 is pretty much inevitable, then it might as well go [...]
By Edward McAllister Edward Mcallister – Fri May 29, 3:44 pm ET
NEW YORK (Reuters) – Oil rose to a six-month high above $66 per barrel on Friday, marking its largest monthly percentage gain in more than a decade, after U.S., Japanese and Indian data suggested the economic downturn may be easing.
Oil prices jumped [...]
By MICHAEL RICHARDSON
SINGAPORE — Cash-rich China is using a period of relatively low oil prices to improve its energy security and ensure that its economy has the oil-based fuels needed to sustain growth when recovery from the slump takes hold.
Should Japan, which is currently far more reliant on imported oil than China, adopt a similar [...]
Crude futures fall ahead of the next OPEC meeting. Stronger dollar and global equity weakness also pull the support out from under floor.
NEW YORK (CNNMoney.com) — Oil prices fell on Tuesday days ahead of an expected decision by OPEC to hold production quotas unchanged.
A stronger U.S. dollar and falling global equities also worked prices [...]
French president says he wants to help UAE stabilize world oil prices
ABU DHABI, United Arab Emirates (AP) — French President Nicolas Sarkozy urged both oil-rich nations and industrial powers Tuesday to work to stabilize world oil prices, noting that the global economy cannot afford major price swings while it works to recover from the [...]
LONDON (AFP) – World oil prices fell under 60 dollars per barrel on Tuesday, pressured by the strengthening US currency and weaker European equities, as traders awaited this week’s crucial OPEC output meeting.
New York’s main futures contract, light sweet crude for delivery in July, retreated 1.88 dollars to 59.79 dollars a barrel.
London’s Brent North Sea [...]
By Rania El Gamal and Silvia Aloisi
ROME, May 24 (Reuters) - Energy leaders on Sunday debated what oil price would spur investment in the sector without hurting a wider global economic recovery, as top producer Saudi Arabia forecast prices eventually moving towards $75 a barrel.
The Group of Eight energy ministers are meeting in Rome [...]
