BP shares jump as oil company doubles cost cuts

BP shares were up almost 5pc in late morning trading in London despite the oil company reporting that its so called “replacement cost profit” fell by 50pc to $4.98bn (£3.04bn) ...

OPEC considers December oil output boost

OPEC could intervene to boost oil output in December from it’s member countries if oil prices were to reach $100 a barrel, according to the group’s president and Kuwait’s oil ...

Stronger US dollar pushes oil prices lower

Light crude oil prices traded lower Monday as the US dollar strengthened after gaining early on a weaker US dollar, showing that currency strength and other economic considerations, rather than ...

Oil price trading below $79 after late Monday slide

Oil prices were trading back below $79 a barrel Tuesday in Asia as investors eyed a volatile US dollar. Benchmark light crude oil futures for December delivery rose 12 cents ...

The truth about energy and peak oil

Floating within a trading range for several weeks, the price of crude oil has recently broken out to a new recovery high. Skeptics can say what they want but it ...

Timor sea oil spill prompts fear of disaster unfolding

Timor sea oil spill prompts fear of a disaster unfolding as Thailand’s PTT Exploration & Production Pcl delayed a fourth attempt due today to plug an Australian well that may ...

OPEC sees global oil market well supplied

OPEC believes the global oil market is well supplied, in spite of a recent rally in crude oil prices and signs that an economic recovery is starting to gain momentum, ...

Light oil price trading around $81 boosted by weaker US dollar

A falling US dollar helped the US light oil price stay above $80 a barrel in trading Monday as oil traders looked to company earnings and US economic data for ...

A post oil world gets less scifi by the day

Just think back to summer last year when oil prices spiked to $150 a barrel – 10 times the level of a decade earlier. In petrol stations in some European ...

OPEC to raise oil output if price hits $100 US

OPEC ministers will raise oil output to protect the global economic recovery at a meeting in December if oil prices rise to $100 per barrel, the group’s president said on ...
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