As tanker owners with aged VLCC tankers were looking for an opportunity in the scrap market, in order to send their vessels for demolition, the opportunity of floating storage plays rose, giving those older ship anot ...
Oil prices have started to stabilise around $60 a barrel in past weeks and will continue to firm up, while crude demand will grow stronger, an adviser to Saudi Arabia's oil minister said.
Russia said on Wednesday it would meet OPEC in June to discuss the impact of shale oil on global markets, just days before the producers' group decides whether its policy of high production is sufficient to stifle th ...
Iraq is building up debts to the oil companies developing its giant fields, industry sources said, a further sign of how the oil-price drop is putting a squeeze on revenues in OPEC's second-largest producer.
OPEC is likely to maintain its production policy at a meeting in June, Kuwait's OPEC governor said on Tuesday in the first public comment on what would be a crucial decision to determine the direction of global oil p ...
The steep fall in energy prices will hit investment in oil and gas projects worldwide and the industry may cancel about $1 trillion of planned projects globally in the next couple of years
Experts say a majority of key oil exporting Arab countries could face a budget deficit of at least $122 billion in 2015 as the result of the falling oil prices.
Iraq narrowed the discount for April crude deliveries to Asian buyers by the most since November 2011, joining other Middle East producers in raising official selling prices amid signs demand is improving.